Brokerages forecast that Spirit AeroSystems Holdings, Inc. (NYSE:SPR) will report $1.98 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Spirit AeroSystems’ earnings, with the highest sales estimate coming in at $2.02 billion and the lowest estimate coming in at $1.93 billion. Spirit AeroSystems reported sales of $1.84 billion in the same quarter last year, which would suggest a positive year over year growth rate of 7.6%. The company is scheduled to report its next earnings results on Wednesday, August 7th.
According to Zacks, analysts expect that Spirit AeroSystems will report full-year sales of $7.98 billion for the current year, with estimates ranging from $7.81 billion to $8.29 billion. For the next year, analysts expect that the company will post sales of $8.54 billion, with estimates ranging from $8.09 billion to $8.78 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow Spirit AeroSystems.
Spirit AeroSystems (NYSE:SPR) last posted its quarterly earnings results on Wednesday, May 1st. The aerospace company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.67 by $0.01. The business had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.93 billion. Spirit AeroSystems had a return on equity of 63.36% and a net margin of 8.78%. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period last year, the firm earned $1.10 EPS.
Several equities analysts recently issued reports on SPR shares. Seaport Global Securities cut Spirit AeroSystems from a “buy” rating to a “neutral” rating and set a $98.64 price objective for the company. in a report on Tuesday, March 5th. SunTrust Banks lifted their price objective on Spirit AeroSystems to $96.00 and gave the stock an “in-line” rating in a report on Monday, February 4th. Barclays reaffirmed a “buy” rating on shares of Spirit AeroSystems in a report on Wednesday, March 13th. Vertical Research cut Spirit AeroSystems from a “buy” rating to a “hold” rating and set a $103.00 price target for the company. in a report on Wednesday, March 6th. Finally, Zacks Investment Research cut Spirit AeroSystems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 10th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Spirit AeroSystems presently has an average rating of “Buy” and a consensus price target of $101.47.
In other Spirit AeroSystems news, Director Robert D. Johnson sold 500 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $99.60, for a total transaction of $49,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.84% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the business. Harel Insurance Investments & Financial Services Ltd. grew its position in Spirit AeroSystems by 66.7% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 500 shares of the aerospace company’s stock valued at $36,000 after acquiring an additional 200 shares during the period. Doyle Wealth Management purchased a new stake in Spirit AeroSystems during the fourth quarter valued at about $40,000. Truvestments Capital LLC purchased a new stake in Spirit AeroSystems during the first quarter valued at about $42,000. Bessemer Group Inc. grew its position in Spirit AeroSystems by 96.7% during the fourth quarter. Bessemer Group Inc. now owns 836 shares of the aerospace company’s stock valued at $60,000 after acquiring an additional 411 shares during the period. Finally, Smithfield Trust Co. grew its position in Spirit AeroSystems by 538.5% during the first quarter. Smithfield Trust Co. now owns 830 shares of the aerospace company’s stock valued at $76,000 after acquiring an additional 700 shares during the period. 95.85% of the stock is owned by hedge funds and other institutional investors.
SPR stock traded up $2.23 during midday trading on Friday, hitting $84.77. 842,000 shares of the stock were exchanged, compared to its average volume of 1,042,702. The stock has a market cap of $8.55 billion, a PE ratio of 13.54, a P/E/G ratio of 1.51 and a beta of 1.38. Spirit AeroSystems has a fifty-two week low of $64.48 and a fifty-two week high of $100.34. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.39 and a current ratio of 1.95.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 8th. Stockholders of record on Monday, June 17th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Friday, June 14th. Spirit AeroSystems’s dividend payout ratio is currently 7.67%.
Spirit AeroSystems Company Profile
Spirit AeroSystems Holdings, Inc designs, manufactures, and supplies commercial aero structures in the United States and internationally. The company operates in 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 related spares, as well as maintenance, repairs, and overhaul (MRO) services.
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