Zacks: Brokerages Expect Spirit AeroSystems (SPR) Will Post Quarterly Sales of $1.70 Billion

Wall Street analysts expect that Spirit AeroSystems (NYSE:SPR) will report $1.70 billion in sales for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Spirit AeroSystems’ earnings, with estimates ranging from $1.66 billion to $1.73 billion. Spirit AeroSystems posted sales of $1.69 billion in the same quarter last year, which would indicate a positive year over year growth rate of 0.6%. The company is scheduled to announce its next earnings report before the market opens on Wednesday, May 2nd.

On average, analysts expect that Spirit AeroSystems will report full-year sales of $7.18 billion for the current year, with estimates ranging from $7.14 billion to $7.24 billion. For the next year, analysts forecast that the business will post sales of $7.57 billion per share, with estimates ranging from $7.47 billion to $7.75 billion. Zacks’ sales calculations are an average based on a survey of analysts that cover Spirit AeroSystems.

Spirit AeroSystems (NYSE:SPR) last posted its quarterly earnings results on Friday, February 2nd. The aerospace company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.22 by $0.10. Spirit AeroSystems had a net margin of 5.08% and a return on equity of 34.03%. The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the previous year, the business posted $0.89 EPS. The firm’s revenue was up 9.2% on a year-over-year basis.

Several brokerages have recently issued reports on SPR. ValuEngine upgraded shares of Spirit AeroSystems from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Canaccord Genuity restated a “buy” rating and issued a $115.00 target price on shares of Spirit AeroSystems in a report on Monday, January 29th. Robert W. Baird restated a “buy” rating and issued a $129.00 target price on shares of Spirit AeroSystems in a report on Monday, January 29th. Royal Bank of Canada set a $100.00 target price on shares of Spirit AeroSystems and gave the company a “sell” rating in a report on Tuesday, January 23rd. Finally, Seaport Global Securities restated a “buy” rating and issued a $120.00 target price on shares of Spirit AeroSystems in a report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $99.32.

Shares of Spirit AeroSystems stock traded down $0.80 during trading hours on Friday, hitting $80.51. The company had a trading volume of 519,118 shares, compared to its average volume of 1,014,404. Spirit AeroSystems has a twelve month low of $51.85 and a twelve month high of $105.20. The company has a current ratio of 1.64, a quick ratio of 0.74 and a debt-to-equity ratio of 0.62. The stock has a market cap of $9,309.10, a price-to-earnings ratio of 15.05, a PEG ratio of 1.17 and a beta of 1.48.

Spirit AeroSystems announced that its board has approved a stock repurchase plan on Friday, February 2nd that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the aerospace company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 9th. Investors of record on Monday, March 19th were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, March 16th. This represents a $0.40 annualized dividend and a yield of 0.50%. Spirit AeroSystems’s dividend payout ratio (DPR) is 7.48%.

In related news, SVP Stacy Cozad sold 1,100 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $91.47, for a total value of $100,617.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP William Edward Brown sold 5,500 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $92.36, for a total transaction of $507,980.00. Following the completion of the sale, the senior vice president now owns 21,664 shares of the company’s stock, valued at approximately $2,000,887.04. The disclosure for this sale can be found here. 0.87% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement Association of Colorado raised its position in Spirit AeroSystems by 2.6% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 23,264 shares of the aerospace company’s stock valued at $2,030,000 after purchasing an additional 580 shares during the last quarter. FDx Advisors Inc. raised its position in Spirit AeroSystems by 10.9% during the 4th quarter. FDx Advisors Inc. now owns 7,741 shares of the aerospace company’s stock worth $675,000 after buying an additional 762 shares during the last quarter. Creative Planning raised its position in Spirit AeroSystems by 37.6% during the 4th quarter. Creative Planning now owns 4,190 shares of the aerospace company’s stock worth $366,000 after buying an additional 1,146 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Spirit AeroSystems by 7.4% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 17,800 shares of the aerospace company’s stock worth $1,553,000 after buying an additional 1,227 shares during the last quarter. Finally, Itau Unibanco Holding S.A. raised its position in Spirit AeroSystems by 11.1% during the 4th quarter. Itau Unibanco Holding S.A. now owns 12,824 shares of the aerospace company’s stock worth $1,119,000 after buying an additional 1,278 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

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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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Earnings History and Estimates for Spirit AeroSystems (NYSE:SPR)

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