Spirit Airlines, Inc. (NYSE:SAVE) concluded the trading on Wednesday, Sep 23, with a fall of -2.84% from its closing price on previous day.
Taking a look at stock we notice that its last check on previous day was $16.55 and 5Y monthly beta was reading 1.21 with its price kept floating in the range of $16.08 and $17.25 on the day. Company’s P/E ratio for the trailing 12 months is 88.35. Considering stock’s 52-week price range provides that SAVE hit a high price of $47.5 and saw its price falling to a low level of $7.01 during that period. Over a period of past 1-month, stock came losing -11.7% in its value.
With its current market valuation of $1.46 Billion, Spirit Airlines, Inc. is set to declare its quarterly results on Oct 21, 2020- Oct 26, 2020. SAVE Stock’s Forward Dividend of 0 and its yield of 0 are making investors’ thoughts stronger that it could fall further before the company announces its earnings for the current quarter. Analysts are in estimates of -$2.72 per share for company’s earnings in the current quarter and are expecting its annual EPS growth moving down to -$8.71 for 2020 with estimates of that growing to $0.38 in next year. These estimates are suggesting current year growth of -2.71% for EPS and -1.04% growth next year.
In contrast, when we review SAVE stock’s current outlook then short term indicators are assigning it an average of Hold, while medium term indicators are categorizing the stock at an average of Hold. Long term indicators are suggesting an average of 100% Sell for it.
Having a second look at Spirit Airlines, Inc. (NYSE:SAVE) provides that stock’s average daily trading volume for 3 months was 12.27 Million, while it jumped to 7.75 Million when we calculate an average volume for past 10 days. Number of outstanding shares of the stock currently stood at 97.67 Million.
Data compiled by Thomson Reuters highlights that percentage of outstanding shares held by the insiders is 0.76% while it is 102.2% for the institutional holders. The figures also indicate that as of August 30, 2020, number of stock’s short shares was 18120000 which implies a short ratio of 1.79. This shows up a 20.43% of Short Interest in company’s outstanding shares on the day. In August the standing of shares short declined as it was 20.84 Million in the previous month. Drop of -60.11% by stock’s current price to its year-to-date value in today’s trading is likely to be increasing investors’ worries about the stock as it is hinting a further drop.