Spirit Aerosystems Holdings, Inc. (SPR) Expected to Post Quarterly Sales of $1.74 Billion
Equities analysts predict that Spirit Aerosystems Holdings, Inc. (NYSE:SPR) will report $1.74 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Spirit Aerosystems Holdings’ earnings. The highest sales estimate is $1.76 billion and the lowest is $1.69 billion. Spirit Aerosystems Holdings reported sales of $1.71 billion during the same quarter last year, which would suggest a positive year over year growth rate of 1.8%. The business is expected to announce its next quarterly earnings results on Tuesday, November 7th.
On average, analysts expect that Spirit Aerosystems Holdings will report full year sales of $1.74 billion for the current year, with estimates ranging from $6.82 billion to $6.92 billion. For the next fiscal year, analysts forecast that the business will report sales of $7.08 billion per share, with estimates ranging from $6.83 billion to $7.27 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Spirit Aerosystems Holdings.
Spirit Aerosystems Holdings (NYSE:SPR) last posted its quarterly earnings data on Wednesday, August 2nd. The aerospace company reported $1.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.37. Spirit Aerosystems Holdings had a return on equity of 30.43% and a net margin of 4.97%. The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same period in the previous year, the business earned $1.21 EPS. Spirit Aerosystems Holdings’s quarterly revenue was down .2% on a year-over-year basis.
A number of equities research analysts have recently issued reports on SPR shares. UBS AG upgraded shares of Spirit Aerosystems Holdings from a “neutral” rating to a “buy” rating and set a $63.00 price target for the company in a research report on Tuesday, May 9th. Credit Suisse Group reiterated a “buy” rating and set a $74.00 price target on shares of Spirit Aerosystems Holdings in a research report on Friday, May 5th. BidaskClub downgraded shares of Spirit Aerosystems Holdings from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th. Jefferies Group LLC set a $68.00 price target on shares of Spirit Aerosystems Holdings and gave the company a “buy” rating in a research report on Thursday, June 22nd. Finally, Seaport Global Securities upgraded shares of Spirit Aerosystems Holdings from a “neutral” rating to a “buy” rating and lifted their price target for the company from $62.00 to $83.00 in a research report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $68.13.
Shares of Spirit Aerosystems Holdings (NYSE:SPR) opened at 71.30 on Tuesday. The stock has a market capitalization of $8.44 billion, a price-to-earnings ratio of 25.56 and a beta of 1.36. Spirit Aerosystems Holdings has a 1-year low of $42.26 and a 1-year high of $72.26. The firm’s 50-day moving average price is $58.97 and its 200 day moving average price is $57.64.
The company also recently announced 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. The ex-dividend date is Friday, September 15th. This represents a $0.40 annualized dividend and a yield of 0.56%. Spirit Aerosystems Holdings’s payout ratio is currently 14.60%.
Spirit Aerosystems Holdings announced that its board has approved a stock buyback program on Wednesday, August 2nd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the aerospace company to repurchase up to 4.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
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In other Spirit Aerosystems Holdings news, Director Richard A. Gephardt sold 4,247 shares of Spirit Aerosystems Holdings 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 sale, the director now directly owns 1,964 shares of the company’s stock, valued at approximately $113,912. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.28% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in SPR. Nomura Asset Management Co. Ltd. boosted its stake in Spirit Aerosystems Holdings by 9.5% in the first quarter. Nomura Asset Management Co. Ltd. now owns 1,840 shares of the aerospace company’s stock valued at $106,000 after buying an additional 160 shares during the last quarter. Focused Wealth Management Inc boosted its stake in shares of Spirit Aerosystems Holdings by 68.8% in the first quarter. Focused Wealth Management Inc now owns 2,700 shares of the aerospace company’s stock valued at $156,000 after buying an additional 1,100 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Spirit Aerosystems Holdings by 4.7% in the first quarter. State of Alaska Department of Revenue now owns 3,317 shares of the aerospace company’s stock valued at $192,000 after buying an additional 149 shares in the last quarter. Parametrica Management Ltd bought a new stake in shares of Spirit Aerosystems Holdings during the second quarter valued at about $217,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Spirit Aerosystems Holdings by 20.1% in the first quarter. PNC Financial Services Group Inc. now owns 4,248 shares of the aerospace company’s stock valued at $247,000 after buying an additional 710 shares in the last quarter. 98.51% of the stock is owned by hedge funds and other institutional investors.
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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