Spirit AeroSystems (SPR) Releases Quarterly Earnings Results, Beats Estimates By $0.10 EPS
Spirit AeroSystems (NYSE:SPR) posted its quarterly earnings data on Friday. The aerospace company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.22 by $0.10, Bloomberg Earnings reports. The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.66 billion. Spirit AeroSystems had a net margin of 4.98% and a return on equity of 31.14%. Spirit AeroSystems’s revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.89 EPS. Spirit AeroSystems updated its FY18 guidance to $6.25-6.50 EPS.
Shares of Spirit AeroSystems (NYSE:SPR) traded down $9.06 during trading on Friday, reaching $93.87. 2,696,950 shares of the company’s stock were exchanged, compared to its average volume of 989,114. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.56 and a quick ratio of 0.85. Spirit AeroSystems has a twelve month low of $51.85 and a twelve month high of $105.20. The firm has a market cap of $10,853.63, a price-to-earnings ratio of 17.64, a price-to-earnings-growth ratio of 1.48 and a beta of 1.37.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 9th. Shareholders of record on Monday, March 19th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, March 16th. This represents a $0.40 dividend on an annualized basis and a yield of 0.43%. Spirit AeroSystems’s payout ratio is 13.25%.
Spirit AeroSystems declared that its Board of Directors has initiated a share buyback plan on Friday, February 2nd that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the aerospace company to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
In other news, SVP Duane F. Hawkins sold 5,000 shares of the stock in a transaction on Monday, November 6th. The shares were sold at an average price of $83.04, for a total value of $415,200.00. Following the sale, the senior vice president now owns 39,374 shares in the company, valued at $3,269,616.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert D. Johnson sold 500 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $84.13, for a total transaction of $42,065.00. Following the completion of the sale, the director now owns 1,964 shares in the company, valued at approximately $165,231.32. The disclosure for this sale can be found here. Corporate insiders own 0.28% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. LSV Asset Management increased its stake in shares of Spirit AeroSystems by 19.5% in the fourth quarter. LSV Asset Management now owns 5,080,842 shares of the aerospace company’s stock worth $443,303,000 after acquiring an additional 827,943 shares during the period. Boston Partners increased its stake in shares of Spirit AeroSystems by 74.5% in the third quarter. Boston Partners now owns 4,230,462 shares of the aerospace company’s stock worth $328,791,000 after acquiring an additional 1,806,228 shares during the period. State Street Corp increased its stake in shares of Spirit AeroSystems by 2.2% in the second quarter. State Street Corp now owns 2,083,909 shares of the aerospace company’s stock worth $120,738,000 after acquiring an additional 44,802 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Spirit AeroSystems by 4.4% in the second quarter. Dimensional Fund Advisors LP now owns 924,139 shares of the aerospace company’s stock worth $53,542,000 after acquiring an additional 39,300 shares during the period. Finally, FMR LLC boosted its holdings in Spirit AeroSystems by 33.9% during the second quarter. FMR LLC now owns 796,187 shares of the aerospace company’s stock worth $46,131,000 after buying an additional 201,666 shares in the last quarter. Hedge funds and other institutional investors own 96.47% of the company’s stock.
TRADEMARK VIOLATION WARNING: This piece was first posted by Daily Political and is the property of of Daily Political. If you are viewing this piece on another publication, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark legislation. The original version of this piece can be viewed at https://www.dailypolitical.com/2018/02/04/spirit-aerosystems-spr-issues-quarterly-earnings-results.html.
Spirit AeroSystems 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.
Receive News & Ratings for Spirit AeroSystems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirit AeroSystems and related companies with MarketBeat.com's FREE daily email newsletter.