Brokerages Expect Spirit AeroSystems Holdings, Inc. (SPR) Will Post Quarterly Sales of $1.86 Billion

Wall Street brokerages expect Spirit AeroSystems Holdings, Inc. (NYSE:SPR) to announce $1.86 billion in sales for the current quarter, according to Zacks. Five analysts have issued estimates for Spirit AeroSystems’ earnings, with the lowest sales estimate coming in at $1.83 billion and the highest estimate coming in at $1.90 billion. Spirit AeroSystems posted sales of $1.71 billion during the same quarter last year, which suggests a positive year over year growth rate of 8.8%. The firm is scheduled to announce its next earnings results on Friday, February 1st.

On average, analysts expect that Spirit AeroSystems will report full year sales of $7.25 billion for the current financial year, with estimates ranging from $7.22 billion to $7.29 billion. For the next year, analysts expect that the firm will report sales of $7.78 billion, with estimates ranging from $7.56 billion to $8.09 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Spirit AeroSystems.

Spirit AeroSystems (NYSE:SPR) last released its quarterly earnings results on Wednesday, October 31st. The aerospace company reported $1.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.63 by $0.07. Spirit AeroSystems had a return on equity of 46.86% and a net margin of 7.92%. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same period last year, the firm posted $1.26 EPS. The business’s revenue was up 3.7% on a year-over-year basis.

A number of equities research analysts recently weighed in on SPR shares. Standpoint Research raised Spirit AeroSystems from a “hold” rating to a “buy” rating in a report on Friday, October 12th. Bank of America raised Spirit AeroSystems from a “neutral” rating to a “buy” rating and raised their price target for the company from $100.00 to $105.00 in a report on Thursday, November 8th. Wells Fargo & Co set a $105.00 price target on Spirit AeroSystems and gave the company a “buy” rating in a report on Thursday, November 1st. Finally, Credit Suisse Group lifted their target price on Spirit AeroSystems from $102.00 to $103.00 and gave the company an “outperform” rating in a research note on Thursday, November 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Spirit AeroSystems has a consensus rating of “Buy” and an average target price of $106.27.

SPR stock traded down $0.49 during midday trading on Friday, reaching $73.18. 800,385 shares of the company’s stock traded hands, compared to its average volume of 706,009. Spirit AeroSystems has a 1-year low of $71.70 and a 1-year high of $105.20. The stock has a market capitalization of $7.81 billion, a price-to-earnings ratio of 13.68, a P/E/G ratio of 1.54 and a beta of 1.16. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.57 and a quick ratio of 1.06.

The company also recently announced a quarterly dividend, which will be paid on Monday, January 7th. Stockholders of record on Monday, December 17th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, December 14th. This represents a $0.48 annualized dividend and a dividend yield of 0.66%. Spirit AeroSystems’s dividend payout ratio (DPR) is currently 8.97%.

In other news, Director Robert D. Johnson sold 500 shares of Spirit AeroSystems stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $82.90, for a total value of $41,450.00. Following the completion of the sale, the director now directly owns 1,493 shares of the company’s stock, valued at approximately $123,769.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John A. Pilla sold 9,642 shares of Spirit AeroSystems stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $84.01, for a total value of $810,024.42. Following the completion of the sale, the senior vice president now directly owns 21,866 shares of the company’s stock, valued at $1,836,962.66. The disclosure for this sale can be found here. 0.87% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the company. Aperio Group LLC lifted its holdings in Spirit AeroSystems by 2.1% during the second quarter. Aperio Group LLC now owns 49,248 shares of the aerospace company’s stock worth $4,231,000 after acquiring an additional 990 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in Spirit AeroSystems during the second quarter worth about $222,000. Commonwealth Equity Services LLC lifted its holdings in Spirit AeroSystems by 87.1% during the second quarter. Commonwealth Equity Services LLC now owns 13,205 shares of the aerospace company’s stock worth $1,134,000 after acquiring an additional 6,149 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Spirit AeroSystems by 7.5% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 352,196 shares of the aerospace company’s stock worth $30,257,000 after acquiring an additional 24,562 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Spirit AeroSystems during the second quarter worth about $1,117,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

Spirit AeroSystems Company Profile

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.

Recommended Story: Why do companies engage in swaps?

Get a free copy of the Zacks research report on Spirit AeroSystems (SPR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

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.

Leave a Reply