Wall Street analysts expect Spirit AeroSystems Holdings, Inc. (NYSE:SPR) to announce earnings of $1.54 per share for the current quarter, Zacks reports. Six analysts have issued estimates for Spirit AeroSystems’ earnings, with estimates ranging from $1.42 to $1.67. Spirit AeroSystems posted earnings per share of $1.57 during the same quarter last year, which would indicate a negative year-over-year growth rate of 1.9%. The business is expected to report its next earnings results on Wednesday, August 1st.
On average, analysts expect that Spirit AeroSystems will report full year earnings of $6.28 per share for the current fiscal year, with EPS estimates ranging from $6.00 to $6.40. For the next financial year, analysts forecast that the firm will report earnings of $7.27 per share, with EPS estimates ranging from $6.85 to $7.80. Zacks’ EPS averages are an average based on a survey of research analysts that follow Spirit AeroSystems.
Spirit AeroSystems (NYSE:SPR) last issued its quarterly earnings data on Wednesday, May 2nd. The aerospace company reported $1.10 EPS for the quarter, missing the Zacks’ consensus estimate of $1.35 by ($0.25). The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.70 billion. Spirit AeroSystems had a return on equity of 35.11% and a net margin of 4.82%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.17 EPS.
SPR has been the topic of a number of recent research reports. Morgan Stanley boosted their price objective on Spirit AeroSystems from $109.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Vertical Research upgraded Spirit AeroSystems from a “hold” rating to a “buy” rating and set a $102.00 price objective on the stock in a research note on Monday, March 19th. Zacks Investment Research cut Spirit AeroSystems from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 20th. Barclays initiated coverage on Spirit AeroSystems in a research note on Thursday, March 29th. They set an “overweight” rating and a $117.00 price objective on the stock. Finally, Seaport Global Securities restated a “buy” rating and set a $110.00 price objective on shares of Spirit AeroSystems in a research note on Friday, April 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $98.79.
Shares of Spirit AeroSystems traded down $0.23, reaching $85.77, during midday trading on Wednesday, according to MarketBeat Ratings. 772,300 shares of the company were exchanged, compared to its average volume of 1,114,768. The stock has a market cap of $10.04 billion, a PE ratio of 16.03, a P/E/G ratio of 1.30 and a beta of 1.48. Spirit AeroSystems has a 1-year low of $55.46 and a 1-year high of $105.20. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.53 and a quick ratio of 0.98.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 9th. Stockholders of record on Monday, June 18th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.56%. This is a positive change from Spirit AeroSystems’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, June 15th. Spirit AeroSystems’s payout ratio is presently 8.97%.
In other Spirit AeroSystems news, Director Laura Wright bought 1,200 shares of the company’s stock in a transaction dated Tuesday, May 15th. The shares were acquired at an average cost of $84.46 per share, with a total value of $101,352.00. Following the completion of the transaction, the director now owns 3,187 shares in the company, valued at $269,174.02. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert D. Johnson sold 500 shares of Spirit AeroSystems stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $85.00, for a total value of $42,500.00. Following the sale, the director now directly owns 3,457 shares in the company, valued at $293,845. The disclosure for this sale can be found here. 0.87% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in SPR. Teacher Retirement System of Texas increased its holdings in Spirit AeroSystems by 225.6% in the fourth quarter. Teacher Retirement System of Texas now owns 32,390 shares of the aerospace company’s stock valued at $2,826,000 after buying an additional 22,443 shares during the last quarter. Daiwa Securities Group Inc. bought a new stake in Spirit AeroSystems in the fourth quarter valued at about $332,000. LS Investment Advisors LLC bought a new stake in Spirit AeroSystems in the fourth quarter valued at about $208,000. Candriam Luxembourg S.C.A. bought a new stake in Spirit AeroSystems in the fourth quarter valued at about $234,000. Finally, Sei Investments Co. increased its holdings in Spirit AeroSystems by 74.2% in the fourth quarter. Sei Investments Co. now owns 101,177 shares of the aerospace company’s stock valued at $8,827,000 after buying an additional 43,092 shares during the last quarter. 95.26% of the stock is owned by hedge funds and other institutional investors.
About Spirit AeroSystems
Spirit AeroSystems Holdings, Inc, through its subsidiaries, designs, manufactures, and supplies commercial aero structures worldwide. It operates through three segments: Fuselage Systems, Propulsion Systems, and Wing Systems. The Fuselage Systems segment develops, produces, and markets forward, mid, and rear fuselage sections and systems primarily to aircraft original equipment manufacturers (OEMs); and offers related spares and maintenance, repairs, and overhaul (MRO) services.
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