Spirit Airlines, Inc. (NYSE:SAVE) is reporting third quarter earnings results on Wednesday 28th October 2020, after market close.
The consensus estimates from Thomson Reuters are loss of $ 2.72 per share from $ 375.30 million in revenue.
For the full year, analysts predict revenues of $ 1741.33 million, while looking forward to loss of $ 9 per share.
Previous Quarter Performance
Spirit Airlines, Inc. revealed loss for the second quarter of $ 3.59 per share, from the revenue of $ 138.53 million. The quarterly revenues shrunk 86.32 percent compared with the same quarter last year. Street analysts expected Spirit Airlines, Inc. to report loss of $ 2.66 per share on revenue of $ 108.38 million for the second quarter. The bottom line results missed street analysts by $ 0.93 or 34.96 percent, at the same time, top line results outshined analysts by $ 30.15 million or 27.82 percent.
Stock Performance
Shares of Spirit Airlines, Inc. traded low $ -0.60 or -3.50 percent on Tuesday, reaching $ 16.53 with volume of 5.43 million shares. Spirit Airlines, Inc. has traded high as $ 17.28 and has cracked $ 16.51 on the downward trend
According to the previous trading day, closing price of $ 16.53, representing a 144.37 % increase from the 52 week low of $ 7.01 and a 63.94 % decrease over the 52 week high of $ 47.50.
The company has a market capital of $ 1.61 billion and is part of the Industrials sector and Airlines industry.
Recent Analyst recommendations
- On 7th October 2020, upgraded by JPMorgan Chase & Co. to Neutral from Underweight rating, with $ 19.00 target price.
Spirit Airlines, Inc. provides low-fare airline services. The company operates approximately 600 daily flights to 72 destinations in the United States, the Caribbean, and Latin America.
