Spirit Aerosystems Holdings, Inc. (NYSE:SPR) Expected to Announce Quarterly Sales of $1.74 Billion
Wall Street brokerages forecast that Spirit Aerosystems Holdings, Inc. (NYSE:SPR) will post $1.74 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Spirit Aerosystems Holdings’ earnings, with estimates ranging from $1.69 billion to $1.76 billion. Spirit Aerosystems Holdings posted sales of $1.71 billion in the same quarter last year, which would indicate a positive year over year growth rate of 1.8%. The company is scheduled to report its next earnings results on Tuesday, November 7th.
According to Zacks, 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 year, analysts expect that the firm will report sales of $7.08 billion per share, with estimates ranging from $6.83 billion to $7.27 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Spirit Aerosystems Holdings.
Spirit Aerosystems Holdings (NYSE:SPR) last issued its quarterly earnings data on Wednesday, August 2nd. The aerospace company reported $1.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.37. The firm had revenue of $1.83 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down .2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.21 earnings per share.
A number of research firms have weighed in on SPR. Morgan Stanley increased 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 report on Monday. BidaskClub raised shares of Spirit Aerosystems Holdings from a “hold” rating to a “buy” rating in a research report on Saturday. Canaccord Genuity increased their target price 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 reissued an “outperform” rating and set a $80.00 target price (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 increased their target price 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 issued a hold rating and ten have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $68.13.
Spirit Aerosystems Holdings (SPR) opened at 71.30 on Tuesday. The firm has a market cap of $8.44 billion, a PE ratio of 25.56 and a beta of 1.36. The company’s 50-day moving average is $58.97 and its 200-day moving average is $57.64. Spirit Aerosystems Holdings has a one year low of $42.26 and a one year high of $72.26.
Spirit Aerosystems Holdings announced that its board has initiated a stock repurchase plan on Wednesday, August 2nd that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the aerospace company to reacquire up to 4.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Monday, September 18th will be given 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 payout ratio is currently 14.60%.
In related news, Director Richard A. Gephardt sold 4,247 shares of Spirit Aerosystems Holdings stock in a transaction 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 owns 1,964 shares of the company’s stock, valued at approximately $113,912. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.28% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Prudential Financial Inc. increased its stake in Spirit Aerosystems Holdings by 2.4% in the second quarter. Prudential Financial Inc. now owns 1,301,220 shares of the aerospace company’s stock valued at $75,393,000 after buying an additional 30,000 shares during the last quarter. Ifrah Financial Services Inc. acquired a new stake in Spirit Aerosystems Holdings during the second quarter valued at about $367,000. Victory Capital Management Inc. increased its stake in Spirit Aerosystems Holdings by 21.7% in the second quarter. Victory Capital Management Inc. now owns 23,598 shares of the aerospace company’s stock valued at $1,367,000 after buying an additional 4,206 shares during the last quarter. Virginia Retirement Systems ET AL increased its stake in Spirit Aerosystems Holdings by 1.2% in the second quarter. Virginia Retirement Systems ET AL now owns 167,000 shares of the aerospace company’s stock valued at $9,676,000 after buying an additional 1,900 shares during the last quarter. Finally, Marshall Wace North America L.P. acquired a new stake in Spirit Aerosystems Holdings during the second quarter valued at about $3,786,000. 98.51% of the stock is owned by institutional investors and hedge funds.
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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