Spirit Airlines (SAVE) Set to Announce Earnings on Monday

Spirit Airlines (NYSE:SAVE) is scheduled to post its quarterly earnings results before the market opens on Monday, May 6th. Analysts expect Spirit Airlines to post earnings of ($1.46) per share for the quarter. Spirit Airlines has set its Q1 2024 guidance at EPS.Persons that wish to listen to the company’s earnings conference call can do so using this link.

Spirit Airlines (NYSE:SAVE) last announced its earnings results on Thursday, February 8th. The company reported ($1.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.42) by $0.06. Spirit Airlines had a negative return on equity of 26.38% and a negative net margin of 8.34%. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the company earned $0.12 EPS. The company’s quarterly revenue 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 Price Performance

SAVE stock opened at $3.71 on Friday. The stock has a market cap of $405.70 million, a PE ratio of -0.91 and a beta of 1.41. 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 one year low of $3.41 and a one year high of $19.69. The firm has a 50 day simple moving average of $4.65 and a two-hundred day simple moving average of $9.48.

Spirit Airlines Announces Dividend

The company also recently disclosed a dividend, which was paid on Thursday, February 29th. Investors of record on Friday, February 23rd were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, February 22nd.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Bank of America assumed coverage on Spirit Airlines in a research note on Wednesday, January 17th. They set an “underperform” rating and a $5.00 price objective on the stock. TD Cowen cut their target price on shares of Spirit Airlines from $5.00 to $4.00 and set a “hold” rating on the stock in a research note on Tuesday, April 16th. Susquehanna reduced their target price on Spirit Airlines from $5.00 to $4.00 and set a “negative” rating on the stock in a report on Tuesday, April 9th. Evercore ISI lowered their target price on Spirit Airlines from $18.00 to $3.50 and set an “in-line” rating for the company in a research note on Thursday, April 4th. Finally, Barclays began coverage on Spirit Airlines in a research report on Wednesday, March 27th. They set an “underweight” rating and a $4.00 price objective for the company. Five research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat.com, Spirit Airlines presently has a consensus rating of “Reduce” and a consensus price target 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.