Analysts expect Spirit Airlines Incorporated (NASDAQ:SAVE) to announce earnings of $1.15 per share for the current quarter, Zacks reports. Five analysts have issued estimates for Spirit Airlines’ earnings, with the highest EPS estimate coming in at $1.21 and the lowest estimate coming in at $0.98. Spirit Airlines reported earnings per share of $0.94 in the same quarter last year, which suggests a positive year over year growth rate of 22.3%. The company is expected to report its next earnings results on Thursday, October 25th.
On average, analysts expect that Spirit Airlines will report full-year earnings of $3.39 per share for the current year, with EPS estimates ranging from $3.11 to $3.57. For the next year, analysts forecast that the firm will post earnings of $4.27 per share, with EPS estimates ranging from $3.90 to $4.50. Zacks’ EPS averages are a mean average based on a survey of analysts that follow Spirit Airlines.
Spirit Airlines (NASDAQ:SAVE) last released its quarterly earnings results on Wednesday, July 25th. The transportation company reported $1.11 EPS for the quarter, topping the consensus estimate of $1.09 by $0.02. The firm had revenue of $851.80 million for the quarter, compared to analyst estimates of $851.83 million. Spirit Airlines had a return on equity of 15.86% and a net margin of 8.55%. Spirit Airlines’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.14 EPS.
In other Spirit Airlines news, Director Robert D. Johnson sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $47.53, for a total value of $35,647.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.33% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in SAVE. Comerica Bank raised its position in shares of Spirit Airlines by 3.7% in the 1st quarter. Comerica Bank now owns 71,224 shares of the transportation company’s stock valued at $2,706,000 after purchasing an additional 2,560 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Spirit Airlines by 3.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 240,700 shares of the transportation company’s stock valued at $8,903,000 after acquiring an additional 6,900 shares during the last quarter. Aviance Capital Partners LLC increased its holdings in shares of Spirit Airlines by 8.5% in the 1st quarter. Aviance Capital Partners LLC now owns 20,836 shares of the transportation company’s stock valued at $787,000 after acquiring an additional 1,634 shares during the last quarter. Boston Partners bought a new stake in shares of Spirit Airlines in the 1st quarter valued at approximately $1,941,000. Finally, Olstein Capital Management L.P. increased its holdings in shares of Spirit Airlines by 12.5% in the 1st quarter. Olstein Capital Management L.P. now owns 298,500 shares of the transportation company’s stock valued at $11,277,000 after acquiring an additional 33,100 shares during the last quarter.
Spirit Airlines stock traded up $0.09 during midday trading on Friday, hitting $47.59. 805,900 shares of the company were exchanged, compared to its average volume of 1,322,636. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Spirit Airlines has a fifty-two week low of $32.02 and a fifty-two week high of $48.81.
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.
Featured Story: Investing in Growth Stocks
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.