Spirit AeroSystems (NYSE:SPR) Issues Earnings Results

Spirit AeroSystems (NYSE:SPR) announced its quarterly earnings results on Tuesday. The aerospace company reported ($3.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($3.49), Briefing.com reports. The business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.62 billion. Spirit AeroSystems’s quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.69) earnings per share.

Spirit AeroSystems Stock Performance

Shares of NYSE:SPR traded down $0.13 during midday trading on Thursday, hitting $30.77. The company’s stock had a trading volume of 1,772,914 shares, compared to its average volume of 3,802,523. The stock’s 50 day simple moving average is $33.53 and its 200 day simple moving average is $29.65. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of -5.10, 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 Analysts Forecast Growth

A number of analysts recently commented on the company. Royal Bank of Canada increased their price objective on Spirit AeroSystems from $33.00 to $35.00 and gave the company a “sector perform” rating in a research note on Wednesday. Susquehanna upped their price objective on shares of Spirit AeroSystems from $33.00 to $40.00 and gave the company a “positive” rating in a research note on Friday, April 12th. UBS Group cut their price target on Spirit AeroSystems from $35.00 to $33.00 and set a “neutral” rating for the company in a report on Wednesday. Morgan Stanley dropped their target price on Spirit AeroSystems from $35.00 to $33.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 7th. Finally, Truist Financial raised their price target on Spirit AeroSystems from $26.00 to $30.00 and gave the stock a “hold” rating in a research note on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $32.83.

Spirit AeroSystems Company Profile

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.