Equities research analysts predict that Spirit Airlines Incorporated (NASDAQ:SAVE) will post earnings per share of $1.39 for the current quarter, Zacks reports. Five analysts have provided estimates for Spirit Airlines’ earnings, with estimates ranging from $1.37 to $1.44. Spirit Airlines reported earnings per share of $0.73 in the same quarter last year, which suggests a positive year over year growth rate of 90.4%. The business is scheduled to announce its next quarterly earnings results on Tuesday, February 5th.
According to Zacks, analysts expect that Spirit Airlines will report full year earnings of $4.39 per share for the current fiscal year, with EPS estimates ranging from $4.32 to $4.46. For the next year, analysts anticipate that the firm will report earnings of $6.56 per share, with EPS estimates ranging from $5.40 to $7.40. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that cover Spirit Airlines.
SAVE has been the subject of a number of research reports. Imperial Capital lifted their price target on shares of Spirit Airlines from $72.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, October 26th. Morgan Stanley lifted their price target on shares of Spirit Airlines from $50.00 to $53.00 and gave the company an “equal weight” rating in a research report on Monday, October 15th. Cowen upgraded shares of Spirit Airlines from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $71.00 to $76.00 in a research report on Thursday, January 10th. JPMorgan Chase & Co. upgraded shares of Spirit Airlines from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $59.00 to $82.00 in a research report on Wednesday, November 28th. Finally, BidaskClub cut shares of Spirit Airlines from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 2nd. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Spirit Airlines presently has an average rating of “Buy” and an average price target of $64.07.
In other Spirit Airlines news, COO John A. Bendoraitis sold 2,000 shares of Spirit Airlines stock in a transaction that occurred on Thursday, December 13th. The shares were sold at an average price of $61.11, for a total value of $122,220.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert D. Johnson sold 750 shares of Spirit Airlines stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $64.65, for a total transaction of $48,487.50. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP purchased a new stake in Spirit Airlines in the 3rd quarter worth approximately $206,000. Fosun International Ltd purchased a new stake in Spirit Airlines in the 4th quarter worth approximately $228,000. SG Americas Securities LLC grew its stake in Spirit Airlines by 46.2% in the 2nd quarter. SG Americas Securities LLC now owns 6,653 shares of the transportation company’s stock worth $242,000 after acquiring an additional 2,101 shares during the period. Strs Ohio grew its stake in Spirit Airlines by 89.7% in the 3rd quarter. Strs Ohio now owns 5,500 shares of the transportation company’s stock worth $258,000 after acquiring an additional 2,600 shares during the period. Finally, Cerebellum GP LLC purchased a new stake in Spirit Airlines in the 4th quarter worth approximately $260,000.
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.
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