Equities analysts expect Spirit Airlines Incorporated (NASDAQ:SAVE) to report $0.49 earnings per share for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Spirit Airlines’ earnings. The highest EPS estimate is $0.52 and the lowest is $0.46. Spirit Airlines reported earnings of $0.77 per share in the same quarter last year, which indicates a negative year over year growth rate of 36.4%. The firm is expected to announce its next earnings report on Tuesday, February 6th.

On average, analysts expect that Spirit Airlines will report full year earnings of $3.08 per share for the current financial year, with EPS estimates ranging from $3.05 to $3.11. For the next year, analysts expect that the company will report earnings of $3.20 per share, with EPS estimates ranging from $2.74 to $3.70. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Spirit Airlines.

Spirit Airlines (NASDAQ:SAVE) last announced its earnings results on Thursday, October 26th. The transportation company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.90 by $0.04. Spirit Airlines had a net margin of 8.55% and a return on equity of 15.86%. The company had revenue of $687.20 million during the quarter, compared to analysts’ expectations of $686.13 million. During the same period last year, the company posted $1.24 earnings per share. The business’s revenue for the quarter was up 10.6% on a year-over-year basis.

SAVE has been the subject of several recent analyst reports. Imperial Capital reiterated an “in-line” rating and issued a $36.00 target price (up from $32.00) on shares of Spirit Airlines in a report on Friday, October 27th. Morgan Stanley reiterated an “equal weight” rating and issued a $45.00 target price (down from $46.00) on shares of Spirit Airlines in a report on Friday, September 1st. J P Morgan Chase & Co cut shares of Spirit Airlines from a “neutral” rating to an “underweight” rating and set a $39.00 target price for the company. in a report on Wednesday, November 1st. Deutsche Bank cut shares of Spirit Airlines from a “buy” rating to a “hold” rating and set a $38.00 price target for the company. in a report on Friday, October 6th. Finally, Zacks Investment Research upgraded shares of Spirit Airlines from a “sell” rating to a “hold” rating in a report on Friday, November 10th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $41.75.

In related news, VP John A. Bendoraitis sold 2,340 shares of the business’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $42.92, for a total transaction of $100,432.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.33% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of SAVE. First Personal Financial Services boosted its stake in Spirit Airlines by 87.9% during the third quarter. First Personal Financial Services now owns 3,088 shares of the transportation company’s stock worth $103,000 after buying an additional 1,445 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Spirit Airlines by 7.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,160 shares of the transportation company’s stock valued at $112,000 after purchasing an additional 141 shares in the last quarter. Advisor Group Inc. boosted its stake in shares of Spirit Airlines by 18.8% in the 2nd quarter. Advisor Group Inc. now owns 2,170 shares of the transportation company’s stock valued at $113,000 after purchasing an additional 344 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Spirit Airlines in the 3rd quarter valued at $142,000. Finally, Intact Investment Management Inc. acquired a new stake in shares of Spirit Airlines in the 2nd quarter valued at $238,000.

Shares of Spirit Airlines (NASDAQ SAVE) traded down $0.65 on Friday, hitting $44.22. 1,231,000 shares of the company’s stock traded hands, compared to its average volume of 1,434,283. Spirit Airlines has a one year low of $30.32 and a one year high of $60.28. The firm has a market capitalization of $3,070.00, a PE ratio of 13.35, a price-to-earnings-growth ratio of 1.82 and a beta of 0.75. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

Spirit Airlines declared that its Board of Directors has initiated a share buyback program on Thursday, October 26th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the transportation company to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

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Spirit Airlines Company Profile

Spirit Airlines, Inc is an airline company. The Company provides air transportation for passengers. As of December 31, 2016, its all-Airbus Fit Fleet operated over 420 daily flights to 59 destinations in the United States, Caribbean and Latin America. As of December 31, 2016, it had a fleet of 95 Airbus single-aisle aircraft, which are referred to as A320 family aircraft and include the A319, A320 and A321 models, which have common design and equipment but differ most notably in fuselage length, service range and seat capacity.

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Earnings History and Estimates for Spirit Airlines (NASDAQ:SAVE)

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