Spirit Airlines (SAVE) to Release Quarterly Earnings on Monday

Spirit Airlines (NYSE:SAVE - Get Free Report) will issue 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.Persons interested in listening to the company's earnings conference call can do so using this link.

Spirit Airlines (NYSE:SAVE - Get Free Report) last announced its earnings results on Thursday, February 8th. The company reported ($1.36) EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $1.32 billion during the quarter, compared to analysts' expectations of $1.32 billion. During the same period in the prior year, the company earned $0.12 earnings per share. The business's 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 Stock Performance

Shares of Spirit Airlines stock traded up $0.21 on Monday, reaching $3.76. 4,653,643 shares of the stock were exchanged, compared to its average volume of 14,190,628. Spirit Airlines has a 1-year low of $3.47 and a 1-year high of $19.69. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 2.69. The business has a fifty day moving average price of $4.88 and a two-hundred day moving average price of $9.74.

Spirit Airlines Announces Dividend

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

Analysts Set New Price Targets

SAVE has been the topic of several recent research reports. TD Cowen reduced their price target on shares of Spirit Airlines from $5.00 to $4.00 and set a "hold" rating on the stock in a report on Tuesday, April 16th. Bank of America started coverage on shares of Spirit Airlines in a research note on Wednesday, January 17th. They set an "underperform" rating and a $5.00 price objective on the stock. Susquehanna reduced their price objective on shares of Spirit Airlines from $5.00 to $4.00 and set a "negative" rating on the stock in a research note on Tuesday, April 9th. Seaport Res Ptn downgraded shares of Spirit Airlines from a "buy" rating to a "neutral" rating in a research note on Wednesday, January 17th. Finally, Citigroup reduced their price objective on shares of Spirit Airlines from $4.00 to $3.85 and set a "sell" rating on the stock in a research note on Wednesday, April 17th. Five research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $4.91.

Spirit Airlines Company Profile

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.