A share price of Spirit Airlines Inc [SAVE] is currently trading at $4.91, up 4.03%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The SAVE shares have gain 6.05% over the last week, with a monthly amount glided 1.24%, and seem to be holding up well over a long-time horizon.
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On 8, April 2024, Spirit Airlines Announces Deferral of Airbus Aircraft Deliveries. In a post published today on Yahoo Finance, Spirit Airlines, Inc. (“Spirit” or the “Company”) (NYSE: SAVE) today announced that it reached an agreement with Airbus to defer all aircraft on order that are scheduled to be delivered in the second quarter of 2025 through the end of 2026 to 2030-2031. These deferrals do not include the direct-lease aircraft scheduled for delivery in that period, one each in the second and third quarter 2025, respectively. The agreement with Airbus will improve Spirit’s liquidity position by approximately $340 million over the next two years.
From an analyst’s perspective:
Previously, TD Cowen reaffirmed its Market Perform rating on January 22, 2024, and dropped its price target to $5. On January 18, 2024, downgrade downgraded it’s rating to Sell and revised its price target to $4 on the stock. Susquehanna downgraded its rating to a Negative and reduced its price target to $5 on January 17, 2024. Seaport Research Partners downgraded its rating to Neutral for this stock on January 17, 2024. In a note dated December 20, 2022, Deutsche Bank downgraded an Hold rating on this stock and revised its target price from $27 to $24.
Spirit Airlines Inc experienced fluctuations in its stock price throughout the past year between $3.93 and $18.44. Currently, Wall Street analysts expect the stock to reach $25.89 within the next 12 months. Spirit Airlines Inc [NYSE: SAVE] shares were valued at $4.91 at the most recent close of the market. An investor can expect a potential return of 427.29% based on the average SAVE price forecast.
Analyzing the SAVE fundamentals
Trailing Twelve Months sales for Spirit Airlines Inc [NYSE:SAVE] were 5.36B which represents -5.00% decline. Gross Profit Margin for this corporation currently stands at 0.11% with Operating Profit Margin at -0.09%, Pretax Profit Margin comes in at -0.1%, and Net Profit Margin reading is -0.08%. To continue investigating profitability, this company’s Return on Assets is posted at -0.05, Equity is -0.33 and Total Capital is -0.06. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 6.11.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 4.72 points at the first support level, and at 4.54 for the second support level. However, for the 1st resistance point, the stock is sitting at 5.02, and for the 2nd resistance point, it is at 5.14.
Spirit Airlines Inc [SAVE] reported earnings per share of -$1.36 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$1.46/share, meaning a difference of $0.1 and a surprise factor of 6.80%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were -$1.37 per share as compared to estimates of -$1.48 per share, a difference of $0.11 representing a surprise of 7.40%.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Spirit Airlines Inc [NYSE:SAVE] is 0.90. Further, the Quick Ratio stands at 0.90, while the Cash Ratio is 0.52. Considering the valuation of this stock, the price to sales ratio is 0.10, the price to book ratio is 0.47.
