Equities Analysts Offer Predictions for Spirit Aerosystems Holdings, Inc.’s FY2017 Earnings (SPR)
Spirit Aerosystems Holdings, Inc. (NYSE:SPR) – Equities researchers at Jefferies Group boosted their FY2017 earnings estimates for shares of Spirit Aerosystems Holdings in a research report issued on Thursday. Jefferies Group analyst H. Rubel now forecasts that the aerospace company will earn $5.30 per share for the year, up from their prior estimate of $4.90. Jefferies Group currently has a “Buy” rating and a $68.00 target price on the stock. Jefferies Group also issued estimates for Spirit Aerosystems Holdings’ Q4 2017 earnings at $1.28 EPS, FY2018 earnings at $5.55 EPS, FY2019 earnings at $5.90 EPS and FY2020 earnings at $6.30 EPS.
Several other equities analysts have also recently issued reports on the stock. Morgan Stanley upped their target price on shares of Spirit Aerosystems Holdings from $66.00 to $81.00 and gave the company an “overweight” rating in a research note on Monday. BidaskClub upgraded shares of Spirit Aerosystems Holdings from a “hold” rating to a “buy” rating in a research note on Saturday. Canaccord Genuity upped their price target 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, August 3rd. Credit Suisse Group reaffirmed an “outperform” rating and set a $80.00 price target (up previously from $74.00) on shares of Spirit Aerosystems Holdings in a research report on Thursday, August 3rd. Finally, Seaport Global Securities raised shares of Spirit Aerosystems Holdings from a “neutral” rating to a “buy” rating and upped their price target for the company from $62.00 to $83.00 in a research report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $68.13.
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Spirit Aerosystems Holdings (NYSE:SPR) opened at 71.30 on Monday. The stock has a market cap of $8.44 billion, a P/E ratio of 25.56 and a beta of 1.36. The stock has a 50 day moving average of $58.97 and a 200 day moving average of $57.64. Spirit Aerosystems Holdings has a 1-year low of $42.26 and a 1-year high of $72.26.
Spirit Aerosystems Holdings (NYSE:SPR) last posted its quarterly earnings data on Wednesday, August 2nd. The aerospace company reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.37. Spirit Aerosystems Holdings had a net margin of 4.97% and a return on equity of 30.43%. The business had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter last year, the company posted $1.21 earnings per share. The firm’s quarterly revenue was down .2% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Monday, September 18th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.56%. The ex-dividend date is Friday, September 15th. Spirit Aerosystems Holdings’s dividend payout ratio is 14.60%.
Spirit Aerosystems Holdings announced that its board has initiated 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 purchase up to 4.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.
In related news, Director Richard A. Gephardt sold 4,247 shares of the 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.28% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in SPR. Vanguard Group Inc. raised its stake in Spirit Aerosystems Holdings by 5.6% in the first quarter. Vanguard Group Inc. now owns 11,549,361 shares of the aerospace company’s stock valued at $668,939,000 after buying an additional 616,129 shares in the last quarter. BlackRock Inc. raised its stake in Spirit Aerosystems Holdings by 11,339.0% in the first quarter. BlackRock Inc. now owns 6,131,965 shares of the aerospace company’s stock valued at $355,164,000 after buying an additional 6,078,359 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Spirit Aerosystems Holdings by 6.5% in the first quarter. Goldman Sachs Group Inc. now owns 5,008,637 shares of the aerospace company’s stock valued at $290,100,000 after buying an additional 305,946 shares in the last quarter. AQR Capital Management LLC raised its stake in Spirit Aerosystems Holdings by 12.7% in the first quarter. AQR Capital Management LLC now owns 3,883,585 shares of the aerospace company’s stock valued at $224,937,000 after buying an additional 436,784 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in Spirit Aerosystems Holdings by 11.1% in the first quarter. Wells Fargo & Company MN now owns 3,695,032 shares of the aerospace company’s stock valued at $214,016,000 after buying an additional 369,308 shares in the last quarter. 98.51% of the stock is owned by 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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