Spirit AeroSystems (SPR) Expected to Post Quarterly Sales of $1.70 Billion
Wall Street analysts expect Spirit AeroSystems (NYSE:SPR) to announce $1.70 billion in sales for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Spirit AeroSystems’ earnings, with the highest sales estimate coming in at $1.73 billion and the lowest estimate coming in at $1.66 billion. Spirit AeroSystems posted sales of $1.69 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 0.6%. The company is scheduled to report its next earnings results on Wednesday, May 2nd.
According to Zacks, analysts expect that Spirit AeroSystems will report full-year sales of $7.18 billion for the current financial year, with estimates ranging from $7.14 billion to $7.24 billion. For the next fiscal year, analysts forecast that the business will report sales of $7.57 billion per share, with estimates ranging from $7.47 billion to $7.75 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Spirit AeroSystems.
Spirit AeroSystems (NYSE:SPR) last posted its quarterly earnings data on Friday, February 2nd. The aerospace company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.10. Spirit AeroSystems had a return on equity of 34.03% and a net margin of 5.08%. The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period last year, the firm earned $0.89 EPS. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis.
Spirit AeroSystems stock opened at $79.37 on Friday. Spirit AeroSystems has a twelve month low of $51.85 and a twelve month high of $105.20. The company has a quick ratio of 0.74, a current ratio of 1.64 and a debt-to-equity ratio of 0.62. The company has a market cap of $9,007.99, a price-to-earnings ratio of 14.74, a P/E/G ratio of 1.13 and a beta of 1.48.
Spirit AeroSystems declared that its board has authorized a stock repurchase plan on Friday, February 2nd that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the aerospace company to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 9th. Investors of record on Monday, March 19th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Friday, March 16th. Spirit AeroSystems’s payout ratio is currently 7.48%.
In related news, SVP William Edward Brown sold 5,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $92.36, for a total value of $507,980.00. Following the completion of the transaction, the senior vice president now directly owns 21,664 shares of the company’s stock, valued at approximately $2,000,887.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Stacy Cozad sold 1,100 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $91.47, for a total value of $100,617.00. The disclosure for this sale can be found here. Company insiders own 0.87% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Spirit AeroSystems by 18.7% in the 4th quarter. BlackRock Inc. now owns 7,616,743 shares of the aerospace company’s stock valued at $664,561,000 after purchasing an additional 1,200,213 shares in the last quarter. LSV Asset Management increased its stake in Spirit AeroSystems by 19.5% in the 4th quarter. LSV Asset Management now owns 5,080,842 shares of the aerospace company’s stock valued at $443,303,000 after purchasing an additional 827,943 shares in the last quarter. Bank of New York Mellon Corp increased its position in Spirit AeroSystems by 1.1% during the fourth quarter. Bank of New York Mellon Corp now owns 1,277,294 shares of the aerospace company’s stock worth $111,443,000 after buying an additional 13,957 shares in the last quarter. Wedge Capital Management L L P NC increased its position in Spirit AeroSystems by 8.9% during the fourth quarter. Wedge Capital Management L L P NC now owns 729,881 shares of the aerospace company’s stock worth $63,682,000 after buying an additional 59,956 shares in the last quarter. Finally, Cornerstone Investment Partners LLC increased its position in Spirit AeroSystems by 72.8% during the fourth quarter. Cornerstone Investment Partners LLC now owns 599,820 shares of the aerospace company’s stock worth $52,334,000 after buying an additional 252,642 shares in the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.
About Spirit AeroSystems
Spirit AeroSystems Holdings, Inc, through its subsidiaries, designs, manufactures, and supplies commercial aero structures worldwide. It operates through three segments: Fuselage Systems, Propulsion Systems, and Wing Systems. The Fuselage Systems segment develops, produces, and markets forward, mid, and rear fuselage sections and systems primarily to aircraft original equipment manufacturers (OEMs); and offers related spares and maintenance, repairs, and overhaul (MRO) services.
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