Spirit Airlines, Inc. (SAVE) is an American ultra-low-cost carrier headquartered in Miramar, Florida in the Miami metropolitan area. It is the eighth largest commercial airline in North America. Spirit operates scheduled flights throughout the United States and in the Caribbean and Latin America. The airline operates bases at Atlantic City, Baltimore, Chicago–O’Hare, Detroit, and so on.
According to the report published by Seaport Global Securities on December 3, the company is supposed to post their 3rd quarter 2021 earnings of $0.65. This is down from their previously estimated EPS that stood at $0.75.
Spirit Airlines, Inc. (NASDAQ: SAVE) Stock Analysis
The quarterly earnings report for the previous quarter was released on the 2nd of November. The earnings stood at $2.32 EPS as opposed to the general consensus of $2.64 given out by Zacks Investment Research analysts. This suggests that SAVE stock beat the margin by $0.32. The estimated income of the company was marked at $384.69 million but it made $401.92 million. According to the stock’s current metrics, SAVE opened on Monday at $26.76. The 50SMA stands at $19.29 and the 200SMA stands at $17.56. the 12 monthly high to low ranges from $47.50 to $7.01 respectively.
NASDAQ: SAVE has recently been the subject of a lot of reports by research analysts. Some such as Barclays, BidaskClub, JP Morgan & Chase and so on have posted reports on this firm over the last few months.
Barclays upped its price objective to $24.00 on Sep. 18. Others like BidAskClub changed the firm’s rating from “hold” to “sell” rating on October 16. JP Morgan & Chase increased SAVE rating from “sell” to “hold’ on 2nd November.
Thus, the recent consensus on Spirit Airlines, Inc. stands at a “hold” rating and the consensus on the target price stands at $21.86. Several hedge funds have also been involved in buying and selling of NASDAQ: SAVE shares recently.