Spirit (SAVE) closed at $17.40 in the latest trading session, marking a -1.86% move from the prior day. This move lagged the S&P 500's daily gain of 0.45%. Elsewhere, the Dow gained 0.36%, while the tech-heavy Nasdaq added 0.52%.
Coming into today, shares of the airline had gained 2.43% in the past month. In that same time, the Transportation sector gained 7.4%, while the S&P 500 gained 2.08%.
Wall Street will be looking for positivity from SAVE as it approaches its next earnings report date. The company is expected to report EPS of -$2.93, down 273.37% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $102.46 million, down 89.88% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$5.95 per share and revenue of $1.91 billion. These totals would mark changes of -216.9% and -50.16%, respectively, from last year.
Any recent changes to analyst estimates for SAVE should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.2% higher. SAVE currently has a Zacks Rank of #3 (Hold).
The Transportation - Airline industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 199, which puts it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Spirit Airlines, Inc. (SAVE) : Free Stock Analysis Report
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July 03, 2020 at 04:45AM
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Spirit (SAVE) Stock Sinks As Market Gains: What You Should Know - Yahoo Finance
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