Brokers

Brokers Offer Predictions for Spirit Airlines, Inc.’s FY2023 Earnings (NYSE:SAVE)

Spirit Airlines logo with Transportation background

Spirit Airlines, Inc. (NYSE:SAVEFree Report) – Investment analysts at Seaport Res Ptn increased their FY2023 earnings per share (EPS) estimates for shares of Spirit Airlines in a report issued on Wednesday, January 10th. Seaport Res Ptn analyst D. Mckenzie now expects that the company will post earnings per share of ($3.33) for the year, up from their previous forecast of ($3.53). The consensus estimate for Spirit Airlines’ current full-year earnings is ($3.48) per share. Seaport Res Ptn also issued estimates for Spirit Airlines’ Q4 2023 earnings at ($1.50) EPS, Q1 2024 earnings at ($1.70) EPS, Q2 2024 earnings at ($0.20) EPS, Q3 2024 earnings at ($0.50) EPS, Q4 2024 earnings at ($1.10) EPS and FY2025 earnings at ($1.00) EPS.

SAVE has been the topic of several other research reports. Evercore ISI lowered their price objective on Spirit Airlines from $25.00 to $20.00 and set an “in-line” rating on the stock in a research report on Monday, September 18th. Citigroup decreased their price target on Spirit Airlines from $16.50 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 1st. TheStreet cut Spirit Airlines from a “c-” rating to a “d” rating in a research report on Monday, September 18th. Finally, Susquehanna decreased their price target on Spirit Airlines from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 11th. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Spirit Airlines has a consensus rating of “Hold” and a consensus price target of $14.50.

Read Our Latest Analysis on Spirit Airlines

Spirit Airlines Stock Performance

SAVE stock opened at $15.19 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 2.31. The business’s fifty day moving average price is $14.12 and its two-hundred day moving average price is $15.75. Spirit Airlines has a fifty-two week low of $8.68 and a fifty-two week high of $20.99.

Spirit Airlines (NYSE:SAVEGet Free Report) last posted its quarterly earnings data on Thursday, October 26th. The company reported ($1.37) earnings per share for the quarter, topping the consensus estimate of ($1.47) by $0.10. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Spirit Airlines had a negative return on equity of 13.33% and a negative net margin of 9.84%. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.03 EPS.

Spirit Airlines Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 22nd were paid a $0.10 dividend. The ex-dividend date was Thursday, December 21st.

Institutional Trading of Spirit Airlines

Large investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. boosted its stake in Spirit Airlines by 272.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,119 shares of the company’s stock valued at $41,000 after buying an additional 1,550 shares in the last quarter. Cary Street Partners Investment Advisory LLC acquired a new stake in Spirit Airlines in the third quarter valued at about $50,000. Rockefeller Capital Management L.P. acquired a new stake in Spirit Airlines in the second quarter valued at about $74,000. Impact Partnership Wealth LLC acquired a new stake in Spirit Airlines in the second quarter valued at about $75,000. Finally, Quarry LP acquired a new stake in Spirit Airlines in the first quarter valued at about $86,000. 65.22% of the stock is owned by institutional investors and hedge funds.

About Spirit Airlines

(Get Free Report)

Spirit Airlines, Inc provides airline services. The company provides front seats, including wider seats with extra legroom, carry-on and checked baggage, assigned seats, travel insurance, and onboard beverages and snacks, as well as hotels, cars, vacation packages, and cruises services. It serves 92 destinations in 16 countries in the United States, Latin America, and the Caribbean.

See Also

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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