Zacks: Brokerages Expect Spirit AeroSystems Holdings, Inc. (SPR) Will Post Quarterly Sales of $1.70 Billion
Wall Street analysts forecast that Spirit AeroSystems Holdings, Inc. (NYSE:SPR) will report $1.70 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Spirit AeroSystems’ earnings, with the highest sales estimate coming in at $1.73 billion and the lowest estimate coming in at $1.66 billion. Spirit AeroSystems posted sales of $1.69 billion during the same quarter last year, which would indicate a positive year over year growth rate of 0.6%. The firm is expected to report its next quarterly earnings results on Wednesday, May 2nd.
According to Zacks, analysts expect that Spirit AeroSystems will report full-year sales of $1.70 billion for the current year, with estimates ranging from $7.14 billion to $7.24 billion. For the next financial year, analysts expect that the firm will report sales of $7.57 billion per share, with estimates ranging from $7.47 billion to $7.75 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Spirit AeroSystems.
Spirit AeroSystems (NYSE:SPR) last announced its quarterly earnings results on Friday, February 2nd. The aerospace company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.10. The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.66 billion. Spirit AeroSystems had a return on equity of 34.03% and a net margin of 5.08%. Spirit AeroSystems’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.89 earnings per share.
In other news, SVP Stacy Cozad sold 1,100 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $91.47, for a total transaction of $100,617.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP William Edward Brown sold 5,500 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $92.36, for a total value of $507,980.00. Following the transaction, the senior vice president now directly owns 21,664 shares in the company, valued at $2,000,887.04. The disclosure for this sale can be found here. Corporate insiders own 0.28% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of Spirit AeroSystems by 18.7% in the 4th quarter. BlackRock Inc. now owns 7,616,743 shares of the aerospace company’s stock valued at $664,561,000 after acquiring an additional 1,200,213 shares during the period. LSV Asset Management increased its position in shares of Spirit AeroSystems by 19.5% in the 4th quarter. LSV Asset Management now owns 5,080,842 shares of the aerospace company’s stock valued at $443,303,000 after acquiring an additional 827,943 shares during the period. Bank of New York Mellon Corp increased its position in shares of Spirit AeroSystems by 1.1% in the 4th quarter. Bank of New York Mellon Corp now owns 1,277,294 shares of the aerospace company’s stock valued at $111,443,000 after acquiring an additional 13,957 shares during the period. JPMorgan Chase & Co. increased its position in shares of Spirit AeroSystems by 79.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 745,016 shares of the aerospace company’s stock valued at $57,813,000 after acquiring an additional 330,903 shares during the period. Finally, Wedge Capital Management L L P NC increased its position in shares of Spirit AeroSystems by 8.9% in the 4th quarter. Wedge Capital Management L L P NC now owns 729,881 shares of the aerospace company’s stock valued at $63,682,000 after acquiring an additional 59,956 shares during the period. 97.48% of the stock is currently owned by hedge funds and other institutional investors.
Spirit AeroSystems (SPR) traded down $4.74 during trading on Friday, reaching $86.28. The company’s stock had a trading volume of 1,616,653 shares, compared to its average volume of 1,137,625. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.74 and a current ratio of 1.64. The stock has a market capitalization of $10,400.18, a price-to-earnings ratio of 30.14, a P/E/G ratio of 1.31 and a beta of 1.45. Spirit AeroSystems has a one year low of $51.85 and a one year high of $105.20.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 9th. Stockholders of record on Monday, March 19th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Friday, March 16th. Spirit AeroSystems’s payout ratio is presently 13.25%.
Spirit AeroSystems declared that its Board of Directors has initiated a share repurchase program on Friday, February 2nd that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the aerospace company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.
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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