Spirit Airlines, Inc. (NYSE:SAVE – Free Report) – Analysts at Seaport Res Ptn reduced their Q2 2024 earnings estimates for shares of Spirit Airlines in a research note issued to investors on Monday, April 15th. Seaport Res Ptn analyst D. Mckenzie now forecasts that the company will post earnings per share of ($0.40) for the quarter, down from their previous estimate of ($0.15). Seaport Res Ptn has a “Neutral” rating on the stock. The consensus estimate for Spirit Airlines’ current full-year earnings is ($2.75) per share. Seaport Res Ptn also issued estimates for Spirit Airlines’ Q3 2024 earnings at ($0.20) EPS, Q4 2024 earnings at $0.05 EPS and FY2025 earnings at $0.25 EPS.
Spirit Airlines (NYSE:SAVE – Get Free Report) last released its quarterly earnings data on Thursday, February 8th. The company reported ($1.36) EPS for the quarter, topping the consensus estimate of ($1.42) by $0.06. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.32 billion. Spirit Airlines had a negative net margin of 8.34% and a negative return on equity of 26.38%. Spirit Airlines’s revenue for the quarter was down 5.0% on a year-over-year basis. During the same period last year, the firm earned $0.12 EPS.
Read Our Latest Report on SAVE
Spirit Airlines Price Performance
SAVE opened at $4.12 on Wednesday. The company has a 50 day moving average of $5.28 and a 200 day moving average of $10.41. The company has a market cap of $450.50 million, a PE ratio of -1.01 and a beta of 1.35. Spirit Airlines has a 12 month low of $3.96 and a 12 month high of $19.69. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 2.69.
Institutional Trading of Spirit Airlines
Several institutional investors and hedge funds have recently made changes to their positions in the stock. First Bank & Trust purchased a new stake in shares of Spirit Airlines during the 1st quarter valued at $70,000. Counterpoint Mutual Funds LLC purchased a new position in Spirit Airlines in the 1st quarter worth $142,000. Vanguard Group Inc. raised its position in Spirit Airlines by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 10,418,903 shares of the company’s stock worth $170,766,000 after purchasing an additional 68,710 shares during the period. Readystate Asset Management LP purchased a new position in Spirit Airlines in the 4th quarter worth $3,072,000. Finally, Price T Rowe Associates Inc. MD raised its position in Spirit Airlines by 9.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 69,667 shares of the company’s stock worth $1,142,000 after purchasing an additional 5,801 shares during the period. Hedge funds and other institutional investors own 58.73% of the company’s stock.
Spirit Airlines Announces Dividend
The business also recently disclosed a dividend, which was paid on Thursday, February 29th. Stockholders of record on Friday, February 23rd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, February 22nd.
About Spirit Airlines
Spirit Airlines, Inc provides airline services. The company also offers hotels and rental cars services. It serves 93 destinations in 15 countries in the United States, Latin America, and the Caribbean. As of December 31, 2023, the company operated a fleet of 205 Airbus single-aisle aircraft. The company was formerly known as Clippert Trucking Company and changed its name to Spirit Airlines, Inc in 1992.
Read More
- Five stocks we like better than Spirit Airlines
- Best ESG Stocks: 11 Best Stocks for ESG Investing
- United Airlines Soars on Earnings Beat
- What Are Dividend Challengers?
- J.B. Hunt Hits the Skids: Lower Prices to Come
- Overbought Stocks Explained: Should You Trade Them?
- Predicting a Bear Market: 7 Signs and Why it’s Tough to Do
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.