Sun Country Airlines (NASDAQ:SNCY) Reaches New 1-Year Low After Earnings Miss

Shares of Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) reached a new 52-week low on Wednesday after the company announced weaker than expected quarterly earnings. The company traded as low as $11.63 and last traded at $11.75, with a volume of 120637 shares. The stock had previously closed at $12.32.

The company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.03). The business had revenue of $311.50 million for the quarter, compared to the consensus estimate of $316.23 million. Sun Country Airlines had a return on equity of 15.23% and a net margin of 6.88%. The business’s revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 earnings per share.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SNCY. TD Cowen lowered their target price on Sun Country Airlines from $22.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday. Susquehanna reiterated a “neutral” rating and issued a $15.00 price target (down from $17.00) on shares of Sun Country Airlines in a research report on Wednesday, January 10th. Barclays lifted their price target on Sun Country Airlines from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, February 5th. Finally, Morgan Stanley upgraded Sun Country Airlines from an “equal weight” rating to an “overweight” rating and set a $21.00 target price for the company in a research report on Monday, February 26th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $19.17.

Insider Transactions at Sun Country Airlines

In other news, CEO Jude Bricker sold 2,145 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $14.35, for a total value of $30,780.75. Following the completion of the transaction, the chief executive officer now directly owns 124,991 shares in the company, valued at approximately $1,793,620.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders sold 5,073 shares of company stock worth $72,944. 3.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sun Country Airlines

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Illinois Municipal Retirement Fund lifted its stake in shares of Sun Country Airlines by 5.2% in the 1st quarter. Illinois Municipal Retirement Fund now owns 22,841 shares of the company’s stock valued at $345,000 after acquiring an additional 1,130 shares during the last quarter. Empowered Funds LLC raised its position in Sun Country Airlines by 111.5% during the 1st quarter. Empowered Funds LLC now owns 188,011 shares of the company’s stock valued at $2,837,000 after purchasing an additional 99,097 shares during the last quarter. Quantbot Technologies LP bought a new position in Sun Country Airlines during the 1st quarter valued at approximately $251,000. LSV Asset Management raised its position in Sun Country Airlines by 32.2% during the 1st quarter. LSV Asset Management now owns 252,458 shares of the company’s stock valued at $3,810,000 after purchasing an additional 61,558 shares during the last quarter. Finally, GSA Capital Partners LLP raised its position in Sun Country Airlines by 199.6% during the 1st quarter. GSA Capital Partners LLP now owns 99,057 shares of the company’s stock valued at $1,495,000 after purchasing an additional 65,991 shares during the last quarter.

Sun Country Airlines Price Performance

The business has a 50-day simple moving average of $14.31 and a 200 day simple moving average of $14.54. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.63 and a current ratio of 0.65. The firm has a market cap of $604.04 million, a P/E ratio of 9.29, a price-to-earnings-growth ratio of 0.47 and a beta of 1.63.

Sun Country Airlines Company Profile

Sun Country Airlines Holdings, Inc, an air carrier company, operates scheduled passenger, air cargo, charter air transportation, and related services in the United States, Latin America, and internationally. It operates through two segments, Passenger and Cargo. The company also provides crew, maintenance, and insurance services through ad hoc, repeat, short-term, and long-term service contracts; and loyalty program rewards.