Spirit AeroSystems (NYSE:SPR) Releases Quarterly Earnings Results, Misses Expectations By $3.49 EPS

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

Spirit AeroSystems Stock Down 6.1 %

SPR opened at $30.90 on Thursday. The firm has a market cap of $3.59 billion, a P/E ratio of -5.10, a PEG ratio of 25.80 and a beta of 1.79. Spirit AeroSystems has a 52 week low of $14.65 and a 52 week high of $36.34. The business’s fifty day simple moving average is $33.53 and its 200 day simple moving average is $29.65.

Wall Street Analysts Forecast Growth

SPR has been the subject of several analyst reports. The Goldman Sachs Group upped their price target on Spirit AeroSystems from $26.00 to $31.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Royal Bank of Canada upped their price target on Spirit AeroSystems from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Citigroup assumed coverage on Spirit AeroSystems in a research report on Wednesday, January 17th. They issued a “buy” rating and a $39.00 price objective for the company. UBS Group cut their price objective on Spirit AeroSystems from $35.00 to $33.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Stifel Nicolaus increased their price objective on Spirit AeroSystems from $30.00 to $34.00 and gave the stock a “hold” rating in a research report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Spirit AeroSystems currently has a consensus 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.