Analysts predict that Spirit AeroSystems Holdings, Inc. (NYSE:SPR) will announce $1.65 billion in sales for the current quarter, Zacks reports. Six analysts have provided estimates for Spirit AeroSystems’ earnings. The highest sales estimate is $1.70 billion and the lowest is $1.63 billion. Spirit AeroSystems posted sales of $1.57 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.1%. The business is scheduled to announce its next quarterly earnings report on Wednesday, February 7th.
According to Zacks, analysts expect that Spirit AeroSystems will report full-year sales of $1.65 billion for the current fiscal year, with estimates ranging from $6.89 billion to $7.02 billion. For the next fiscal year, analysts forecast that the firm will post sales of $7.13 billion per share, with estimates ranging from $6.98 billion to $7.26 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Spirit AeroSystems.
Spirit AeroSystems (NYSE:SPR) last posted its earnings results on Wednesday, November 1st. The aerospace company reported $1.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.26. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Spirit AeroSystems had a net margin of 4.98% and a return on equity of 31.14%. Spirit AeroSystems’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.16 EPS.
Several analysts have weighed in on SPR shares. Canaccord Genuity reiterated a “buy” rating and issued a $86.00 price objective on shares of Spirit AeroSystems in a research note on Tuesday, October 31st. Buckingham Research lifted their price objective on shares of Spirit AeroSystems from $53.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, September 28th. 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 note on Sunday, November 12th. Cowen reissued an “outperform” rating and issued a $88.00 target price (up from $79.00) on shares of Spirit AeroSystems in a report on Thursday, September 28th. Finally, Wells Fargo & Co reissued a “market perform” rating and issued a $85.00 target price (up from $78.00) on shares of Spirit AeroSystems in a report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $81.68.
In related news, Director Robert D. Johnson sold 500 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $84.13, for a total value of $42,065.00. Following the transaction, the director now directly owns 1,964 shares of the company’s stock, valued at approximately $165,231.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Duane F. Hawkins sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $83.04, for a total value of $415,200.00. Following the sale, the senior vice president now directly owns 39,374 shares in the company, valued at $3,269,616.96. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in SPR. UBS Asset Management Americas Inc. lifted its stake in shares of Spirit AeroSystems by 1,425.0% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 2,255,618 shares of the aerospace company’s stock worth $130,691,000 after purchasing an additional 2,107,710 shares during the last quarter. Boston Partners increased its holdings in shares of Spirit AeroSystems by 74.5% in the third quarter. Boston Partners now owns 4,230,462 shares of the aerospace company’s stock valued at $328,791,000 after purchasing an additional 1,806,228 shares during the period. Wedge Capital Management L L P NC acquired a new stake in Spirit AeroSystems during the third quarter worth about $52,067,000. Koch Industries Inc. acquired a new stake in Spirit AeroSystems in the second quarter valued at approximately $524,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Spirit AeroSystems by 79.9% in the third quarter. JPMorgan Chase & Co. now owns 745,016 shares of the aerospace company’s stock valued at $57,813,000 after acquiring an additional 330,903 shares in the last quarter. 96.12% of the stock is currently owned by institutional investors.
Shares of Spirit AeroSystems (SPR) traded up $0.13 during trading on Wednesday, reaching $87.38. 574,300 shares of the company’s stock traded hands, compared to its average volume of 577,650. Spirit AeroSystems has a twelve month low of $51.85 and a twelve month high of $87.89. The company has a quick ratio of 0.85, a current ratio of 1.56 and a debt-to-equity ratio of 0.60. The firm has a market cap of $10,040.00, a PE ratio of 30.77, a price-to-earnings-growth ratio of 1.47 and a beta of 1.16.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 8th. Investors of record on Monday, December 18th will be issued a $0.10 dividend. The ex-dividend date is Friday, December 15th. This represents a $0.40 annualized dividend and a yield of 0.46%. Spirit AeroSystems’s payout ratio is 14.08%.
About Spirit AeroSystems
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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