Spirit AeroSystems (NYSE:SPR) Issues Quarterly Earnings Results

Spirit AeroSystems (NYSE:SPR) released its quarterly earnings results on Monday. The aerospace company reported ($2.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.98) by ($1.75), Briefing.com reports. The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same period last year, the firm posted ($1.46) EPS. The business’s revenue was up 9.3% on a year-over-year basis.

Spirit AeroSystems Price Performance

SPR opened at $33.42 on Wednesday. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of -3.85 and a beta of 1.84. The firm’s fifty day moving average price is $33.08 and its two-hundred day moving average price is $32.09. Spirit AeroSystems has a 1 year low of $14.65 and a 1 year high of $37.08.

Analysts Set New Price Targets

Several research analysts have issued reports on SPR shares. UBS Group raised their price target on shares of Spirit AeroSystems from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, July 1st. Stifel Nicolaus raised their price objective on shares of Spirit AeroSystems from $34.00 to $37.25 and gave the stock a “hold” rating in a research report on Monday, July 8th. Susquehanna reaffirmed a “neutral” rating and set a $37.00 price objective (down previously from $40.00) on shares of Spirit AeroSystems in a research report on Wednesday, July 17th. Robert W. Baird reaffirmed a “neutral” rating and set a $37.25 price objective (up previously from $36.00) on shares of Spirit AeroSystems in a research report on Friday, July 12th. Finally, StockNews.com initiated coverage on shares of Spirit AeroSystems in a research report on Sunday. They set a “sell” rating for the company. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $33.60.

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.