Spirit AeroSystems (NYSE:SPR) Issues Earnings Results

Spirit AeroSystems (NYSE:SPR) announced its quarterly earnings results on Monday. The aerospace company reported ($2.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.98) by ($1.75), Briefing.com reports. The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same period in the previous year, the business earned ($1.46) EPS. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year.

Spirit AeroSystems Stock Down 2.2 %

Shares of NYSE:SPR opened at $33.55 on Tuesday. The stock has a market cap of $3.91 billion, a P/E ratio of -3.86 and a beta of 1.84. The business’s 50 day moving average is $33.02 and its 200 day moving average is $32.05. Spirit AeroSystems has a 52-week low of $14.65 and a 52-week high of $37.08.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SPR. Wolfe Research reiterated a “peer perform” rating on shares of Spirit AeroSystems in a research note on Wednesday, July 10th. Baird R W lowered Spirit AeroSystems from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 12th. Susquehanna reissued a “neutral” rating and issued a $37.00 price target (down previously from $40.00) on shares of Spirit AeroSystems in a research note on Wednesday, July 17th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $37.00 price objective (up previously from $36.00) on shares of Spirit AeroSystems in a research note on Monday, July 8th. Finally, StockNews.com initiated coverage on Spirit AeroSystems in a research note on Sunday. They issued a “sell” rating on the stock. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $33.60.

About Spirit AeroSystems

Spirit AeroSystems Holdings, Inc engages in the design, engineering, manufacture, and marketing of commercial aerostructures worldwide. It operates through three segments: Commercial, Defense & Space, and Aftermarket. The Commercial segment offers forward, mid, and rear fuselage sections and systems, floor beams, nacelles, struts/pylons, horizontal and vertical stabilizers, flaps and slats flight control surfaces, wing structures, and wing systems.