In the last trading session, 5.92 million shares of the Spirit Airlines Inc (NYSE:SAVE) were traded, and its beta was 1.35. Most recently the company’s share price was $4.84, and it changed around $0.22 or 4.76% from the last close, which brings the market valuation of the company to $529.88M. SAVE currently trades at a discount to its 52-week high of $18.44, offering almost -280.99% off that amount. The share price’s 52-week low was $3.93, which indicates that the current value has risen by an impressive 18.8% since then. We note from Spirit Airlines Inc’s average daily trading volume that its 10-day average is 5.9 million shares, with the 3-month average coming to 17.24 million.
Spirit Airlines Inc stock received a consensus recommendation rating of Hold, based on a mean score of 3.77. If we narrow it down even further, the data shows that 4 out of 12 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 7 recommended SAVE as a Hold, whereas 0 deemed it a Buy, and 1 rated it as Underweight. Spirit Airlines Inc is expected to report earnings per share of -$1.42 for the current quarter.
Spirit Airlines Inc (NYSE:SAVE) trade information
Instantly SAVE has showed a green trend with a performance of 4.76% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -69.64% year-to-date, but still up 2.33% over the last five days. On the other hand, Spirit Airlines Inc (NYSE:SAVE) is -25.42% down in the 30-day period. We can see from the shorts that 26.49 million shares have been sold at a short interest cover period of 3.6 day(s).
The consensus price target as assigned by Wall Street analysts is $25.89, which translates to bulls needing to increase their stock price by 81.31% from its current value. Analyst projections state that SAVE is forecast to be at a low of $4 and a high of $35.
Spirit Airlines Inc (SAVE) estimates and forecasts
Spirit Airlines Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -69.25 percent over the past six months and at a 14.89% annual growth rate that is well above the industry average of -2.50%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -73.20% in revenue this quarter, and will report a decrease of -234.50% in the next quarter. The year-over-year growth rate is expected to be 6.00%, up from the previous year.
Consensus estimates provided by 8 financial analysts predict the company will bring in an average of $1.27 billion in revenue for the current quarter. 8 analysts expect Spirit Airlines Inc to make $1.48 billion in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $1.35 billion and $1.47 billion respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -6.10%. Forecasts for the next quarter put sales growth at 0.60%.
SAVE Dividends
Spirit Airlines Inc’s next quarterly earnings report is expected to be released around April 24 and April 29.
Spirit Airlines Inc (NYSE:SAVE)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.64% of Spirit Airlines Inc shares, and 60.31% of them are in the hands of institutional investors. The stock currently has a share float of 60.70%. Spirit Airlines Inc stock is held by 308 institutions, with Vanguard Group Inc being the largest institutional investor. By Dec 30, 2023, it held 9.52% of the shares, which is about 10.42 million shares worth $50.43 million.
Blackrock Inc., with 7.69% or 8.42 million shares worth $40.76 million as of Dec 30, 2023, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund were the top two Mutual Funds as of Dec 30, 2023. The former held 3.44 million shares worth $16.66 million, making up 3.14% of all outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held roughly 2.78 million shares worth around $13.45 million, which represents about 2.54% of the total shares outstanding.
