SunTrust Banks Brokers Lift Earnings Estimates for Spirit Aerosystems Holdings, Inc. (NYSE:SPR)
Spirit Aerosystems Holdings, Inc. (NYSE:SPR) – Equities research analysts at SunTrust Banks increased their Q3 2017 earnings per share estimates for shares of Spirit Aerosystems Holdings in a note issued to investors on Wednesday. SunTrust Banks analyst M. Ciarmoli now expects that the aerospace company will earn $1.23 per share for the quarter, up from their prior estimate of $1.22. SunTrust Banks also issued estimates for Spirit Aerosystems Holdings’ Q4 2017 earnings at $1.19 EPS and FY2019 earnings at $4.86 EPS.
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, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.37. The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.74 billion. Spirit Aerosystems Holdings had a return on equity of 30.43% and a net margin of 4.97%. The firm’s revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.21 EPS. TRADEMARK VIOLATION NOTICE: This article was first posted by Daily Political and is the property of of Daily Political. If you are reading this article on another publication, it was copied illegally and reposted in violation of US and international copyright laws. The original version of this article can be read at https://www.dailypolitical.com/2017/08/08/suntrust-banks-brokers-lift-earnings-estimates-for-spirit-aerosystems-holdings-inc-nysespr.html.
Other equities analysts also recently issued reports about the company. UBS AG upgraded Spirit Aerosystems Holdings from a “neutral” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Tuesday, May 9th. Credit Suisse Group restated a “buy” rating and issued a $74.00 target price on shares of Spirit Aerosystems Holdings in a research note on Friday, May 5th. BidaskClub downgraded Spirit Aerosystems Holdings from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Jefferies Group LLC set a $68.00 target price on Spirit Aerosystems Holdings and gave the company a “buy” rating in a research note on Thursday, June 22nd. Finally, Seaport Global Securities upgraded Spirit Aerosystems Holdings from a “neutral” rating to a “buy” rating and lifted their target price for the company from $62.00 to $83.00 in a research note on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $68.13.
Shares of Spirit Aerosystems Holdings (NYSE:SPR) opened at 71.30 on Monday. The firm’s 50-day moving average price is $58.97 and its 200 day moving average price is $57.64. Spirit Aerosystems Holdings has a 1-year low of $42.26 and a 1-year high of $72.26. The stock has a market capitalization of $8.44 billion, a P/E ratio of 25.56 and a beta of 1.36.
Spirit Aerosystems Holdings announced that its Board of Directors has approved a stock buyback program on Wednesday, August 2nd that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the aerospace company to buy up to 4.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.
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 dividend of $0.10 per share. 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 14.60%.
In related news, Director Richard A. Gephardt sold 4,247 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $58.00, for a total transaction of $246,326.00. Following the sale, the director now owns 1,964 shares of the company’s stock, valued at $113,912. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.28% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in SPR. Nomura Asset Management Co. Ltd. boosted its stake in shares of 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 during 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 during the last quarter. Parametrica Management Ltd purchased a new stake in shares of Spirit Aerosystems Holdings during the second quarter valued at approximately $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 during the last quarter. 98.51% of the stock is currently 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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