Spirit AeroSystems (NYSE:SPR) Issues Earnings Results, Misses Expectations By $2.87 EPS

Spirit AeroSystems (NYSE:SPR) announced its quarterly earnings results on Wednesday. The aerospace company reported ($3.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($2.87), Zacks reports. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.83 billion.

Spirit AeroSystems Trading Down 0.7 %

Spirit AeroSystems stock opened at $31.44 on Friday. The company’s 50-day moving average price is $33.17 and its two-hundred day moving average price is $32.92. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of -3.62 and a beta of 1.85. Spirit AeroSystems has a 52 week low of $20.98 and a 52 week high of $37.08.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SPR shares. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Spirit AeroSystems in a research report on Monday, July 8th. Truist Financial boosted their price objective on shares of Spirit AeroSystems from $30.00 to $35.00 and gave the stock a “hold” rating in a report on Wednesday, July 17th. StockNews.com began coverage on Spirit AeroSystems in a research note on Wednesday. They set a “sell” rating for the company. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $37.00 price target (up previously from $36.00) on shares of Spirit AeroSystems in a research note on Monday, July 8th. Finally, Baird R W lowered Spirit AeroSystems from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 12th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, Spirit AeroSystems has a consensus rating of “Hold” and an average price target of $35.54.

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.