Spirit Airlines, Inc. (NYSE:SAVE – Free Report) – Seaport Res Ptn upped their Q3 2024 EPS estimates for Spirit Airlines in a research report issued on Wednesday, October 9th. Seaport Res Ptn analyst D. Mckenzie now anticipates that the company will post earnings of ($2.15) per share for the quarter, up from their prior estimate of ($2.50). The consensus estimate for Spirit Airlines’ current full-year earnings is ($7.02) per share. Seaport Res Ptn also issued estimates for Spirit Airlines’ Q4 2024 earnings at ($1.90) EPS and FY2024 earnings at ($6.96) EPS.
Spirit Airlines (NYSE:SAVE – Get Free Report) last announced its earnings results on Thursday, August 1st. The company reported ($1.44) EPS for the quarter, missing the consensus estimate of ($1.30) by ($0.14). Spirit Airlines had a negative return on equity of 57.87% and a negative net margin of 13.20%. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the previous year, the company posted $0.29 EPS. The business’s revenue for the quarter was down 10.6% compared to the same quarter last year.
Check Out Our Latest Stock Analysis on Spirit Airlines
Spirit Airlines Price Performance
Shares of SAVE opened at $1.61 on Monday. The company has a debt-to-equity ratio of 3.86, a current ratio of 0.94 and a quick ratio of 0.94. The company’s 50-day moving average is $2.46 and its 200-day moving average is $3.24. Spirit Airlines has a fifty-two week low of $1.40 and a fifty-two week high of $17.49. The firm has a market capitalization of $176.30 million, a PE ratio of -0.36 and a beta of 1.38.
Institutional Investors Weigh In On Spirit Airlines
Large investors have recently bought and sold shares of the stock. Signaturefd LLC grew its holdings in shares of Spirit Airlines by 127.6% during the second quarter. Signaturefd LLC now owns 7,926 shares of the company’s stock valued at $29,000 after buying an additional 4,443 shares during the last quarter. Natixis raised its position in shares of Spirit Airlines by 29.1% in the first quarter. Natixis now owns 12,480 shares of the company’s stock valued at $60,000 after purchasing an additional 2,815 shares during the period. Wellington Wealth Strategies LLC. bought a new stake in shares of Spirit Airlines in the first quarter valued at approximately $68,000. First Bank & Trust bought a new stake in shares of Spirit Airlines in the first quarter valued at approximately $70,000. Finally, High Note Wealth LLC purchased a new position in Spirit Airlines during the first quarter valued at approximately $73,000. 58.73% of the stock is currently owned by institutional investors and hedge funds.
About Spirit Airlines
Spirit Airlines, Inc provides airline services. The company also offers hotels and rental cars services. It serves 93 destinations in 15 countries in the United States, Latin America, and the Caribbean. As of December 31, 2023, the company operated a fleet of 205 Airbus single-aisle aircraft. The company was formerly known as Clippert Trucking Company and changed its name to Spirit Airlines, Inc in 1992.
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