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Surging Earnings Estimates Signal Good News for Spirit Airlines (SAVE)

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Spirit Airlines, Inc. (SAVE - Free Report) is a provider of affordable travel to value-conscious customers that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
 
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on SAVE’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Spirit Airlines could be a solid choice for investors.
 
Current Quarter Estimates for SAVE

In the past 30 days, seven estimates have gone higher for Spirit Airlines while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 69 cents a share 30 days ago, to $1.17 per share today, a move of 69.5%.
 
Current Year Estimates for SAVE

Meanwhile, Spirit Airlines’ current year figures are also looking quite promising, with nine estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $3.66 per share 30 days ago to $4.16 per share today, an increase of 13.7%. 

Spirit Airlines, Inc. Price and Consensus

Bottom Line

The stock has also started to move higher lately, adding 22.4% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.

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