Spirit Airlines, Inc. (NYSE:SAVE) Expected to Post FY2026 Earnings of $0.50 Per Share

Spirit Airlines, Inc. (NYSE:SAVE - Free Report) - Equities research analysts at Seaport Res Ptn issued their FY2026 EPS estimates for Spirit Airlines in a research note issued on Monday, May 6th. Seaport Res Ptn analyst D. Mckenzie anticipates that the company will post earnings of $0.50 per share for the year. Seaport Res Ptn has a "Neutral" rating on the stock. The consensus estimate for Spirit Airlines' current full-year earnings is ($2.79) per share.

Spirit Airlines (NYSE:SAVE - Get Free Report) last released its earnings results on Monday, May 6th. The company reported ($1.46) EPS for the quarter, missing the consensus estimate of ($1.45) by ($0.01). Spirit Airlines had a negative return on equity of 26.38% and a negative net margin of 8.34%. The company had revenue of $1.27 billion during the quarter, compared to analysts' expectations of $1.27 billion. During the same period last year, the firm posted ($0.82) EPS. Spirit Airlines's quarterly revenue was down 6.2% compared to the same quarter last year.

SAVE has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Spirit Airlines from $4.00 to $3.00 and set a "hold" rating on the stock in a research report on Tuesday. Evercore ISI cut their price objective on shares of Spirit Airlines from $18.00 to $3.50 and set an "in-line" rating on the stock in a research report on Thursday, April 4th. TD Cowen cut their price objective on shares of Spirit Airlines from $4.00 to $3.00 and set a "hold" rating on the stock in a research report on Tuesday. Barclays started coverage on shares of Spirit Airlines in a research report on Wednesday, March 27th. They set an "underweight" rating and a $4.00 price objective on the stock. Finally, Bank of America started coverage on shares of Spirit Airlines in a research report on Wednesday, January 17th. They set an "underperform" rating and a $5.00 price objective on the stock. Five equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and an average price target of $4.42.

Spirit Airlines Price Performance

SAVE traded up $0.08 during trading hours on Wednesday, hitting $3.41. The company's stock had a trading volume of 7,268,392 shares, compared to its average volume of 13,752,529. The business's 50-day moving average price is $4.47 and its 200-day moving average price is $9.11. Spirit Airlines has a 12 month low of $3.18 and a 12 month high of $19.69. The stock has a market cap of $372.85 million, a price-to-earnings ratio of -0.82 and a beta of 1.41. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 2.69.

Spirit Airlines Dividend Announcement

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

Institutional Trading of Spirit Airlines

Hedge funds have recently modified their holdings of the company. American Century Companies Inc. lifted its position in shares of Spirit Airlines by 88.2% during the third quarter. American Century Companies Inc. now owns 626,269 shares of the company's stock valued at $10,333,000 after buying an additional 293,517 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Spirit Airlines by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,024,413 shares of the company's stock valued at $16,903,000 after buying an additional 37,019 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Spirit Airlines by 616.6% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 143,436 shares of the company's stock valued at $2,367,000 after buying an additional 123,419 shares during the last quarter. Alpine Associates Management Inc. lifted its position in shares of Spirit Airlines by 29.7% during the third quarter. Alpine Associates Management Inc. now owns 1,904,500 shares of the company's stock valued at $31,424,000 after buying an additional 436,486 shares during the last quarter. Finally, FMR LLC lifted its position in shares of Spirit Airlines by 1.3% during the third quarter. FMR LLC now owns 5,296,283 shares of the company's stock valued at $87,389,000 after buying an additional 67,977 shares during the last quarter. 58.73% of the stock is owned by hedge funds and other institutional investors.

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.