In the latest trading session, 0.94 million Spirit Airlines Inc (NYSE:SAVE) shares changed hands as the company’s beta touched 1.40. With the company’s most recent per share price at $2.84 changing hands around $0.05 or 1.61% at last look, the market valuation stands at $310.49M. SAVE’s current price is a discount, trading about -498.59% off its 52-week high of $17.00. The share price had its 52-week low at $2.49, which suggests the last value was 12.32% up since then. When we look at Spirit Airlines Inc’s average trading volume, we note the 10-day average is 3.76 million shares, with the 3-month average coming to 5.08 million.
Analysts gave the Spirit Airlines Inc (SAVE) stock a consensus recommendation rating of Buy, calculated at a mean rating of 4.33. If we narrow down to specifics, the data shows that 4 out of 11 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended SAVE as a Hold, 6 felt it is a Buy and 0 rated the stock as Underweight. Spirit Airlines Inc’s EPS for the current quarter is expected to be -2.28.
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Spirit Airlines Inc (NYSE:SAVE) trade information
Instantly SAVE is in green as seen in intraday trades today. With action 12.50%, the performance over the past five days has been green. The company’s shares are showing year-to-date downside of -82.22%, with the 5-day performance at 12.50% in the green. However, in the 30-day time frame, Spirit Airlines Inc (NYSE:SAVE) is 1.61% up. Looking at the short shares, we see there were 32.81 million shares sold at short interest cover period of 5.79 days.
The consensus price target for the stock as assigned by Wall Street analysts is 25, meaning bulls need an upside of 88.64% from its recent market value. According to analyst projections, SAVE’s forecast low is 2 with 35 as the target high. To hit the forecast high, the stock’s price needs a -1132.39% plunge from its current level, while the stock would need to tank 29.58% for it to hit the projected low.
Spirit Airlines Inc (SAVE) estimates and forecasts
Data shows that the Spirit Airlines Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -56.51% over the past 6 months, a -104.86% in annual growth rate that is considerably lower than the industry average of -15.60%. Year-over-year growth is forecast to reach -6.60% down from the last financial year.
Consensus estimates given by 8 financial analysts project the company’s revenue in the current quarter to hit an average of 1.18B. 8 analysts are of the opinion that Spirit Airlines Inc’s revenue for the current quarter will be 1.26B. The company’s revenue for the corresponding quarters a year ago was 1.26B and 1.32B respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -6.10%. The estimates for the next quarter sales put growth at -4.60%.
The 2024 estimates are for Spirit Airlines Inc earnings to decrease by -103.59%.
SAVE Dividends
Spirit Airlines Inc is expected to release its next quarterly earnings report on 2024-Oct-24. The 0.00% annual yield figure for the share gives it an annual dividend of 0.00. It is important to note, however, that the 0.00% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
Spirit Airlines Inc (NYSE:SAVE)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.66% of Spirit Airlines Inc shares while 45.06% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 45.37%. There are 45.06% institutions holding the Spirit Airlines Inc stock share, with VANGUARD GROUP INC the top institutional holder. As of 2024-03-31, the company held 9.6104% of the shares, roughly 10.49 million SAVE shares worth $50.78 million.
BLACKROCK INC. holds the second largest percentage of outstanding shares, with 7.1972% or 7.86 million shares worth $38.03 million as of 2024-03-31.
Among Mutual Funds, the top two as of Mar 31, 2024 were Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. With 3.45 shares estimated at $9.81 million under it, the former controlled 3.15% of total outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held about 2.54% of the shares, roughly 2.79 shares worth around $7.92 million.
