$1.73 Billion in Sales Expected for Spirit Aerosystems Holdings, Inc. (SPR) This Quarter
Brokerages forecast that Spirit Aerosystems Holdings, Inc. (NYSE:SPR) will report sales of $1.73 billion for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Spirit Aerosystems Holdings’ earnings, with the highest sales estimate coming in at $1.78 billion and the lowest estimate coming in at $1.67 billion. Spirit Aerosystems Holdings reported sales of $1.71 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 1.2%. The company is expected to announce its next earnings results before the market opens on Wednesday, November 1st.
On average, analysts expect that Spirit Aerosystems Holdings will report full year sales of $1.73 billion for the current fiscal year, with estimates ranging from $6.81 billion to $7.00 billion. For the next year, analysts expect that the business will post sales of $7.08 billion per share, with estimates ranging from $6.83 billion to $7.27 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Spirit Aerosystems Holdings.
Spirit Aerosystems Holdings (NYSE:SPR) last released its quarterly earnings results on Wednesday, August 2nd. The aerospace company reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.37. Spirit Aerosystems Holdings had a return on equity of 30.82% and a net margin of 4.97%. The company had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period last year, the business posted $1.21 earnings per share. The firm’s revenue was down .2% compared to the same quarter last year.
A number of analysts recently issued reports on SPR shares. BidaskClub cut Spirit Aerosystems Holdings from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th. Morgan Stanley reissued an “overweight” rating and issued a $66.00 target price (down from $67.00) on shares of Spirit Aerosystems Holdings in a research report on Thursday, July 13th. Jefferies Group LLC reissued a “buy” rating and issued a $68.00 target price on shares of Spirit Aerosystems Holdings in a research report on Tuesday, July 25th. Cowen and Company reissued a “buy” rating and issued a $69.00 target price on shares of Spirit Aerosystems Holdings in a research report on Wednesday, August 2nd. Finally, Seaport Global Securities raised Spirit Aerosystems Holdings from a “neutral” rating to a “buy” rating and upped their target price for the company from $62.00 to $83.00 in a research report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Spirit Aerosystems Holdings presently has an average rating of “Hold” and a consensus price target of $76.17.
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Shares of Spirit Aerosystems Holdings (NYSE:SPR) opened at 80.96 on Friday. The firm has a 50-day moving average price of $77.72 and a 200-day moving average price of $64.46. Spirit Aerosystems Holdings has a 1-year low of $48.36 and a 1-year high of $81.05. The stock has a market capitalization of $9.58 billion, a PE ratio of 29.07 and a beta of 1.36.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Monday, September 18th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Friday, September 15th. Spirit Aerosystems Holdings’s dividend payout ratio (DPR) is 14.60%.
Spirit Aerosystems Holdings declared that its Board of Directors has initiated a share repurchase program on Wednesday, August 2nd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the aerospace company to repurchase up to 4.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.
In other news, Director Charles L. Chadwell sold 6,600 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $76.49, for a total transaction of $504,834.00. Following the completion of the transaction, the director now directly owns 23,828 shares of the company’s stock, valued at approximately $1,822,603.72. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP John A. Pilla sold 10,088 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 93,258 shares of the company’s stock, valued at $6,957,046.80. The disclosure for this sale can be found here. Corporate insiders own 0.28% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Spirit Aerosystems Holdings by 2.4% during the 2nd quarter. BlackRock Inc. now owns 6,280,205 shares of the aerospace company’s stock worth $363,874,000 after buying an additional 148,240 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Spirit Aerosystems Holdings by 6.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,008,637 shares of the aerospace company’s stock worth $290,100,000 after buying an additional 305,946 shares in the last quarter. LSV Asset Management raised its stake in shares of Spirit Aerosystems Holdings by 9.8% during the 2nd quarter. LSV Asset Management now owns 3,468,615 shares of the aerospace company’s stock worth $200,971,000 after buying an additional 308,900 shares in the last quarter. Prudential PLC raised its stake in shares of Spirit Aerosystems Holdings by 2.8% during the 2nd quarter. Prudential PLC now owns 2,821,693 shares of the aerospace company’s stock worth $163,489,000 after buying an additional 77,385 shares in the last quarter. Finally, Boston Partners purchased a new position in shares of Spirit Aerosystems Holdings during the 2nd quarter worth approximately $140,460,000. 98.60% 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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