Spirit Airlines Incorporated (NASDAQ:SAVE) – Analysts at Imperial Capital upped their Q1 2018 earnings per share (EPS) estimates for shares of Spirit Airlines in a research report issued to clients and investors on Tuesday, March 13th, according to Zacks Investment Research. Imperial Capital analyst M. Derchin now expects that the transportation company will post earnings per share of $0.35 for the quarter, up from their previous forecast of $0.16. Imperial Capital currently has a “Outperform” rating and a $52.00 price target on the stock. Imperial Capital also issued estimates for Spirit Airlines’ Q2 2018 earnings at $0.97 EPS, Q3 2018 earnings at $0.86 EPS, Q4 2018 earnings at $0.57 EPS and FY2018 earnings at $2.75 EPS.
Other research analysts have also issued reports about the company. BidaskClub raised Spirit Airlines from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. Deutsche Bank raised Spirit Airlines from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $40.00 to $58.00 in a research report on Thursday, December 21st. Bank of America raised Spirit Airlines from a “neutral” rating to a “buy” rating and set a $53.00 price objective for the company in a research report on Tuesday, January 9th. Stephens reissued a “buy” rating and issued a $61.00 price objective on shares of Spirit Airlines in a research report on Wednesday, January 10th. Finally, Morgan Stanley lowered their price objective on Spirit Airlines from $43.00 to $42.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 7th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company’s stock. Spirit Airlines currently has an average rating of “Hold” and a consensus target price of $48.25.
Shares of SAVE stock traded down $0.56 during mid-day trading on Thursday, hitting $37.74. The company’s stock had a trading volume of 792,183 shares, compared to its average volume of 1,408,180. Spirit Airlines has a 52 week low of $30.32 and a 52 week high of $60.28. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.
Spirit Airlines (NASDAQ:SAVE) last announced its earnings results on Tuesday, February 6th. The transportation company reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.02. Spirit Airlines had a return on equity of 15.86% and a net margin of 8.55%. The business had revenue of $667.00 million during the quarter, compared to analyst estimates of $666.12 million. During the same period last year, the company earned $0.77 EPS. Spirit Airlines’s revenue for the quarter was up 15.3% compared to the same quarter last year.
A number of hedge funds have recently added to or reduced their stakes in the business. OppenheimerFunds Inc. boosted its stake in Spirit Airlines by 10.2% during the 4th quarter. OppenheimerFunds Inc. now owns 5,455,076 shares of the transportation company’s stock valued at $244,660,000 after purchasing an additional 503,894 shares during the last quarter. Franklin Resources Inc. boosted its stake in Spirit Airlines by 18.9% during the 4th quarter. Franklin Resources Inc. now owns 3,379,422 shares of the transportation company’s stock valued at $151,567,000 after purchasing an additional 537,786 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Spirit Airlines by 3.1% during the 3rd quarter. Wells Fargo & Company MN now owns 2,861,241 shares of the transportation company’s stock valued at $95,593,000 after purchasing an additional 86,449 shares during the last quarter. BlackRock Inc. boosted its stake in Spirit Airlines by 2.6% during the 4th quarter. BlackRock Inc. now owns 2,674,471 shares of the transportation company’s stock valued at $119,952,000 after purchasing an additional 68,566 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its stake in Spirit Airlines by 637.4% during the 4th quarter. UBS Asset Management Americas Inc. now owns 2,036,785 shares of the transportation company’s stock valued at $91,350,000 after purchasing an additional 1,760,564 shares during the last quarter.
In related news, COO John A. Bendoraitis sold 1,690 shares of the business’s stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $44.63, for a total value of $75,424.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.33% of the company’s stock.
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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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