During the recent session, Spirit Airlines Inc (NYSE:SAVE)’s traded shares were 0.75 million, with the beta value of the company hitting 1.40. At the last check today, the stock’s price was $2.71, reflecting an intraday gain of 2.84% or $0.07. The 52-week high for the SAVE share is $17.00, that puts it down -527.31 from that peak though still a striking 8.12% gain since the share price plummeted to a 52-week low of $2.49. The company’s market capitalization is $297.35M, and the average intraday trading volume over the past 10 days was 3.18 million shares, and the average trade volume was 5.01 million shares over the past three months.
Spirit Airlines Inc (SAVE) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 4.33. SAVE has a Sell rating from 4 analyst(s) out of 11 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 6 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -2.28.
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Spirit Airlines Inc (NYSE:SAVE) trade information
Spirit Airlines Inc (SAVE) registered a 2.84% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 2.84% in intraday trading to $2.71, hitting a weekly high. The stock’s 5-day price performance is -3.04%, and it has moved by -1.63% in 30 days. Based on these gigs, the overall price performance for the year is -82.80%. The short interest in Spirit Airlines Inc (NYSE:SAVE) is 34.72 million shares and it means that shorts have 6.65 day(s) to cover.
The consensus price target of analysts on Wall Street is $25, which implies an increase of 89.16% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $2 and $35 respectively. As a result, SAVE is trading at a discount of -1191.51% off the target high and 26.2% off the low.
Spirit Airlines Inc (SAVE) estimates and forecasts
Statistics show that Spirit Airlines Inc has underperformed its competitors in share price, compared to the industry in which it operates. Spirit Airlines Inc (SAVE) shares have gone down -57.97% during the last six months, with a year-to-date growth rate less than the industry average at -110.94% against -19.10. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -66.40% this quarter and then drop -10.30% in the quarter after that. In the rating firms’ projections, revenue will decrease -6.60% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 1.18B as predicted by 8 analyst(s). Meanwhile, a consensus of 8 analyst(s) estimates revenue growth to 1.26B by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 1.26B and 1.32B respectively. In this case, analysts expect current quarter sales to shrink by -6.10% and then drop by -4.60% in the coming quarter.
While earnings are projected to return -103.59% in 2024.
SAVE Dividends
Spirit Airlines Inc is due to release its next quarterly earnings on 2024-Oct-24. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Spirit Airlines Inc is 0.00, with the dividend yield indicating at 0.00 percent, continuing the trend of increasing dividends in recent years.
Spirit Airlines Inc (NYSE:SAVE)’s Major holders
Spirit Airlines Inc insiders own 0.86% of total outstanding shares while institutional holders control 45.11%, with the float percentage being 45.50%. GRAHAM CAPITAL MANAGEMENT, L.P. is the largest shareholder of the company, while 262.0 institutions own stock in it. As of 2024-06-30, the company held over 8.52 million shares (or 7.7863% of all shares), a total value of $31.19 million in shares.
The next largest institutional holding, with 8.13 million shares, is of BLACKROCK INC.’s that is approximately 7.4261% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $29.74 million.
