Brokerages expect Spirit AeroSystems Holdings, Inc. (NYSE:SPR) to post $1.70 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Spirit AeroSystems’ earnings. The highest sales estimate is $1.73 billion and the lowest is $1.66 billion. Spirit AeroSystems reported sales of $1.69 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 0.6%. The business is scheduled to issue its next quarterly earnings report on Wednesday, May 2nd.
According to Zacks, analysts expect that Spirit AeroSystems will report full-year sales of $1.70 billion for the current financial year, with estimates ranging from $7.14 billion to $7.24 billion. For the next fiscal year, analysts expect that the business will post sales of $7.57 billion per share, with estimates ranging from $7.47 billion to $7.75 billion. Zacks’ sales calculations are an average based on a survey of research analysts that cover Spirit AeroSystems.
Spirit AeroSystems (NYSE:SPR) last posted its earnings results on Friday, February 2nd. The aerospace company reported $1.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.10. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.66 billion. Spirit AeroSystems had a return on equity of 34.03% and a net margin of 5.08%. Spirit AeroSystems’s revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.89 earnings per share.
Several analysts have weighed in on the company. Zacks Investment Research raised Spirit AeroSystems from a “hold” rating to a “buy” rating and set a $103.00 target price on the stock in a report on Wednesday, January 10th. Canaccord Genuity reissued a “buy” rating and issued a $115.00 target price on shares of Spirit AeroSystems in a report on Monday, January 29th. Robert W. Baird reissued a “buy” rating and issued a $129.00 target price on shares of Spirit AeroSystems in a report on Monday, January 29th. ValuEngine raised Spirit AeroSystems from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Jefferies Group reissued a “buy” rating and issued a $112.00 target price on shares of Spirit AeroSystems in a report on Monday, February 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Spirit AeroSystems presently has a consensus rating of “Buy” and an average target price of $97.11.
In other news, SVP Stacy Cozad sold 1,100 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $91.47, for a total value of $100,617.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP William Edward Brown sold 5,500 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $92.36, for a total value of $507,980.00. Following the completion of the sale, the senior vice president now owns 21,664 shares in the company, valued at $2,000,887.04. The disclosure for this sale can be found here. 0.28% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio purchased a new position in Spirit AeroSystems during the fourth quarter worth about $130,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Spirit AeroSystems during the fourth quarter worth about $166,000. Guggenheim Capital LLC purchased a new position in Spirit AeroSystems during the fourth quarter worth about $207,000. LS Investment Advisors LLC purchased a new position in Spirit AeroSystems during the fourth quarter worth about $208,000. Finally, American International Group Inc. purchased a new position in Spirit AeroSystems during the fourth quarter worth about $211,000. Hedge funds and other institutional investors own 97.48% of the company’s stock.
Spirit AeroSystems (NYSE SPR) traded down $0.83 during trading on Friday, reaching $85.47. The company’s stock had a trading volume of 1,636,975 shares, compared to its average volume of 1,145,648. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.64 and a quick ratio of 0.74. The firm has a market capitalization of $9,878.11, a price-to-earnings ratio of 28.15, a price-to-earnings-growth ratio of 1.24 and a beta of 1.45. Spirit AeroSystems has a 12 month low of $51.85 and a 12 month high of $105.20.
Spirit AeroSystems announced that its Board of Directors has initiated 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 repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 9th. Stockholders of record on Monday, March 19th will be given a $0.10 dividend. The ex-dividend date is Friday, March 16th. This represents a $0.40 annualized dividend and a dividend yield of 0.47%. Spirit AeroSystems’s dividend payout ratio 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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