Spirit Aerosystems Holdings, Inc. (SPR) Announces Earnings Results, Meets Estimates
Spirit Aerosystems Holdings, Inc. (NYSE:SPR) announced its quarterly earnings data on Wednesday. The aerospace company reported $1.26 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.26, Bloomberg Earnings reports. Spirit Aerosystems Holdings had a return on equity of 30.82% and a net margin of 4.97%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the prior year, the company posted $1.16 earnings per share. Spirit Aerosystems Holdings’s quarterly revenue was up 2.2% on a year-over-year basis. Spirit Aerosystems Holdings updated its FY17 guidance to $5.00-5.25 EPS.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 8th. Stockholders of record on Monday, December 18th will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, December 15th. This represents a $0.40 annualized dividend and a dividend yield of 0.50%. Spirit Aerosystems Holdings’s dividend payout ratio is currently 14.60%.
A number of research analysts recently weighed in on the company. Canaccord Genuity reaffirmed a “buy” rating and set a $86.00 price objective on shares of Spirit Aerosystems Holdings in a report on Tuesday. Wells Fargo & Company reaffirmed a “market perform” rating and set a $85.00 price objective (up previously from $78.00) on shares of Spirit Aerosystems Holdings in a report on Thursday. Sanford C. Bernstein reaffirmed an “in-line” rating and set a $98.00 price objective (up previously from $87.00) on shares of Spirit Aerosystems Holdings in a report on Thursday. Zacks Investment Research raised Spirit Aerosystems Holdings from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a report on Wednesday, October 11th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $91.00 price objective (up previously from $85.00) on shares of Spirit Aerosystems Holdings in a report on Monday, October 9th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $77.70.
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In related news, Director Charles L. Chadwell sold 6,600 shares of Spirit Aerosystems Holdings stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $76.49, for a total value of $504,834.00. Following the transaction, the director now directly owns 23,828 shares in the company, valued at approximately $1,822,603.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John A. Pilla sold 10,088 shares of Spirit Aerosystems Holdings stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $74.60, for a total value of $752,564.80. Following the completion of the transaction, the senior vice president now owns 93,258 shares in the company, valued at $6,957,046.80. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by company insiders.
Spirit Aerosystems Holdings announced that its Board of Directors has initiated a stock buyback plan on Wednesday, August 2nd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the aerospace company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
Spirit Aerosystems Holdings Company Profile
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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