Spirit AeroSystems Holdings, Inc. (NYSE:SPR) – Investment analysts at Jefferies Group upped their FY2018 earnings per share (EPS) estimates for Spirit AeroSystems in a report issued on Sunday. Jefferies Group analyst S. Kahyaoglu now anticipates that the aerospace company will earn $6.40 per share for the year, up from their prior forecast of $5.55. Jefferies Group has a “Buy” rating and a $112.00 price target on the stock. Jefferies Group also issued estimates for Spirit AeroSystems’ Q4 2018 earnings at $1.96 EPS, FY2019 earnings at $7.10 EPS and FY2020 earnings at $7.60 EPS.
A number of other equities research analysts have also issued reports on SPR. Canaccord Genuity reaffirmed a “buy” rating and issued a $115.00 price target on shares of Spirit AeroSystems in a research report on Monday, January 29th. ValuEngine raised Spirit AeroSystems from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Robert W. Baird reaffirmed a “buy” rating and issued a $129.00 price target on shares of Spirit AeroSystems in a research report on Monday, January 29th. Wells Fargo & Co reaffirmed a “market perform” rating and issued a $85.00 price target (up previously from $78.00) on shares of Spirit AeroSystems in a research report on Thursday, November 2nd. Finally, Royal Bank of Canada set a $100.00 price target on Spirit AeroSystems and gave the company a “sell” rating in a research report on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $95.50.
Spirit AeroSystems (NYSE:SPR) last posted its quarterly earnings results on Friday, February 2nd. The aerospace company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.10. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.66 billion. Spirit AeroSystems had a return on equity of 33.80% and a net margin of 5.08%. Spirit AeroSystems’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.89 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 9th. Stockholders of record on Monday, March 19th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Friday, March 16th. Spirit AeroSystems’s dividend payout ratio (DPR) is presently 13.25%.
Spirit AeroSystems declared that its board has approved a stock repurchase program on Friday, February 2nd that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the aerospace company to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
In other news, Director Robert D. Johnson sold 500 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $84.13, for a total transaction of $42,065.00. Following the sale, the director now owns 1,964 shares of the company’s stock, valued at approximately $165,231.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.28% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of SPR. Boston Partners increased its position in Spirit AeroSystems by 74.5% during the third quarter. Boston Partners now owns 4,230,462 shares of the aerospace company’s stock worth $328,791,000 after buying an additional 1,806,228 shares during the period. LSV Asset Management increased its position in Spirit AeroSystems by 19.5% during the fourth quarter. LSV Asset Management now owns 5,080,842 shares of the aerospace company’s stock worth $443,303,000 after buying an additional 827,943 shares during the period. Wedge Capital Management L L P NC acquired a new position in Spirit AeroSystems during the third quarter worth approximately $52,067,000. Koch Industries Inc. acquired a new position in Spirit AeroSystems during the second quarter worth approximately $524,000. Finally, JPMorgan Chase & Co. increased its position in Spirit AeroSystems by 79.9% during the third quarter. JPMorgan Chase & Co. now owns 745,016 shares of the aerospace company’s stock worth $57,813,000 after buying an additional 330,903 shares during the period. 96.54% of the stock is currently owned by institutional investors and hedge funds.
About Spirit AeroSystems
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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