Spirit Aerosystems Holdings, Inc. (SPR) to Post Q3 2017 Earnings of $1.23 Per Share, SunTrust Banks Forecasts
Spirit Aerosystems Holdings, Inc. (NYSE:SPR) – SunTrust Banks upped their Q3 2017 earnings estimates for Spirit Aerosystems Holdings in a note issued to investors on Wednesday. SunTrust Banks analyst M. Ciarmoli now anticipates that the aerospace company will post earnings of $1.23 per share for the quarter, up from their prior forecast of $1.22. SunTrust Banks also issued estimates for Spirit Aerosystems Holdings’ Q4 2017 earnings at $1.19 EPS and FY2019 earnings at $4.86 EPS.
A number of other research analysts also recently commented on the stock. BidaskClub raised shares of Spirit Aerosystems Holdings from a “hold” rating to a “buy” rating in a research report on Saturday. Canaccord Genuity lifted their price objective on shares of Spirit Aerosystems Holdings from $65.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday. Credit Suisse Group reissued an “outperform” rating and issued a $80.00 price objective (up previously from $74.00) on shares of Spirit Aerosystems Holdings in a research report on Thursday. Seaport Global Securities raised shares of Spirit Aerosystems Holdings from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $62.00 to $83.00 in a research report on Thursday. Finally, Cowen and Company reissued a “buy” rating and issued a $69.00 price objective on shares of Spirit Aerosystems Holdings in a research report on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $67.13.
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Spirit Aerosystems Holdings (NYSE SPR) opened at 71.38 on Monday. The firm’s 50-day moving average is $58.97 and its 200-day moving average is $57.64. The firm has a market cap of $8.45 billion, a price-to-earnings ratio of 25.59 and a beta of 1.36. Spirit Aerosystems Holdings has a 52-week low of $42.26 and a 52-week high of $72.43.
Spirit Aerosystems Holdings (NYSE:SPR) last released its earnings results on Wednesday, August 2nd. The aerospace company reported $1.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.37. The firm had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.74 billion. Spirit Aerosystems Holdings had a net margin of 4.97% and a return on equity of 30.43%. The business’s revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.21 EPS.
Several institutional investors have recently modified their holdings of SPR. Breton Hill Capital Ltd. boosted its position in shares of Spirit Aerosystems Holdings by 12.4% in the first quarter. Breton Hill Capital Ltd. now owns 17,517 shares of the aerospace company’s stock valued at $1,015,000 after buying an additional 1,932 shares during the last quarter. Denali Advisors LLC purchased a new position in shares of Spirit Aerosystems Holdings during the first quarter valued at approximately $1,929,000. M&T Bank Corp boosted its position in shares of Spirit Aerosystems Holdings by 4.8% in the first quarter. M&T Bank Corp now owns 4,530 shares of the aerospace company’s stock valued at $261,000 after buying an additional 207 shares during the last quarter. Lockheed Martin Investment Management Co. boosted its position in shares of Spirit Aerosystems Holdings by 66.7% in the first quarter. Lockheed Martin Investment Management Co. now owns 20,000 shares of the aerospace company’s stock valued at $1,158,000 after buying an additional 8,000 shares during the last quarter. Finally, KBC Group NV boosted its position in shares of Spirit Aerosystems Holdings by 10.7% in the first quarter. KBC Group NV now owns 302,915 shares of the aerospace company’s stock valued at $17,545,000 after buying an additional 29,164 shares during the last quarter. Institutional investors own 98.20% of the company’s stock.
In other news, Director Richard A. Gephardt sold 4,247 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $58.00, for a total value of $246,326.00. Following the completion of the transaction, the director now directly owns 1,964 shares in the company, valued at approximately $113,912. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.28% of the stock is owned by insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Monday, September 18th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Friday, September 15th. Spirit Aerosystems Holdings’s dividend payout ratio (DPR) is 14.60%.
Spirit Aerosystems Holdings announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 2nd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the aerospace company to repurchase up to 4.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.
About Spirit Aerosystems Holdings
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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