Sun Country Airlines (NASDAQ:SNCY) Announces Earnings Results, Beats Expectations By $0.04 EPS

Sun Country Airlines (NASDAQ:SNCY) issued its earnings results on Thursday. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04, FiscalAI reports. The company had revenue of $280.96 million for the quarter, compared to analysts’ expectations of $272.98 million. Sun Country Airlines had a net margin of 5.25% and a return on equity of 10.32%.

Sun Country Airlines Price Performance

SNCY traded up $0.06 during trading on Thursday, hitting $19.40. The company’s stock had a trading volume of 2,130,570 shares, compared to its average volume of 2,076,202. Sun Country Airlines has a twelve month low of $8.10 and a twelve month high of $19.97. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 18.48, a P/E/G ratio of 0.41 and a beta of 1.58. The business’s fifty day simple moving average is $15.67 and its 200 day simple moving average is $13.35. The company has a current ratio of 0.76, a quick ratio of 0.73 and a debt-to-equity ratio of 0.76.

Analysts Set New Price Targets

Several equities analysts have issued reports on SNCY shares. Weiss Ratings restated a “hold (c)” rating on shares of Sun Country Airlines in a research note on Monday, December 29th. Wolfe Research cut Sun Country Airlines from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, January 20th. Zacks Research cut shares of Sun Country Airlines from a “hold” rating to a “strong sell” rating in a research note on Monday, January 26th. TD Cowen downgraded Sun Country Airlines from a “buy” rating to a “hold” rating and lowered their target price for the company from $21.00 to $18.00 in a research report on Tuesday. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $19.00 price objective (down from $22.00) on shares of Sun Country Airlines in a research note on Tuesday, January 13th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Sun Country Airlines presently has a consensus rating of “Hold” and an average price target of $19.25.

Insider Buying and Selling

In related news, SVP Erin Rose Neale sold 2,257 shares of Sun Country Airlines stock in a transaction on Monday, January 12th. The shares were sold at an average price of $17.53, for a total value of $39,565.21. Following the transaction, the senior vice president directly owned 38,931 shares in the company, valued at $682,460.43. This trade represents a 5.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Stephen Andrew Coley sold 2,052 shares of Sun Country Airlines stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $15.09, for a total value of $30,964.68. Following the transaction, the senior vice president directly owned 45,040 shares of the company’s stock, valued at approximately $679,653.60. This represents a 4.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 21,378 shares of company stock valued at $343,249. 5.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sun Country Airlines

Institutional investors and hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its holdings in Sun Country Airlines by 1,728.8% in the second quarter. EverSource Wealth Advisors LLC now owns 2,158 shares of the company’s stock valued at $25,000 after acquiring an additional 2,040 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Sun Country Airlines during the second quarter valued at $59,000. Tower Research Capital LLC TRC lifted its position in Sun Country Airlines by 183.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,273 shares of the company’s stock valued at $62,000 after purchasing an additional 3,415 shares during the last quarter. Acadian Asset Management LLC bought a new position in Sun Country Airlines in the 1st quarter worth about $88,000. Finally, Mackenzie Financial Corp bought a new stake in shares of Sun Country Airlines during the third quarter valued at approximately $168,000.

About Sun Country Airlines

Sun Country Airlines (NASDAQ: SNCY) is an American ultra-low-cost carrier providing a blend of scheduled and charter passenger services. The carrier focuses on leisure markets, offering nonstop flights to sun and ski destinations across the United States, Mexico and the Caribbean. In addition to its scheduled network, Sun Country operates charter services for sports teams, corporate groups and tour operators, as well as seasonal cargo charters that support e-commerce peak periods.

Founded in 1982 and headquartered in Minneapolis, Minnesota, Sun Country has navigated multiple ownership and restructuring phases.