23.17 +0.55 (2.43%)
After hours: 6:35PM EDT
|Bid||23.16 x 1400|
|Ask||23.21 x 1200|
|Day's Range||21.26 - 25.93|
|52 Week Range||7.01 - 55.21|
|Beta (5Y Monthly)||0.37|
|PE Ratio (TTM)||4.47|
|Earnings Date||Jul 22, 2020 - Jul 27, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||13.33|
Yahoo Finance's Myles Udland, Seana Smith, Dan Roberts and Melody Hahm discuss the latest news out of the major airlines regarding summer flight schedules and what it means for summer travel.
Helane Becker, Cowen Senior Research Analyst, joined Yahoo Finance's The Final Round to discuss the rally airline stocks saw today and the new that American Airlines plans to fly 55% of its domestic schedule in July.
Spirit (SAVE) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Analysts expressed skepticism that the big moves reflect anything more than a short squeeze, as investors who had bet against the stocks bought shares to cover their positions.
Some of the gains are likely attributable to a short-squeeze, whereby investors who have bet against the stock must buy it to cover their positions. American is one of the most heavily shorted airline stocks.
Looking into the current session, Spirit Airlines Inc. (NYSE: SAVE) shares are trading at $19.91, after a 15.82% increase. Moreover, over the past month, the stock went up by 89.43%, but in the past year, decreased by 59.45%. Shareholders might be interested in knowing whether the stock is undervalued, even if the company is performing up to par in the current session.The stock is currently higher from its 52 week low by 184.02%. Assuming that all other factors are held constant, this could present itself as an opportunity for investors trying to diversify their portfolio with Airlines stocks, and capitalize on the lower share price observed over the year.The P/E ratio is used by long-term shareholders to assess the company's market performance against aggregate market data, historical earnings, and the industry at large. A lower P/E indicates that shareholders do not expect the stock to perform better in the future, and that the company is probably undervalued. It shows that shareholders are less than willing to pay a high share price, because they do not expect the company to exhibit growth, in terms of future earnings.Most often, an industry will prevail in a particular phase of a business cycle, than other industries.Spirit Airlines Inc. has a lower P/E than the aggregate P/E of 9.77 of the airlines industry. Ideally, one might believe that they might perform worse than its peers, but it's also probable that the stock is undervalued.P/E ratio is not always a great indicator of the company's performance. Depending on the earnings makeup of a company, investors may not be able to attain key insights from trailing earnings.See more from Benzinga * 17 Industrials Stocks Moving In Thursday's Pre-Market Session * 11 Industrials Stocks Moving In Wednesday's Pre-Market Session * 15 Industrials Stocks Moving In Tuesday's Pre-Market Session(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Carriers right now are trading in lockstep with economic sentiment, and sentiment today is positive.
Investors who owned stocks in the 2010s generally experienced some big gains. In fact, the SPDR S&P 500 (NYSE: SPY) total return for the decade was 250.5%. But there's no question some big-name stocks did much better than others along the way.Spirit's Difficult DecadeOne underperformer of the last decade was U.S. airline Spirit Airlines Incorporated (NYSE: SAVE).Back in 2010, Spirit Airlines was still transitioning its business model to become an ultra-low-cost airline. Spirit offered lower ticket prices and instead began charging for amenities such as seat selection and travel insurance. In April 2010, Spirit became the first major airline to begin charging passengers for carry-on bags.In May 2011, Spirit decided to go public, selling 15.6 million shares at a price of $12 each, below its target range of between $14 and $16. After an initial pullback to as low as $10.18 in the stock's first few weeks of trading, Spirit really started to gain altitude throughout 2012, 2013 and 2014. By late 2014, Spirit shares had reached their all-time high of $85.35.Unfortunately, investors didn't realize they had a round-trip ticket.2020 And BeyondFrom early 2016 to early 2020, Spirit shares traded mostly sideways in a range around $35 and $65 before the bottom fell out during the COVID-19 outbreak. In March, Spirit traded down to a new all-time low of $7.01 before bouncing back to around $14 today.Despite the big 2020 hit, Spirit IPO investors have still managed to squeak out a small profit over the past nine years. In fact, $1,000 worth of Spirit IPO stock in 2011 would be worth about $1,172 today.Looking ahead, analysts aren't expecting much more from Spirit in 2020. The average price target among the 13 analysts covering the stock is $12, suggesting 14.8% downside from current levels.Related Links:Here's How Much Investing ,000 In Royal Caribbean Stock Back In 2010 Would Be Worth Today Here's How Much Investing 0 In Carnival Stock Back In 2010 Would Be Worth TodayPhoto by Adam Moreira/Wikimedia.See more from Benzinga * Bartstool's Dave Portnoy Breaks Down About The Importance Of Diversification(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Airline shares fell with the passenger counts, as investors began to fear bankruptcies were inevitable. Warren Buffett's outlook for the industry was so grim that he decided to sell large stakes in the four biggest airlines at a loss. If Buffett gave up on industry stalwarts like Southwest Airlines, it's no wonder investors all but gave up on smaller, second-tier carriers like Spirit Airlines (NYSE: SAVE).
Airline tickets are cheap right now. You can book roundtrip airfare in August between New York and Los Angeles for $62, according to a search on travel website Kayak (BKNG) For less than $200, you can get round-trip airfare between Miami and dozens of destinations across Latin America and the Caribbean. Airlines have slashed the price of tickets as demand plummeted in the face of the global coronavirus pandemic.
Southwest Airlines plans to return to growth in several cities later this year -- but it will shrink significantly in Fort Lauderdale: a key focus city for JetBlue Airways and Spirit Airlines.
Investors are bidding up the stock, along with shares of other airlines, as carriers continue to see a slow recovery in travel and cut costs to regain profitability. The airline has now received $2.3 billion in payroll support under the federal Cares Act program, covering 70% of its payroll costs through Sept. 30, when the program expires. Shares of Southwest were up about 3% in trading Tuesday, amid a broader rally in airline stocks.
Spirit Airlines (SAVE) saw a big move last session, as its shares jumped nearly 7% on the day, amid huge volumes.
S&P Global Ratings Managing Director & Transportation Sector Lead Kurt Forsgren joins Yahoo Finance’s Kristin Myers to break down why airports globally are going to face a long road to recovery.
What happened Airline shares took flight Monday after another weekend of positive data points suggesting travel demand is slowly returning and a positive write-up of the industry in Barron's. Spirit Airlines (NYSE: SAVE), one of the focuses of the Barron's article, gained 10% as of 11 a.
Travelers are more likely to book domestic, short-haul leisure trips, rather than business and international flights
Yahoo Finance’s Sibile Marcellus joins Akiko Fujita to break down how companies like Delta Airlines are changing the flight experience for travelers amid the coronavirus.
Shares of airlines pulled back Thursday, after a big rally over the previous two sessions, but continue to outperform the broader stock market over the past month as government data on airport travelers continues to show steady improvement. The Transportation Security Administration said the number of travelers going through TSA checkpoints was 261,170 on Wednesday, down 88.5% from a year ago. That marked the seventh-straight day that the number of travelers were down less than 90%, after a 56-day run of being down over 90% was snapped on May 21. The daily average for the first four days of the week starting Sunday was 283,558, up from 262,732 the previous week ended Saturday, and is set to increase for the seventh-straight week, since hitting a low of 95,674 travelers a day during the week ended Saturday, April 18. Meanwhile, the U.S. Global Jets ETF fell 1.6% in midday trading, after soaring 14.9% over the past two days. Among the ETF's most active U.S.-based components, shares of American Airlines Group Inc. fell 4.9%, United Airlines Holdings Inc. declined 4.2%, Delta Air Lines Inc. dropped 2.4%, Spirit Airlines Inc. shed 2.4% and Southwest Airlines Co. slipped 0.1%. The Jets ETF has now gained 9.6% since the daily average of travelers per week bottomed, while the S&P 500 has gained 6.2%.
Boeing is laying off over 6,700 of its U.S. workers, with "several thousand” more layoffs planned. Yahoo Finance’s Emily McCormick and Akiko Fujita discuss.
Airline shares were flying higher again on Wednesday, the sector's second straight day of posting double-digit gains on improving optimism that the U.S. economy is in the early stages of a recovery. Shares of Spirit Airlines (NYSE: SAVE) led the way at the open, jumping 18%, while shares of American Airlines Group (NASDAQ: AAL), United Airlines Holdings (NASDAQ: UAL), JetBlue Airways (NASDAQ: JBLU), Alaska Air Group (NYSE: ALK), Hawaiian Holdings (NASDAQ: HA), and Allegiant Travel (NASDAQ: ALGT) were all up double digits.
After losing over 80% of its value in three months, Spirit Airlines stock has surged more than 50% over the past week-and-a-half. However, investors should expect some bumps on the road to an eventual recovery.
Yahoo Finance’s Emily McCormick joins Akiko Fujita to discuss the outlook on air travel as states begin to reopen.