Seaport Global Securities Weighs in on Spirit AeroSystems Holdings, Inc.’s Q3 2019 Earnings (NYSE:SPR)

Spirit AeroSystems Holdings, Inc. (NYSE:SPR) – Stock analysts at Seaport Global Securities dropped their Q3 2019 EPS estimates for Spirit AeroSystems in a research note issued on Tuesday, October 15th. Seaport Global Securities analyst J. Sullivan now forecasts that the aerospace company will post earnings of $1.70 per share for the quarter, down from their prior estimate of $1.79. Seaport Global Securities also issued estimates for Spirit AeroSystems’ FY2019 earnings at $6.88 EPS.

A number of other research analysts have also issued reports on SPR. ValuEngine upgraded Spirit AeroSystems from a “sell” rating to a “hold” rating in a research report on Wednesday, September 4th. Zacks Investment Research lowered Spirit AeroSystems from a “hold” rating to a “sell” rating and set a $84.00 price objective for the company. in a research report on Monday, July 8th. Cowen restated a “hold” rating and set a $90.00 price objective on shares of Spirit AeroSystems in a research report on Monday, July 8th. Morgan Stanley boosted their price objective on Spirit AeroSystems from $100.00 to $103.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Finally, Credit Suisse Group lowered Spirit AeroSystems from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $101.00 to $83.00 in a research report on Monday, July 15th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $94.66.

Shares of SPR opened at $83.00 on Wednesday. Spirit AeroSystems has a 52 week low of $64.48 and a 52 week high of $100.34. The firm has a market cap of $8.64 billion, a price-to-earnings ratio of 13.26, a PEG ratio of 1.59 and a beta of 1.18. The company has a current ratio of 1.96, a quick ratio of 1.42 and a debt-to-equity ratio of 1.47. The stock has a 50 day moving average of $82.46 and a 200-day moving average of $81.56.

Spirit AeroSystems (NYSE:SPR) last issued its earnings results on Wednesday, July 31st. The aerospace company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.64 by $0.07. The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.98 billion. Spirit AeroSystems had a return on equity of 56.85% and a net margin of 8.88%. The business’s revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.63 EPS.

Hedge funds have recently made changes to their positions in the business. Ellevest Inc. acquired a new position in shares of Spirit AeroSystems in the 2nd quarter worth approximately $28,000. Capital Bank & Trust Co bought a new position in Spirit AeroSystems in the 2nd quarter valued at $33,000. Parallel Advisors LLC boosted its position in Spirit AeroSystems by 1,685.2% in the 2nd quarter. Parallel Advisors LLC now owns 482 shares of the aerospace company’s stock valued at $39,000 after buying an additional 455 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in Spirit AeroSystems in the 2nd quarter valued at $40,000. Finally, Doyle Wealth Management bought a new position in Spirit AeroSystems in the 2nd quarter valued at $46,000. Institutional investors own 97.45% of the company’s stock.

In other Spirit AeroSystems news, Director Robert D. Johnson sold 500 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $79.58, for a total transaction of $39,790.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.84% of the company’s stock.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 16th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.48 dividend on an annualized basis and a yield of 0.58%. Spirit AeroSystems’s dividend payout ratio is currently 7.67%.

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.

See Also: Special Dividends

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

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