$1.57 Earnings Per Share Expected for Spirit Airlines Incorporated (SAVE) This Quarter

Wall Street analysts expect that Spirit Airlines Incorporated (NASDAQ:SAVE) will post earnings per share of $1.57 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Spirit Airlines’ earnings. The highest EPS estimate is $1.63 and the lowest is $1.53. Spirit Airlines posted earnings per share of $1.11 in the same quarter last year, which indicates a positive year over year growth rate of 41.4%. The company is scheduled to report its next quarterly earnings report on Wednesday, July 24th.

On average, analysts expect that Spirit Airlines will report full-year earnings of $5.73 per share for the current fiscal year, with EPS estimates ranging from $5.45 to $6.45. For the next financial year, analysts expect that the firm will report earnings of $6.56 per share, with EPS estimates ranging from $5.24 to $9.40. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that follow Spirit Airlines.

Spirit Airlines (NASDAQ:SAVE) last issued its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.84 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.84. The company had revenue of $855.80 million during the quarter, compared to analyst estimates of $855.77 million. The business’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.44 EPS.

SAVE has been the subject of a number of research reports. Macquarie set a $81.00 price target on shares of Spirit Airlines and gave the company a “buy” rating in a report on Tuesday, January 29th. Vertical Research initiated coverage on shares of Spirit Airlines in a report on Monday, February 4th. They issued a “buy” rating for the company. Stephens reissued an “overweight” rating and issued a $78.00 price target (up previously from $74.00) on shares of Spirit Airlines in a report on Wednesday, February 6th. Imperial Capital reissued an “outperform” rating and issued a $92.00 price target (up previously from $90.00) on shares of Spirit Airlines in a report on Thursday, February 7th. Finally, Goldman Sachs Group raised shares of Spirit Airlines from a “neutral” rating to a “buy” rating and raised their price target for the company from $78.00 to $85.00 in a report on Thursday, February 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Spirit Airlines has an average rating of “Buy” and a consensus target price of $68.53.

Shares of Spirit Airlines stock traded down $1.10 during midday trading on Friday, reaching $47.20. The company had a trading volume of 551,260 shares, compared to its average volume of 1,156,458. Spirit Airlines has a 1-year low of $34.36 and a 1-year high of $65.35.

In other Spirit Airlines news, Director Robert D. Johnson sold 750 shares of Spirit Airlines stock in a transaction 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Laurie Villa sold 3,800 shares of Spirit Airlines stock in a transaction on Monday, April 29th. The stock was sold at an average price of $53.69, for a total transaction of $204,022.00. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Commonwealth Bank of Australia grew its holdings in Spirit Airlines by 5.6% during the 4th quarter. Commonwealth Bank of Australia now owns 7,600 shares of the transportation company’s stock worth $440,000 after acquiring an additional 400 shares during the period. Aviance Capital Partners LLC grew its holdings in Spirit Airlines by 1.4% during the 1st quarter. Aviance Capital Partners LLC now owns 29,751 shares of the transportation company’s stock worth $1,573,000 after acquiring an additional 411 shares during the period. Quadrant Capital Group LLC bought a new position in shares of Spirit Airlines during the first quarter worth $25,000. Penserra Capital Management LLC bought a new position in shares of Spirit Airlines during the fourth quarter worth $29,000. Finally, AQR Capital Management LLC boosted its position in shares of Spirit Airlines by 0.3% during the first quarter. AQR Capital Management LLC now owns 159,436 shares of the transportation company’s stock worth $8,428,000 after purchasing an additional 551 shares in the last quarter.

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

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