Analysts Expect Spirit Airlines Incorporated (NASDAQ:SAVE) Will Announce Quarterly Sales of $1.03 Billion
Equities analysts forecast that Spirit Airlines Incorporated (NASDAQ:SAVE) will announce sales of $1.03 billion for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Spirit Airlines’ earnings. The highest sales estimate is $1.05 billion and the lowest is $1.02 billion. Spirit Airlines reported sales of $904.33 million during the same quarter last year, which suggests a positive year over year growth rate of 13.9%. The company is expected to announce its next earnings results on Wednesday, October 23rd.
According to Zacks, analysts expect that Spirit Airlines will report full year sales of $3.88 billion for the current fiscal year, with estimates ranging from $3.86 billion to $3.91 billion. For the next fiscal year, analysts forecast that the business will report sales of $4.49 billion, with estimates ranging from $4.34 billion to $4.57 billion. Zacks’ sales calculations are an average based on a survey of research analysts that cover Spirit Airlines.
Spirit Airlines (NASDAQ:SAVE) last issued its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.05. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.01 billion. The firm’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.11 EPS.
In other news, Director Robert D. Johnson sold 750 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $45.97, for a total transaction of $34,477.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.33% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quadrant Capital Group LLC acquired a new stake in Spirit Airlines in the 1st quarter valued at $25,000. Meridian Wealth Management LLC acquired a new stake in Spirit Airlines in the 1st quarter valued at $26,000. Steward Partners Investment Advisory LLC acquired a new stake in Spirit Airlines in the 2nd quarter valued at $28,000. Northwestern Mutual Wealth Management Co. grew its position in Spirit Airlines by 148.4% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,580 shares of the transportation company’s stock valued at $84,000 after purchasing an additional 944 shares during the period. Finally, Hsbc Holdings PLC acquired a new stake in Spirit Airlines in the 4th quarter valued at $239,000.
Shares of NASDAQ SAVE opened at $42.37 on Friday. The firm has a 50 day simple moving average of $49.38. Spirit Airlines has a 1 year low of $41.74 and a 1 year high of $65.35.
About Spirit Airlines
Spirit Airlines, Inc is an airline company. The Company provides air transportation for passengers. As of December 31, 2016, its all-Airbus Fit Fleet operated over 420 daily flights to 59 destinations in the United States, Caribbean and Latin America. As of December 31, 2016, it had a fleet of 95 Airbus single-aisle aircraft, which are referred to as A320 family aircraft and include the A319, A320 and A321 models, which have common design and equipment but differ most notably in fuselage length, service range and seat capacity.
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