Seaport Res Ptn Weighs in on Spirit Airlines, Inc.’s FY2026 Earnings (NYSE:SAVE)

Spirit Airlines, Inc. (NYSE:SAVE) – Seaport Res Ptn issued their FY2026 earnings estimates for Spirit Airlines in a research report issued on Monday, May 6th. Seaport Res Ptn analyst D. Mckenzie anticipates that the company will post earnings of $0.50 per share for the year. Seaport Res Ptn has a “Neutral” rating on the stock. The consensus estimate for Spirit Airlines’ current full-year earnings is ($2.79) per share.

A number of other research firms also recently commented on SAVE. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Spirit Airlines from $4.00 to $3.00 and set a “hold” rating on the stock in a research report on Tuesday. Bank of America assumed coverage on shares of Spirit Airlines in a report on Wednesday, January 17th. They set an “underperform” rating and a $5.00 price target for the company. Susquehanna reduced their target price on shares of Spirit Airlines from $4.00 to $3.00 and set a “negative” rating for the company in a research note on Wednesday. Barclays began coverage on shares of Spirit Airlines in a research note on Wednesday, March 27th. They issued an “underweight” rating and a $4.00 price objective for the company. Finally, Evercore ISI dropped their target price on shares of Spirit Airlines from $18.00 to $3.50 and set an “in-line” rating on the stock in a research report on Thursday, April 4th. Five research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $3.62.

Spirit Airlines Stock Up 2.6 %

SAVE stock opened at $3.41 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 2.69. Spirit Airlines has a fifty-two week low of $3.18 and a fifty-two week high of $19.69. The firm’s 50-day simple moving average is $4.47 and its 200 day simple moving average is $9.11. The stock has a market cap of $372.85 million, a PE ratio of -0.82 and a beta of 1.41.

Spirit Airlines (NYSE:SAVE) last issued its earnings results on Monday, May 6th. The company reported ($1.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.45) by ($0.01). The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.27 billion. Spirit Airlines had a negative return on equity of 26.38% and a negative net margin of 8.34%. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same period last year, the company posted ($0.82) earnings per share.

Hedge Funds Weigh In On Spirit Airlines

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Spirit Airlines by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 10,418,903 shares of the company’s stock valued at $170,766,000 after buying an additional 68,710 shares during the last quarter. FMR LLC raised its stake in Spirit Airlines by 1.3% in the 3rd quarter. FMR LLC now owns 5,296,283 shares of the company’s stock valued at $87,389,000 after acquiring an additional 67,977 shares during the period. Dimensional Fund Advisors LP raised its stake in Spirit Airlines by 13.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,143,384 shares of the company’s stock valued at $51,520,000 after acquiring an additional 363,519 shares during the period. Alpine Associates Management Inc. raised its stake in Spirit Airlines by 29.7% in the 3rd quarter. Alpine Associates Management Inc. now owns 1,904,500 shares of the company’s stock valued at $31,424,000 after acquiring an additional 436,486 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Spirit Airlines by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,057,224 shares of the company’s stock valued at $17,328,000 after acquiring an additional 32,811 shares during the period. Institutional investors and hedge funds own 58.73% of the company’s stock.

Spirit Airlines Announces Dividend

The company also recently declared a dividend, which was paid on Thursday, February 29th. Shareholders of record on Friday, February 23rd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, February 22nd.

About Spirit Airlines

Spirit Airlines, Inc provides airline services. The company also offers hotels and rental cars services. It serves 93 destinations in 15 countries in the United States, Latin America, and the Caribbean. As of December 31, 2023, the company operated a fleet of 205 Airbus single-aisle aircraft. The company was formerly known as Clippert Trucking Company and changed its name to Spirit Airlines, Inc in 1992.