Spirit AeroSystems (NYSE:SPR) Releases Earnings Results, Misses Expectations By $0.84 EPS

Spirit AeroSystems (NYSE:SPRGet Free Report) announced its earnings results on Tuesday. The aerospace company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.84), Briefing.com reports. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.74 billion. The firm’s revenue for the quarter was up 37.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.46) earnings per share.

Spirit AeroSystems Price Performance

SPR stock opened at $28.33 on Thursday. The business has a 50-day moving average of $28.83 and a 200-day moving average of $24.15. Spirit AeroSystems has a fifty-two week low of $14.65 and a fifty-two week high of $38.34. The stock has a market capitalization of $2.99 billion, a P/E ratio of -4.67, a P/E/G ratio of 4.60 and a beta of 1.77.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Money Concepts Capital Corp boosted its stake in shares of Spirit AeroSystems by 1,076.9% during the 4th quarter. Money Concepts Capital Corp now owns 1,224 shares of the aerospace company’s stock worth $36,000 after buying an additional 1,120 shares during the last quarter. Captrust Financial Advisors increased its position in shares of Spirit AeroSystems by 57.7% during the 2nd quarter. Captrust Financial Advisors now owns 2,169 shares of the aerospace company’s stock worth $64,000 after purchasing an additional 794 shares during the last quarter. MetLife Investment Management LLC bought a new stake in shares of Spirit AeroSystems during the 1st quarter worth approximately $169,000. Panagora Asset Management Inc. acquired a new stake in shares of Spirit AeroSystems in the 1st quarter valued at approximately $200,000. Finally, IFP Advisors Inc increased its holdings in Spirit AeroSystems by 174.3% during the second quarter. IFP Advisors Inc now owns 4,399 shares of the aerospace company’s stock worth $128,000 after buying an additional 2,795 shares during the last quarter. Institutional investors and hedge funds own 88.05% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SPR shares. Royal Bank of Canada raised their price objective on shares of Spirit AeroSystems from $22.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 2nd. Truist Financial lifted their target price on Spirit AeroSystems from $26.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, January 10th. Stifel Nicolaus began coverage on Spirit AeroSystems in a research report on Friday, December 1st. They set a “hold” rating and a $28.00 price objective on the stock. Morgan Stanley cut their price target on shares of Spirit AeroSystems from $35.00 to $33.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft upgraded Spirit AeroSystems from a “hold” rating to a “buy” rating and increased their price objective for the stock from $16.00 to $30.00 in a research note on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $30.61.

Check Out Our Latest Report on Spirit AeroSystems

About Spirit AeroSystems

(Get Free Report)

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, nacelles, struts/pylons, horizontal and vertical stabilizers, flaps and slats flight control surfaces, wing structures, and fully functional and tested wing systems.

See Also

Earnings History for Spirit AeroSystems (NYSE:SPR)

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