Spirit Airlines (SAVE) to Release Earnings on Monday

Spirit Airlines (NYSE:SAVE) is set to release its earnings data before the market opens on Monday, May 6th. Analysts expect Spirit Airlines to post earnings of ($1.46) per share for the quarter. Spirit Airlines has set its Q1 2024 guidance at EPS.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Spirit Airlines (NYSE:SAVE) last issued its quarterly earnings results on Thursday, February 8th. The company reported ($1.36) earnings per share for the quarter, beating the consensus estimate of ($1.42) by $0.06. The business had revenue of $1.32 billion for 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%. The company’s revenue for the quarter was down 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.12 earnings per share. On average, analysts expect Spirit Airlines to post $-3 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Spirit Airlines Stock Performance

Shares of NYSE SAVE opened at $3.54 on Monday. The company has a debt-to-equity ratio of 2.69, a current ratio of 0.90 and a quick ratio of 0.90. Spirit Airlines has a 1 year low of $3.47 and a 1 year high of $19.69. The firm has a fifty day moving average price of $4.88 and a 200-day moving average price of $9.74. The stock has a market cap of $387.56 million, a PE ratio of -0.87 and a beta of 1.35.

Spirit Airlines Dividend Announcement

The firm also recently declared a dividend, which was paid on Thursday, February 29th. Shareholders of record on Friday, February 23rd were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, February 22nd.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on SAVE shares. Bank of America began coverage on Spirit Airlines in a research note on Wednesday, January 17th. They issued an “underperform” rating and a $5.00 price objective for the company. Evercore ISI dropped their price target on Spirit Airlines from $18.00 to $3.50 and set an “in-line” rating for the company in a research note on Thursday, April 4th. TD Cowen reduced their price objective on shares of Spirit Airlines from $5.00 to $4.00 and set a “hold” rating on the stock in a research report on Tuesday, April 16th. Citigroup dropped their target price on shares of Spirit Airlines from $4.00 to $3.85 and set a “sell” rating for the company in a research report on Wednesday, April 17th. Finally, Susquehanna reduced their price target on shares of Spirit Airlines from $5.00 to $4.00 and set a “negative” rating on the stock in a report on Tuesday, April 9th. Five investment analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $4.91.

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.