Spirit AeroSystems (NYSE:SPR – Get Free Report) announced its quarterly earnings results on Tuesday. The aerospace company reported ($3.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($3.49), Briefing.com reports. The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same period in the previous year, the business posted ($1.69) earnings per share. Spirit AeroSystems’s revenue was up 19.0% compared to the same quarter last year.
Spirit AeroSystems Trading Down 3.9 %
Spirit AeroSystems stock traded down $1.28 during midday trading on Wednesday, reaching $31.63. 1,339,197 shares of the stock traded hands, compared to its average volume of 3,796,719. The firm has a fifty day moving average price of $33.50 and a two-hundred day moving average price of $29.64. The firm has a market cap of $3.67 billion, a price-to-earnings ratio of -5.21, a PEG ratio of 25.80 and a beta of 1.79. Spirit AeroSystems has a fifty-two week low of $14.65 and a fifty-two week high of $36.34.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the stock. Stifel Nicolaus increased their target price on shares of Spirit AeroSystems from $30.00 to $34.00 and gave the company a “hold” rating in a report on Wednesday, March 20th. UBS Group dropped their price objective on shares of Spirit AeroSystems from $35.00 to $33.00 and set a “neutral” rating for the company in a research note on Wednesday. StockNews.com upgraded shares of Spirit AeroSystems from a “sell” rating to a “hold” rating in a report on Wednesday, February 7th. Truist Financial lifted their target price on shares of Spirit AeroSystems from $26.00 to $30.00 and gave the company a “hold” rating in a report on Wednesday, January 10th. Finally, Morgan Stanley reduced their target price on shares of Spirit AeroSystems from $35.00 to $33.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $32.28.
About Spirit AeroSystems
Spirit AeroSystems Holdings, Inc engages in the design, engineering, manufacture, and marketing of commercial aerostructures worldwide. It operates through three segments: Commercial, Defense & Space, and Aftermarket. The Commercial segment offers forward, mid, and rear fuselage sections and systems, floor beams, nacelles, struts/pylons, horizontal and vertical stabilizers, flaps and slats flight control surfaces, wing structures, and wing systems.
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