Spirit Airlines Incorporated (SAVE) Expected to Post Quarterly Sales of $852.18 Million
Wall Street analysts expect that Spirit Airlines Incorporated (NASDAQ:SAVE) will report $852.18 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Spirit Airlines’ earnings, with the highest sales estimate coming in at $861.33 million and the lowest estimate coming in at $823.00 million. Spirit Airlines reported sales of $704.14 million in the same quarter last year, which indicates a positive year over year growth rate of 21%. The business is scheduled to issue its next quarterly earnings results on Thursday, April 25th.
According to Zacks, analysts expect that Spirit Airlines will report full-year sales of $3.91 billion for the current fiscal year, with estimates ranging from $3.85 billion to $3.95 billion. For the next financial year, analysts forecast that the firm will report sales of $4.46 billion, with estimates ranging from $4.33 billion to $4.57 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Spirit Airlines.
Spirit Airlines (NASDAQ:SAVE) last released its quarterly earnings data on Tuesday, February 5th. The transportation company reported $1.38 EPS for the quarter, meeting analysts’ consensus estimates of $1.38. The business had revenue of $862.80 million during the quarter, compared to analyst estimates of $861.65 million. During the same quarter in the prior year, the company posted $0.73 earnings per share. The company’s revenue was up 29.5% on a year-over-year basis.
In other news, Director Robert D. Johnson sold 750 shares of Spirit Airlines stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $56.68, for a total transaction of $42,510.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of SAVE. Capital International Investors acquired a new stake in shares of Spirit Airlines during the 3rd quarter valued at approximately $41,005,000. Columbus Circle Investors acquired a new position in shares of Spirit Airlines during the 4th quarter valued at $35,914,000. D. E. Shaw & Co. Inc. lifted its holdings in shares of Spirit Airlines by 1,159.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 501,335 shares of the transportation company’s stock valued at $29,037,000 after acquiring an additional 461,533 shares in the last quarter. Two Sigma Investments LP acquired a new position in Spirit Airlines in the 4th quarter worth $20,741,000. Finally, Victory Capital Management Inc. acquired a new position in Spirit Airlines in the 4th quarter worth $20,721,000.
Shares of SAVE opened at $55.15 on Tuesday. Spirit Airlines has a fifty-two week low of $34.36 and a fifty-two week high of $65.35.
About Spirit Airlines
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Spirit Airlines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirit Airlines and related companies with MarketBeat.com's FREE daily email newsletter.