Brokerages predict that Spirit Airlines Incorporated (NASDAQ:SAVE) will announce sales of $852.24 million for the current quarter, Zacks reports. Five analysts have issued estimates for Spirit Airlines’ earnings, with the highest sales estimate coming in at $864.00 million and the lowest estimate coming in at $811.00 million. Spirit Airlines posted sales of $667.01 million in the same quarter last year, which would indicate a positive year over year growth rate of 27.8%. The business is expected to report its next quarterly earnings results on Tuesday, February 5th.
On average, analysts expect that Spirit Airlines will report full year sales of $3.31 billion for the current fiscal year, with estimates ranging from $3.27 billion to $3.32 billion. For the next fiscal year, analysts forecast that the firm will report sales of $3.85 billion, with estimates ranging from $3.78 billion to $3.97 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Spirit Airlines.
Get Spirit Airlines alerts:A number of research analysts recently weighed in on SAVE shares. Macquarie set a $56.00 price objective on shares of Spirit Airlines and gave the company a “buy” rating in a report on Monday, October 8th. Deutsche Bank lifted their price objective on shares of Spirit Airlines from $51.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, October 10th. Buckingham Research set a $56.00 price objective on shares of Spirit Airlines and gave the company a “buy” rating in a report on Wednesday, October 10th. Zacks Investment Research cut shares of Spirit Airlines from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 10th. Finally, Imperial Capital lifted their price objective on shares of Spirit Airlines from $69.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, October 11th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $64.07.
In other Spirit Airlines news, COO John A. Bendoraitis sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, December 13th. The shares were sold at an average price of $61.11, for a total transaction of $122,220.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert D. Johnson sold 750 shares of the business’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $64.65, for a total transaction of $48,487.50. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.
Several large investors have recently modified their holdings of SAVE. BlackRock Inc. lifted its position in shares of Spirit Airlines by 67.1% during the 2nd quarter. BlackRock Inc. now owns 4,468,084 shares of the transportation company’s stock worth $162,416,000 after buying an additional 1,794,176 shares during the last quarter. FMR LLC raised its position in Spirit Airlines by 12.0% in the 2nd quarter. FMR LLC now owns 10,236,765 shares of the transportation company’s stock valued at $372,107,000 after purchasing an additional 1,100,206 shares during the last quarter. Capital International Investors purchased a new stake in Spirit Airlines in the 3rd quarter valued at $41,005,000. Hennessy Advisors Inc. purchased a new stake in Spirit Airlines in the 3rd quarter valued at $27,322,000. Finally, Northern Trust Corp raised its position in Spirit Airlines by 162.5% in the 2nd quarter. Northern Trust Corp now owns 816,438 shares of the transportation company’s stock valued at $29,677,000 after purchasing an additional 505,447 shares during the last quarter.
Shares of SAVE traded up $2.31 during trading on Friday, reaching $61.13. 1,487,934 shares of the company traded hands, compared to its average volume of 1,148,991. Spirit Airlines has a twelve month low of $34.36 and a twelve month high of $65.35.
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.
See Also: What is Considered a Good Return on Equity (ROE)?
Get a free copy of the Zacks research report on Spirit Airlines (SAVE)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
No comments:
Post a Comment