FY2018 Earnings Estimate for Spirit AeroSystems Holdings, Inc. Issued By SunTrust Banks (SPR)
Spirit AeroSystems Holdings, Inc. (NYSE:SPR) – Analysts at SunTrust Banks boosted their FY2018 earnings per share (EPS) estimates for Spirit AeroSystems in a report issued on Monday. SunTrust Banks analyst M. Ciarmoli now anticipates that the aerospace company will post earnings of $6.02 per share for the year, up from their previous forecast of $5.26. SunTrust Banks has a “Hold” rating and a $93.00 price target on the stock. SunTrust Banks also issued estimates for Spirit AeroSystems’ FY2019 earnings at $6.17 EPS.
Several other brokerages have also weighed in on SPR. Canaccord Genuity reissued a “buy” rating and issued a $86.00 price objective on shares of Spirit AeroSystems in a report on Tuesday, October 31st. Buckingham Research boosted their price objective on Spirit AeroSystems from $53.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, September 28th. Royal Bank of Canada set a $77.00 price objective on Spirit AeroSystems and gave the company a “sell” rating in a report on Sunday, November 12th. Cowen reissued an “outperform” rating and issued a $88.00 price objective (up from $79.00) on shares of Spirit AeroSystems in a report on Thursday, September 28th. Finally, Zacks Investment Research raised Spirit AeroSystems from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a report on Wednesday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $84.11.
Spirit AeroSystems (NYSE:SPR) last announced its earnings results on Wednesday, November 1st. The aerospace company reported $1.26 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.26. Spirit AeroSystems had a return on equity of 31.14% and a net margin of 4.98%. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period in the previous year, the company earned $1.16 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year.
The business also recently announced a quarterly dividend, which was paid on Monday, January 8th. Stockholders of record on Monday, December 18th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Friday, December 15th. Spirit AeroSystems’s dividend payout ratio (DPR) is presently 14.08%.
In other news, SVP Duane F. Hawkins sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $83.04, for a total transaction of $415,200.00. Following the completion of the transaction, the senior vice president now directly owns 39,374 shares in the company, valued at $3,269,616.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert D. Johnson sold 500 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $84.13, for a total value of $42,065.00. Following the transaction, the director now owns 1,964 shares of the company’s stock, valued at $165,231.32. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Fisher Asset Management LLC grew its stake in shares of Spirit AeroSystems by 839.5% during the third quarter. Fisher Asset Management LLC now owns 138,680 shares of the aerospace company’s stock valued at $10,778,000 after purchasing an additional 123,919 shares during the last quarter. Koch Industries Inc. purchased a new position in Spirit AeroSystems during the 2nd quarter valued at $524,000. Lockheed Martin Investment Management Co. increased its position in Spirit AeroSystems by 30.0% during the 3rd quarter. Lockheed Martin Investment Management Co. now owns 26,000 shares of the aerospace company’s stock valued at $2,021,000 after purchasing an additional 6,000 shares during the period. Alyeska Investment Group L.P. increased its position in Spirit AeroSystems by 67.5% during the 3rd quarter. Alyeska Investment Group L.P. now owns 554,578 shares of the aerospace company’s stock valued at $43,102,000 after purchasing an additional 223,413 shares during the period. Finally, Raymond James Trust N.A. increased its position in Spirit AeroSystems by 51.9% during the 3rd quarter. Raymond James Trust N.A. now owns 5,254 shares of the aerospace company’s stock valued at $408,000 after purchasing an additional 1,795 shares during the period. Institutional investors and hedge funds own 96.12% of the company’s stock.
Spirit AeroSystems 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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