Spirit AeroSystems (NYSE:SPR) Issues Quarterly Earnings Results

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

Spirit AeroSystems Price Performance

Shares of SPR stock traded up $0.20 during trading hours on Wednesday, reaching $33.65. The company had a trading volume of 969,156 shares, compared to its average volume of 3,697,110. The business has a fifty day simple moving average of $33.08 and a 200-day simple moving average of $32.09. Spirit AeroSystems has a 12 month low of $14.65 and a 12 month high of $37.08. The company has a market cap of $3.92 billion, a price-to-earnings ratio of -3.85 and a beta of 1.84.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SPR. StockNews.com initiated coverage on Spirit AeroSystems in a research note on Sunday. They issued a “sell” rating for the company. Royal Bank of Canada boosted their target price on shares of Spirit AeroSystems from $33.00 to $35.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 8th. Stifel Nicolaus upped their price target 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. Benchmark reissued a “hold” rating on shares of Spirit AeroSystems in a research report on Thursday, June 20th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $37.00 price objective (up from $36.00) on shares of Spirit AeroSystems in a research note on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average 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.