Equities analysts predict that Spirit Airlines Incorporated (NASDAQ:SAVE) will announce earnings per share (EPS) of $1.58 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Spirit Airlines’ earnings, with estimates ranging from $1.53 to $1.63. Spirit Airlines reported earnings of $1.11 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 42.3%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Wednesday, July 24th.
On average, analysts expect that Spirit Airlines will report full year earnings of $5.67 per share for the current financial year, with EPS estimates ranging from $5.40 to $6.14. For the next fiscal year, analysts anticipate that the firm will report earnings of $6.48 per share, with EPS estimates ranging from $5.24 to $9.40. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Spirit Airlines.
Spirit Airlines (NASDAQ:SAVE) last posted its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.84 EPS for the quarter, hitting analysts’ consensus estimates of $0.84. The firm had revenue of $855.80 million during the quarter, compared to analyst estimates of $855.77 million. The company’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 posted $0.44 EPS.
Shares of NASDAQ:SAVE traded up $0.34 during trading on Wednesday, reaching $51.11. 173,471 shares of the company traded hands, compared to its average volume of 1,087,282. The company has a fifty day simple moving average of $48.71. Spirit Airlines has a 1-year low of $35.72 and a 1-year high of $65.35.
In other Spirit Airlines news, SVP Laurie Villa sold 3,800 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $53.69, for a total value of $204,022.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert D. Johnson sold 750 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $45.97, for a total transaction of $34,477.50. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. grew its stake in shares of Spirit Airlines by 6.5% during the fourth quarter. BlackRock Inc. now owns 4,810,444 shares of the transportation company’s stock valued at $278,621,000 after acquiring an additional 292,498 shares in the last quarter. AlphaCrest Capital Management LLC bought a new stake in Spirit Airlines in the fourth quarter valued at about $330,000. Castleark Management LLC bought a new stake in Spirit Airlines in the fourth quarter valued at about $8,376,000. Blueshift Asset Management LLC bought a new stake in Spirit Airlines in the fourth quarter valued at about $698,000. Finally, Northern Trust Corp increased its stake in Spirit Airlines by 1.7% in the fourth quarter. Northern Trust Corp now owns 843,798 shares of the transportation company’s stock valued at $48,873,000 after acquiring an additional 13,790 shares during the period.
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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