Zacks: Analysts Expect Spirit Airlines Incorporated (NASDAQ:SAVE) to Announce $1.00 Earnings Per Share

Analysts expect that Spirit Airlines Incorporated (NASDAQ:SAVE) will announce $1.00 earnings per share (EPS) for the current quarter, according to Zacks. Four analysts have provided estimates for Spirit Airlines’ earnings, with the highest EPS estimate coming in at $1.05 and the lowest estimate coming in at $0.96. Spirit Airlines posted earnings per share of $1.38 in the same quarter last year, which would indicate a negative year over year growth rate of 27.5%. The company is scheduled to issue its next quarterly earnings report on Tuesday, February 4th.

According to Zacks, analysts expect that Spirit Airlines will report full-year earnings of $4.86 per share for the current year, with EPS estimates ranging from $4.82 to $4.90. For the next financial year, analysts expect that the business will post earnings of $4.91 per share, with EPS estimates ranging from $4.51 to $5.30. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Spirit Airlines.

Spirit Airlines (NASDAQ:SAVE) last released its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.09. The firm had revenue of $991.97 million during the quarter, compared to the consensus estimate of $987.68 million. During the same quarter in the prior year, the business posted $1.47 earnings per share. The firm’s quarterly revenue was up 9.7% on a year-over-year basis.

A number of analysts have recently weighed in on SAVE shares. Morgan Stanley lowered their price target on shares of Spirit Airlines from $38.00 to $37.00 and set an “equal weight” rating on the stock in a report on Thursday, October 10th. Vertical Research started coverage on shares of Spirit Airlines in a report on Thursday, August 22nd. They issued a “hold” rating on the stock. Citigroup started coverage on shares of Spirit Airlines in a report on Thursday, October 31st. They issued a “buy” rating and a $46.00 price target on the stock. Credit Suisse Group restated a “hold” rating and issued a $43.00 price target on shares of Spirit Airlines in a report on Monday, October 28th. Finally, Bank of America cut shares of Spirit Airlines to a “sell” rating and set a $39.00 price target on the stock. in a report on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $50.67.

A number of hedge funds have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Spirit Airlines by 20.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,661 shares of the transportation company’s stock worth $79,000 after purchasing an additional 278 shares in the last quarter. Aviance Capital Partners LLC boosted its stake in Spirit Airlines by 1.1% in the 2nd quarter. Aviance Capital Partners LLC now owns 30,085 shares of the transportation company’s stock worth $1,436,000 after purchasing an additional 334 shares in the last quarter. Advisor Group Inc. boosted its stake in Spirit Airlines by 12.4% in the 2nd quarter. Advisor Group Inc. now owns 3,341 shares of the transportation company’s stock worth $160,000 after purchasing an additional 368 shares in the last quarter. Mid Atlantic Financial Management Inc. ADV raised its position in Spirit Airlines by 5.5% during the 2nd quarter. Mid Atlantic Financial Management Inc. ADV now owns 9,820 shares of the transportation company’s stock worth $469,000 after buying an additional 515 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its position in Spirit Airlines by 10.0% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,093 shares of the transportation company’s stock worth $296,000 after buying an additional 556 shares during the last quarter.

NASDAQ:SAVE opened at $37.97 on Monday. Spirit Airlines has a fifty-two week low of $32.97 and a fifty-two week high of $64.76. The company’s 50-day simple moving average is $38.41 and its 200-day simple moving average is $41.63.

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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