Spirit Aerosystems Holdings, Inc. (NYSE:SPR) - Analysts at SunTrust Banks lifted their Q3 2017 earnings estimates for shares of Spirit Aerosystems Holdings in a research report issued on Wednesday. SunTrust Banks analyst M. Ciarmoli now expects that the aerospace company will post earnings of $1.23 per share for the quarter, up from their prior forecast 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.
A number of other research analysts have also recently weighed in on the company. BidaskClub upgraded Spirit Aerosystems Holdings from a “hold” rating to a “buy” rating in a report on Saturday. Canaccord Genuity lifted their target price on Spirit Aerosystems Holdings from $65.00 to $80.00 and gave the company a “buy” rating in a report on Thursday. Credit Suisse Group reiterated an “outperform” rating and issued a $80.00 target price (up previously from $74.00) on shares of Spirit Aerosystems Holdings in a report on Thursday. 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 report on Thursday. Finally, Cowen and Company reiterated a “buy” rating and issued a $69.00 target price on shares of Spirit Aerosystems Holdings in a report on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $67.13.
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Shares of Spirit Aerosystems Holdings (SPR) opened at 71.38 on Monday. The stock has a market cap of $8.45 billion, a P/E ratio of 25.59 and a beta of 1.36. The company has a 50 day moving average price of $58.97 and a 200 day moving average price of $57.64. Spirit Aerosystems Holdings has a 12-month low of $42.26 and a 12-month high of $72.43.
Spirit Aerosystems Holdings (NYSE:SPR) last posted its quarterly earnings data on Wednesday, August 2nd. The aerospace company reported $1.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.37. The firm had revenue of $1.83 billion for 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 company’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.21 EPS.
A number of hedge funds have recently made changes to their positions in SPR. Nomura Asset Management Co. Ltd. raised 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 in the last quarter. Focused Wealth Management Inc raised 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 in the last quarter. State of Alaska Department of Revenue raised 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 in the last quarter. Parametrica Management Ltd purchased a new stake in shares of Spirit Aerosystems Holdings during the second quarter valued at $217,000. Finally, PNC Financial Services Group Inc. raised 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 in the last quarter. 98.20% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Richard A. Gephardt sold 4,247 shares of the business’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $58.00, for a total value of $246,326.00. Following the completion of the sale, the director now directly owns 1,964 shares of the company’s stock, valued at $113,912. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.28% of the stock is owned by insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Monday, September 18th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Friday, September 15th. Spirit Aerosystems Holdings’s dividend payout ratio is currently 14.60%.
Spirit Aerosystems Holdings announced that its Board of Directors has authorized a stock buyback plan on Wednesday, August 2nd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the aerospace company to repurchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
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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