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Sun Country Airlines Holdings Inc. (SNCY) stock has experienced significant turbulence, touching a 52-week low of $9.21. The dip reflects a challenging period for the airline, which has seen its shares plummet by 36.52% over the past year. With a market capitalization of $488.5 million and a P/E ratio of 9.87, InvestingPro analysis suggests the stock is currently trading below its Fair Value. Investors are closely monitoring the company’s performance as it navigates through a dynamic and competitive industry landscape, with hopes for a smoother flight path ahead. With annual revenue of $1.08 billion and analyst price targets ranging from $11 to $23, the stock shows potential for recovery. InvestingPro subscribers can access 11 additional exclusive tips and comprehensive analysis in the Pro Research Report for SNCY.
In other recent news, Sun Country Airlines Holdings Inc. reported a record revenue for the fourth quarter of 2024, achieving $260.4 million, which marks a 6.1% increase year-over-year. The airline surpassed earnings per share expectations with an EPS of $0.20, against a forecast of $0.1888. For the full year, Sun Country Airlines reached its highest annual revenue on record at $1.08 billion and reported a 10th consecutive quarter of profitability. Additionally, the company completed a secondary public offering and share repurchase, with Sun Country repurchasing 630,914 shares from underwriters, using cash on hand for this transaction.
The airline also announced executive changes, with the resignation of Dave Davis, President and CFO, and the appointment of Bill Trousdale as interim CFO. In another strategic move, Gregory Mays, the Chief Operating Officer, stepped down, and Stephen Coley was appointed as interim Head of Operations. Sun Country Airlines has entered into a seven-year agreement with Synchrony Bank to launch a co-branded credit card program, expected to commence in the fourth quarter of 2025. This partnership aims to enhance Sun Country’s customer offerings and financial instruments.
Furthermore, Sun Country Airlines updated its financial outlook, indicating a focus on growth in the cargo segment, particularly through its agreement with Amazon (NASDAQ:AMZN), with plans to expand its cargo fleet. The company’s board approved the terms of the share repurchase, and the offering marked the sale of the remaining shares held by the Selling Stockholder, terminating Apollo’s governance rights under previous agreements. These developments reflect Sun Country Airlines’ ongoing efforts to navigate industry challenges and strengthen its financial position.
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