Wall Street analysts expect Spirit Aerosystems Holdings, Inc. (NYSE:SPR) to announce $1.24 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Spirit Aerosystems Holdings’ earnings, with the lowest EPS estimate coming in at $1.19 and the highest estimate coming in at $1.27. Spirit Aerosystems Holdings posted earnings per share of $1.16 during the same quarter last year, which indicates a positive year over year growth rate of 6.9%. The firm is expected to issue its next earnings results on Tuesday, November 7th.
On average, analysts expect that Spirit Aerosystems Holdings will report full year earnings of $5.22 per share for the current year, with EPS estimates ranging from $5.17 to $5.30. For the next financial year, analysts anticipate that the company will post earnings of $5.30 per share, with EPS estimates ranging from $4.88 to $5.60. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that cover Spirit Aerosystems Holdings.
Spirit Aerosystems Holdings (NYSE:SPR) last issued its earnings results on Wednesday, August 2nd. The aerospace company reported $1.57 EPS for the quarter, beating the consensus estimate of $1.20 by $0.37. The company 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% compared to the same quarter last year. During the same period in the previous year, the company earned $1.21 EPS.
SPR has been the topic of several research reports. Credit Suisse Group reissued a “buy” rating and set a $74.00 price target on shares of Spirit Aerosystems Holdings in a research note on Friday, May 5th. BidaskClub downgraded shares of 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 price objective on shares of Spirit Aerosystems Holdings and gave the company a “buy” rating in a research report on Thursday, June 22nd. Morgan Stanley reissued an “overweight” rating and set a $66.00 price objective (down from $67.00) on shares of Spirit Aerosystems Holdings in a research report on Thursday, July 13th. Finally, Cowen and Company reissued a “buy” rating and set a $69.00 price objective on shares of Spirit Aerosystems Holdings in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $67.13.
In related news, Director Richard A. Gephardt sold 4,247 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $58.00, for a total value of $246,326.00. Following the transaction, the director now owns 1,964 shares in the company, valued at approximately $113,912. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.28% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the company. James Investment Research Inc. bought a new stake in shares of Spirit Aerosystems Holdings during the first quarter worth $349,000. Wells Fargo & Company MN raised its stake in shares of Spirit Aerosystems Holdings by 11.1% in the first quarter. Wells Fargo & Company MN now owns 3,695,032 shares of the aerospace company’s stock worth $214,016,000 after buying an additional 369,308 shares in the last quarter. Old Mutual Global Investors UK Ltd. raised its stake in shares of Spirit Aerosystems Holdings by 90.7% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 195,008 shares of the aerospace company’s stock worth $11,294,000 after buying an additional 92,750 shares in the last quarter. Northpointe Capital LLC bought a new stake in shares of Spirit Aerosystems Holdings during the first quarter worth $2,805,000. Finally, Glen Harbor Capital Management LLC raised its stake in shares of Spirit Aerosystems Holdings by 12.0% in the first quarter. Glen Harbor Capital Management LLC now owns 73,948 shares of the aerospace company’s stock worth $4,283,000 after buying an additional 7,896 shares in the last quarter. Institutional investors own 98.20% of the company’s stock.
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Spirit Aerosystems Holdings (SPR) opened at 71.38 on Friday. The company’s 50-day moving average is $58.97 and its 200-day moving average is $57.64. Spirit Aerosystems Holdings has a 52-week low of $42.26 and a 52-week high of $72.43. The firm has a market capitalization of $8.45 billion, a PE ratio of 25.59 and a beta of 1.36.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Monday, September 18th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Friday, September 15th. Spirit Aerosystems Holdings’s payout ratio is 14.60%.
Spirit Aerosystems Holdings declared that its Board of Directors has initiated a share buyback program on Wednesday, August 2nd that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the aerospace company to buy up to 4.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
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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