Spirit AeroSystems Holdings, Inc. (NYSE:SPR) Expected to Post Quarterly Sales of $1.98 Billion

Equities analysts expect that Spirit AeroSystems Holdings, Inc. (NYSE:SPR) will announce sales of $1.98 billion for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Spirit AeroSystems’ earnings. The lowest sales estimate is $1.93 billion and the highest is $2.02 billion. Spirit AeroSystems posted sales of $1.84 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 7.6%. The firm is expected to issue its next quarterly earnings results on Wednesday, August 7th.

According to Zacks, analysts expect that Spirit AeroSystems will report full year sales of $7.93 billion for the current fiscal year, with estimates ranging from $7.81 billion to $8.02 billion. For the next fiscal year, analysts anticipate that the company will report sales of $8.45 billion, with estimates ranging from $8.09 billion to $8.75 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Spirit AeroSystems.

Spirit AeroSystems (NYSE:SPR) last issued its quarterly earnings results on Wednesday, May 1st. The aerospace company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.67 by $0.01. Spirit AeroSystems had a net margin of 8.78% and a return on equity of 63.36%. The firm had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.93 billion. During the same period in the previous year, the business earned $1.10 earnings per share. Spirit AeroSystems’s revenue for the quarter was up 13.3% compared to the same quarter last year.

A number of research analysts recently commented on the company. Seaport Global Securities lowered Spirit AeroSystems from a “buy” rating to a “neutral” rating and set a $98.64 target price for the company. in a research note on Tuesday, March 5th. Vertical Research lowered Spirit AeroSystems from a “buy” rating to a “hold” rating and set a $103.00 target price for the company. in a research note on Wednesday, March 6th. Barclays restated a “buy” rating on shares of Spirit AeroSystems in a research note on Wednesday, March 13th. Cowen lowered Spirit AeroSystems from an “outperform” rating to a “market perform” rating and set a $92.49 price objective for the company. in a research note on Wednesday, April 3rd. Finally, Canaccord Genuity lowered Spirit AeroSystems from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $100.00 to $92.00 in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. Spirit AeroSystems currently has a consensus rating of “Hold” and a consensus price target of $99.72.

Shares of NYSE SPR traded down $4.99 during trading hours on Friday, hitting $78.53. The stock had a trading volume of 1,381,660 shares, compared to its average volume of 991,927. The stock has a market cap of $8.54 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 1.51 and a beta of 1.36. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.39 and a current ratio of 1.95. Spirit AeroSystems has a 52 week low of $64.48 and a 52 week high of $100.34.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 8th. Stockholders of record on Monday, June 17th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend is Friday, June 14th. Spirit AeroSystems’s payout ratio is presently 7.67%.

In other news, Director Robert D. Johnson sold 500 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $79.95, for a total transaction of $39,975.00. Following the sale, the director now owns 2,925 shares in the company, valued at $233,853.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.84% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of SPR. Norges Bank bought a new position in Spirit AeroSystems in the fourth quarter valued at about $64,753,000. Goldman Sachs Group Inc. boosted its holdings in Spirit AeroSystems by 100.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,620,026 shares of the aerospace company’s stock valued at $148,281,000 after acquiring an additional 812,131 shares during the last quarter. Man Group plc boosted its holdings in Spirit AeroSystems by 312.7% in the first quarter. Man Group plc now owns 850,246 shares of the aerospace company’s stock valued at $77,823,000 after acquiring an additional 644,248 shares during the last quarter. Millennium Management LLC boosted its holdings in Spirit AeroSystems by 186.0% in the fourth quarter. Millennium Management LLC now owns 711,717 shares of the aerospace company’s stock valued at $51,308,000 after acquiring an additional 462,846 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its holdings in Spirit AeroSystems by 95.5% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 704,218 shares of the aerospace company’s stock valued at $50,800,000 after acquiring an additional 343,921 shares during the last quarter. Institutional investors and hedge funds own 96.61% of the company’s stock.

About Spirit AeroSystems

Spirit AeroSystems Holdings, Inc designs, manufactures, and supplies commercial aero structures in the United States and internationally. The company operates in 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 related spares, as well as maintenance, repairs, and overhaul (MRO) services.

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

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