Earnings from Spirit Airlines Inc. [SAVE] are scheduled on April 21, 2021, after the market closes. It is expected that the company will report weak earnings for the quarter ending Mar 2021.
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SAVE Stock Earnings Outlook For The Current Quarter
The consensus estimates for the quarter suggest that the company would earn -$2.54 per share on revenue of $459.1M. Taking a look at the future, the company is projected to report revenue of $746.05M at an earnings per share of -$1.22 for the Jun 2021 quarter. The estimates represent year-over-year improvements of 41.10% in revenue and 147.50% in earnings per share for the company.
SAVE Stock Earnings Forecast For The Current Year
For the full financial year, Spirit Airlines Inc. [NYSE:SAVE] is forecasted to generate revenue of $3B. The figure is about $1.19 billion above what the company actually reported for the fiscal year 2020. In terms of EPS, it is estimated to be -$3.86 in 2021, which is $4.62 higher than the figure in FY20. Based on current estimates, earnings are expected to grow 54.50% this year, 147.70% next year, and -48.80% annually over the next five years. With regard to sales, forecasts suggest an incline of 65.60% in current fiscal year and 41.10% over following year.
SAVE Stock Price Performance
At recent check today, Spirit Airlines Inc. [NYSE:SAVE] finished up 1.46% at $35.17. The stock’s day high price was $35.61, and its lowest was $33.76. Its price fall -6.40% in the last five days. Since the beginning of the year, Spirit Airlines Inc.’s shares are up nearly 41.80%. However, the share price is -13.72% below its one year high. The top price reached by the shares of the company was $40.77 on 03/18/21, while the 52-week low came on 01/05/21, when the shares were $22.87. In the past year, shares of the company have risen 167.72%. At 50 days, the moving average achieved is $36.18 while at 200 days, the moving average is $24.24. There were 1.34 million shares traded in the last session, down from 3.13 million in the previous session.
Spirit Airlines Inc. [NYSE:SAVE] Investors may find it helpful to look at historical price-sales ratios, and in the case of this stock, 1.89 PS value ratio is reported for the last one year of reported earnings. This is above the average return 1.11 for the industry, which means SAVE offers an unattractive investment opportunity than its competitors do.
SAVE Share Price Support And Resistance Levels
Based on the daily chart, the immediate backing lies around the 35.12 level, and the violation of this level will cause a further drop to 33.75 level. At the upper end, 37.45 remains a key resistance. As the stock increases, it may find resistance at 36.53. In the 14-day chart, the Relative Strength Index standing at 43.80 suggests a technical neutral stance while the MACD standing at -1.43 indicates price will decrease in the next trading period. Stochastic %K at 28.65% suggests holding the stock while Percent R indicator at 66.79% suggests low price movement.
How much is the short interest in Spirit Airlines Inc.?
There have been a drop in short interest in the Spirit Airlines Inc. Financial stock, with short interest down by -2.34 million shares to 12.46 million shares on Feb 25, 2021. According to data provided by Yahoo Finance, the short interest on Mar 30, 2021 stood at 10.12 million shares. This 18.78% increase suggests some bearish sentiment was experienced by the stock. Shorted shares accounted for just 10.39% of the overall float in the stock, while the stock’s days to cover moved to 2.26.
How do analysts view Spirit Airlines Inc.?
In regard to the share price forecast for Spirit Airlines Inc. stock, the analysts, as surveyed by FactSet, forecast the price to reach $40.00 in the next twelve months, representing almost an 12.07% growth from its recent price of $35.17. Among Spirit Airlines Inc. stock projections, $54.00 is the highest analyst target for the stock, while $21.00 is the lowest. Despite this, 13 analysts who share their consensus rating for SAVE in 2021 agree that the stock is an Overweight. The latest rating change took place on 4/14/21, when JP Morgan Ratings upgraded the stock from “Underweight” to “Overweight.”