Seaport Global Securities Weighs in on Spirit AeroSystems Holdings, Inc.’s Q1 2018 Earnings (SPR)
Spirit AeroSystems Holdings, Inc. (NYSE:SPR) – Stock analysts at Seaport Global Securities upped their Q1 2018 earnings per share estimates for Spirit AeroSystems in a research note issued on Thursday. Seaport Global Securities analyst J. Sullivan now expects that the aerospace company will post earnings of $1.52 per share for the quarter, up from their prior estimate of $1.31. Seaport Global Securities currently has a “Buy” rating and a $120.00 target price on the stock. Seaport Global Securities also issued estimates for Spirit AeroSystems’ Q1 2019 earnings at $1.79 EPS, Q2 2019 earnings at $1.86 EPS, Q3 2019 earnings at $2.02 EPS, Q4 2019 earnings at $2.09 EPS and FY2019 earnings at $7.74 EPS.
Other equities research analysts have also recently issued reports about the stock. ValuEngine cut shares of Spirit AeroSystems from a “strong-buy” rating to a “buy” rating in a report on Monday, October 2nd. Jefferies Group upped their price objective on shares of Spirit AeroSystems from $84.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, September 28th. Citigroup reiterated a “buy” rating and issued a $85.00 price objective on shares of Spirit AeroSystems in a report on Tuesday, September 26th. Canaccord Genuity reiterated a “buy” rating and issued a $86.00 price objective (up from $80.00) on shares of Spirit AeroSystems in a report on Thursday, September 28th. Finally, Zacks Investment Research upgraded shares of Spirit AeroSystems from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a report on Wednesday, October 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $87.78.
Spirit AeroSystems (NYSE:SPR) last posted its quarterly earnings results on Wednesday, November 1st. The aerospace company reported $1.26 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.26. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.74 billion. Spirit AeroSystems had a net margin of 4.98% and a return on equity of 31.14%. Spirit AeroSystems’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.16 earnings per share.
The company also recently declared a quarterly dividend, which was paid on Monday, January 8th. Shareholders of record on Monday, December 18th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend was Friday, December 15th. Spirit AeroSystems’s dividend payout ratio (DPR) is 14.08%.
In other Spirit AeroSystems news, SVP Duane F. Hawkins sold 5,000 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $83.04, for a total transaction of $415,200.00. Following the completion of the sale, the senior vice president now directly owns 39,374 shares in the company, valued at $3,269,616.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert D. Johnson sold 500 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $84.13, for a total transaction of $42,065.00. Following the sale, 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 owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue boosted its holdings in Spirit AeroSystems by 196.4% during the fourth quarter. State of Alaska Department of Revenue now owns 11,319 shares of the aerospace company’s stock valued at $987,000 after acquiring an additional 7,500 shares during the period. Westpac Banking Corp acquired a new position in shares of Spirit AeroSystems during the fourth quarter valued at about $632,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Spirit AeroSystems during the fourth quarter valued at about $166,000. Schwab Charles Investment Management Inc. raised its position in shares of Spirit AeroSystems by 3.2% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 418,574 shares of the aerospace company’s stock valued at $36,521,000 after buying an additional 13,088 shares during the last quarter. Finally, Gulf International Bank UK Ltd acquired a new position in shares of Spirit AeroSystems during the fourth quarter valued at about $3,271,000. Institutional investors own 96.18% of the company’s stock.
About Spirit AeroSystems
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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