Here's Why Shares of Spirit Airlines Plummeted 25% in July
According to S&P Global Market Intelligence, shares of Spirit Airlines (NASDAQ: SAVE) dropped about 25% last month. The was the result, in part, of what investors interpreted as a lackluster second-quarter earnings report, and it extended the rocky ride that investors have suffered through the first half of the year -- a period during which shares have fallen nearly 10%.
Beating analysts' earnings estimates of $1.11 per share, Spirit Airlines reported diluted EPS of $1.14, excluding special items. In terms of revenue, though, the company -- reporting $701.7 million on its top line -- narrowly missed analysts' estimates of $702.1 million. But this was hardly the only cause for why the stock fell in July.
Image source: Getty Images.
Source: Fool.com
Spirit Airlines, Inc. Stock
The community sentiment towards Spirit Airlines, Inc. is currently rather negative with 17 Sell predictions and no Buy predictions.
With a target price of 3 € there is a slightly negative potential of -13.08% for Spirit Airlines, Inc. compared to the current price of 3.45 €.
