Spirit Airlines (SAVE) Set to Announce Earnings on Wednesday

Spirit Airlines (NYSE:SAVEGet Free Report) is scheduled to be announcing its earnings results after the market closes on Wednesday, February 7th. Analysts expect the company to announce earnings of ($1.52) per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Spirit Airlines Price Performance

Shares of Spirit Airlines stock opened at $6.38 on Wednesday. The business’s fifty day moving average price is $13.41 and its 200 day moving average price is $14.75. The stock has a market capitalization of $696.49 million, a P/E ratio of -1.30 and a beta of 1.36. Spirit Airlines has a twelve month low of $4.04 and a twelve month high of $20.24. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 2.31.

Spirit Airlines Announces Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, January 31st. Investors of record on Thursday, January 25th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, January 24th.

Institutional Investors Weigh In On Spirit Airlines

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SAVE. International Assets Investment Management LLC boosted its holdings in shares of Spirit Airlines by 467.7% during the 4th quarter. International Assets Investment Management LLC now owns 1,970 shares of the company’s stock worth $32,000 after buying an additional 1,623 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in Spirit Airlines by 272.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,119 shares of the company’s stock worth $41,000 after purchasing an additional 1,550 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new position in Spirit Airlines during the 2nd quarter worth approximately $74,000. Quarry LP acquired a new position in Spirit Airlines in the 1st quarter valued at approximately $86,000. Finally, Money Concepts Capital Corp boosted its stake in shares of Spirit Airlines by 55,625.0% in the 4th quarter. Money Concepts Capital Corp now owns 4,458 shares of the company’s stock valued at $87,000 after purchasing an additional 4,450 shares during the last quarter. 65.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SAVE shares. TD Cowen reduced their price objective on Spirit Airlines from $11.00 to $5.00 and set a “market perform” rating for the company in a research report on Monday, January 22nd. Seaport Res Ptn downgraded shares of Spirit Airlines from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 17th. Citigroup cut shares of Spirit Airlines from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $13.00 to $4.00 in a report on Thursday, January 18th. Bank of America began coverage on shares of Spirit Airlines in a report on Wednesday, January 17th. They set an “underperform” rating and a $5.00 price target for the company. Finally, Susquehanna reissued a “negative” rating and issued a $5.00 price target (down previously from $15.00) on shares of Spirit Airlines in a research report on Wednesday, January 17th. Four analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to MarketBeat.com, Spirit Airlines presently has an average rating of “Reduce” and a consensus price target of $8.17.

View Our Latest Research Report on Spirit Airlines

About Spirit Airlines

(Get Free Report)

Spirit Airlines, Inc provides airline services. The company provides front seats, including wider seats with extra legroom, carry-on and checked baggage, assigned seats, travel insurance, and onboard beverages and snacks, as well as hotels, cars, vacation packages, and cruises services. It serves 92 destinations in 16 countries in the United States, Latin America, and the Caribbean.

See Also

Earnings History for Spirit Airlines (NYSE:SAVE)

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