Spirit AeroSystems Holdings, Inc. (NYSE:SPR) – Seaport Global Securities increased their Q1 2018 earnings estimates for shares of Spirit AeroSystems in a report released on Thursday, according to Zacks Investment Research. Seaport Global Securities analyst J. Sullivan now anticipates that the aerospace company will post earnings of $1.52 per share for the quarter, up from their previous estimate of $1.31. Seaport Global Securities has a “Buy” rating and a $120.00 price objective on the stock. Seaport Global Securities also issued estimates for Spirit AeroSystems’ Q1 2019 earnings at $1.79 EPS, Q2 2019 earnings at $1.86 EPS, Q3 2019 earnings at $2.02 EPS, Q4 2019 earnings at $2.09 EPS and FY2019 earnings at $7.74 EPS.
A number of other brokerages have also commented on SPR. ValuEngine raised shares of Spirit AeroSystems from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Canaccord Genuity reissued a “buy” rating and issued a $86.00 price objective on shares of Spirit AeroSystems in a research report on Tuesday, October 31st. Royal Bank of Canada set a $77.00 price objective on shares of Spirit AeroSystems and gave the stock a “sell” rating in a research report on Sunday, November 12th. Cowen reissued a “buy” rating and issued a $110.00 price objective on shares of Spirit AeroSystems in a research report on Monday, February 5th. Finally, Zacks Investment Research raised shares of Spirit AeroSystems from a “hold” rating to a “buy” rating and set a $103.00 price objective on the stock in a research report on Wednesday, January 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $95.50.
Shares of Spirit AeroSystems (SPR) traded up $2.65 on Friday, reaching $89.49. 1,527,822 shares of the company’s stock were exchanged, compared to its average volume of 1,193,428. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.85 and a current ratio of 1.56. The company has a market capitalization of $9,938.58, a price-to-earnings ratio of 28.76, a P/E/G ratio of 1.25 and a beta of 1.37. Spirit AeroSystems has a 1 year low of $51.85 and a 1 year high of $105.20.
Spirit AeroSystems (NYSE:SPR) last announced its quarterly earnings results on Friday, February 2nd. The aerospace company reported $1.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.10. Spirit AeroSystems had a net margin of 5.08% and a return on equity of 33.80%. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the previous year, the firm posted $0.89 earnings per share. The business’s revenue was up 9.2% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently bought and sold shares of SPR. Alliancebernstein L.P. raised its position in Spirit AeroSystems by 128.7% during the second quarter. Alliancebernstein L.P. now owns 289,464 shares of the aerospace company’s stock worth $16,772,000 after acquiring an additional 162,894 shares in the last quarter. Raymond James Trust N.A. acquired a new position in shares of Spirit AeroSystems in the second quarter valued at $200,000. Ameriprise Financial Inc. increased its holdings in shares of Spirit AeroSystems by 18.7% in the second quarter. Ameriprise Financial Inc. now owns 561,199 shares of the aerospace company’s stock valued at $32,516,000 after purchasing an additional 88,542 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Spirit AeroSystems by 2.4% in the second quarter. BlackRock Inc. now owns 6,280,205 shares of the aerospace company’s stock valued at $363,874,000 after purchasing an additional 148,240 shares during the last quarter. Finally, Amalgamated Bank increased its holdings in shares of Spirit AeroSystems by 24.4% in the second quarter. Amalgamated Bank now owns 21,943 shares of the aerospace company’s stock valued at $1,271,000 after purchasing an additional 4,304 shares during the last quarter. 97.39% of the stock is currently owned by hedge funds and other institutional investors.
In other Spirit AeroSystems news, Director Robert D. Johnson sold 500 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $84.13, for a total transaction of $42,065.00. Following the sale, the director now directly owns 1,964 shares of the company’s stock, valued at $165,231.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.28% of the company’s stock.
Spirit AeroSystems declared that its board has approved a stock buyback plan on Friday, February 2nd that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 9th. Shareholders of record on Monday, March 19th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.45%. The ex-dividend date is Friday, March 16th. Spirit AeroSystems’s dividend payout ratio (DPR) is currently 13.25%.
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Spirit AeroSystems Company Profile
Spirit AeroSystems Holdings, Inc is a non-original equipment manufacturer (OEM), aircraft parts designer and manufacturer of commercial aero-structures. The Company is also a supplier of aero-structures. The Company operates through three segments: Fuselage Systems, Propulsion Systems and Wing Systems.
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