FY2018 Earnings Forecast for Spirit Airlines Incorporated Issued By Imperial Capital (SAVE)

Spirit Airlines Incorporated (NASDAQ:SAVE) – Stock analysts at Imperial Capital increased their FY2018 earnings per share estimates for shares of Spirit Airlines in a research note issued on Friday, October 26th. Imperial Capital analyst M. Derchin now forecasts that the transportation company will earn $3.77 per share for the year, up from their previous estimate of $3.62. Imperial Capital has a “Outperform” rating and a $90.00 price target on the stock. Imperial Capital also issued estimates for Spirit Airlines’ Q2 2019 earnings at $1.65 EPS, Q4 2019 earnings at $1.03 EPS, FY2019 earnings at $5.00 EPS and FY2020 earnings at $6.50 EPS.

Spirit Airlines (NASDAQ:SAVE) last posted its quarterly earnings results on Wednesday, October 24th. The transportation company reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.03. Spirit Airlines had a return on equity of 15.86% and a net margin of 8.55%. The business had revenue of $904.33 million for the quarter, compared to analysts’ expectations of $904.05 million.



A number of other equities research analysts have also recently weighed in on SAVE. Citigroup increased their price target on Spirit Airlines from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, July 12th. Morgan Stanley upped their price objective on Spirit Airlines from $41.00 to $44.00 and gave the company an “equal weight” rating in a report on Monday, July 16th. Barclays decreased their price objective on Spirit Airlines from $49.00 to $42.00 and set an “equal weight” rating on the stock in a report on Monday, July 16th. Buckingham Research raised Spirit Airlines from a “neutral” rating to a “buy” rating and upped their price objective for the company from $42.00 to $52.00 in a report on Wednesday, July 25th. Finally, Cowen upped their price objective on Spirit Airlines from $39.00 to $46.00 and gave the company a “market perform” rating in a report on Friday, July 27th. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Spirit Airlines presently has a consensus rating of “Buy” and an average target price of $57.50.

SAVE opened at $52.76 on Monday. Spirit Airlines has a 1-year low of $34.08 and a 1-year high of $53.72. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Strs Ohio acquired a new stake in shares of Spirit Airlines during the 2nd quarter worth $105,000. Point72 Hong Kong Ltd grew its holdings in shares of Spirit Airlines by 147.4% during the 2nd quarter. Point72 Hong Kong Ltd now owns 2,904 shares of the transportation company’s stock worth $106,000 after purchasing an additional 1,730 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Spirit Airlines by 127.9% during the 2nd quarter. Sei Investments Co. now owns 3,934 shares of the transportation company’s stock worth $143,000 after purchasing an additional 2,208 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Spirit Airlines by 286.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,445 shares of the transportation company’s stock worth $162,000 after purchasing an additional 3,294 shares in the last quarter. Finally, Janus Henderson Group PLC acquired a new stake in shares of Spirit Airlines during the 2nd quarter worth $211,000.

In other news, SVP Rocky Wiggins sold 566 shares of the stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $47.89, for a total transaction of $27,105.74. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert D. Johnson sold 750 shares of the stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $47.53, for a total value of $35,647.50. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

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.

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Earnings History and Estimates for Spirit Airlines (NASDAQ:SAVE)

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