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Spirit (SAVE) Stock Sinks As Market Gains: What You Should Know

Zacks Equity Research

In the latest trading session, Spirit (SAVE) closed at $19.90, marking a -0.1% move from the previous day. This change lagged the S&P 500's daily gain of 0.06%. Elsewhere, the Dow lost 0.15%, while the tech-heavy Nasdaq added 0.33%.

Investors will be hoping for strength from SAVE as it approaches its next earnings release. On that day, SAVE is projected to report earnings of -$2.83 per share, which would represent a year-over-year decline of 267.46%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $79.03 million, down 92.2% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$6.37 per share and revenue of $1.84 billion. These totals would mark changes of -225.15% and -52.02%, respectively, from last year.

It is also important to note the recent changes to analyst estimates for SAVE. 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.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 6.84% lower. SAVE currently has a Zacks Rank of #3 (Hold).

The Transportation - Airline industry is part of the Transportation sector. This group has a Zacks Industry Rank of 171, putting it in the bottom 33% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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