In today’s recent session, 13.59 million shares of the Spirit Airlines Inc (NYSE:SAVE) have been traded, and its beta is 1.38. Most recently the company’s share price was $2.93, and it changed around $0.14 or 5.20% from the last close, which brings the market valuation of the company to $321.44M. SAVE at last check was trading at a discount to its 52-week high of $16.55, offering almost -464.85% off that amount. The share price’s 52-week low was $1.40, which indicates that the recent value has risen by an impressive 52.22% since then. We note from Spirit Airlines Inc’s average daily trading volume that its 10-day average is 30.52 million shares, with the 3-month average coming to 8.99 million.
Spirit Airlines Inc stock received a consensus recommendation rating of Hold, based on a mean score of 4.25. If we narrow it down even further, the data shows that 1 out of 14 analysts rate the stock as a Sell; another 4 rate it as Overweight. Among the rest, 8 recommended SAVE as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. Spirit Airlines Inc is expected to report earnings per share of -2.22 for the current quarter.
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Spirit Airlines Inc (NYSE:SAVE) trade information
Instantly SAVE has been showing a green trend so far today with a performance of 5.20% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 3.30 on recent trading dayincreased the stock’s daily price by 11.21%. The company’s shares are currently down -81.59% year-to-date, but still up 30.44% over the last five days. On the other hand, Spirit Airlines Inc (NYSE:SAVE) is 20.29% up in the 30-day period. We can see from the shorts that 36.66 million shares have been sold at a short interest cover period of 5.26 day(s).
The consensus price target as assigned by Wall Street analysts is $25, which translates to bulls needing to increase their stock price by 88.28% from its current value. Analyst projections state that SAVE is forecast to be at a low of $2 and a high of $35.
Spirit Airlines Inc (SAVE) estimates and forecasts
Spirit Airlines Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -21.94 percent over the past six months and at a -111.85% annual growth rate that is well below the industry average of -15.80%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -62.00% in revenue this quarter, and will report a decrease of -13.20% in the next quarter. The year-over-year growth rate is expected to be -8.30%, down from the previous year.
Consensus estimates provided by 9 financial analysts predict the company will bring in an average of 1.17B in revenue for the current quarter. 9 analysts expect Spirit Airlines Inc to make 1.18B in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 1.26B and 1.32B respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -6.80%. Forecasts for the next quarter put sales growth at -10.70%.
SAVE Dividends
Spirit Airlines Inc’s next quarterly earnings report is expected to be released on 2024-Oct-28. The annual dividend yield of the stock is 0.00 percent and its annual dividend per share was 0.00. It is important to note, however, that the 0.00% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.
Spirit Airlines Inc (NYSE:SAVE)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.86% of Spirit Airlines Inc shares, and 47.32% of them are in the hands of institutional investors. The stock currently has a share float of 47.73%. Spirit Airlines Inc stock is held by 246.0 institutions, with GRAHAM CAPITAL MANAGEMENT, L.P. being the largest institutional investor. By 2024-06-30, it held 7.7863% of the shares, which is about 8.52 million shares worth $31.19 million.
BLACKROCK INC., with 7.4261% or 8.13 million shares worth $29.74 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
