Spirit Airlines (SAVE) to Release Earnings on Monday

Spirit Airlines (NYSE:SAVE) will be issuing its quarterly earnings data before the market opens on Monday, May 6th. Analysts expect the company to announce earnings of ($1.46) per share for the quarter. Spirit Airlines has set its Q1 2024 guidance at EPS.Parties interested in participating in the company’s conference call can do so using this link.

Spirit Airlines (NYSE:SAVE) last posted its quarterly earnings data on Thursday, February 8th. The company reported ($1.36) earnings per share for the quarter, topping the consensus estimate of ($1.42) by $0.06. Spirit Airlines had a negative net margin of 8.34% and a negative return on equity of 26.38%. The company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the business earned $0.12 earnings per share. Spirit Airlines’s revenue for the quarter was down 5.0% compared to the same quarter last year. On average, analysts expect Spirit Airlines to post $-3 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Spirit Airlines Trading Up 0.8 %

Shares of Spirit Airlines stock opened at $3.71 on Friday. The company has a debt-to-equity ratio of 2.69, a current ratio of 0.90 and a quick ratio of 0.90. Spirit Airlines has a 1 year low of $3.41 and a 1 year high of $19.69. The firm has a market cap of $406.25 million, a PE ratio of -0.91 and a beta of 1.41. The company has a 50 day simple moving average of $4.59 and a two-hundred day simple moving average of $9.39.

Spirit Airlines Dividend Announcement

The business also recently announced a dividend, which was paid on Thursday, February 29th. Investors of record on Friday, February 23rd were given a $0.10 dividend. The ex-dividend date was Thursday, February 22nd.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SAVE. Susquehanna dropped their price target on Spirit Airlines from $5.00 to $4.00 and set a “negative” rating for the company in a research note on Tuesday, April 9th. Barclays initiated coverage on Spirit Airlines in a research note on Wednesday, March 27th. They issued an “underweight” rating and a $4.00 target price for the company. Evercore ISI decreased their price target on shares of Spirit Airlines from $18.00 to $3.50 and set an “in-line” rating on the stock in a research note on Thursday, April 4th. Citigroup lowered their price objective on shares of Spirit Airlines from $4.00 to $3.85 and set a “sell” rating for the company in a report on Wednesday, April 17th. Finally, Bank of America started coverage on shares of Spirit Airlines in a report on Wednesday, January 17th. They set an “underperform” rating and a $5.00 target price on the stock. Five analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $4.91.

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.