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

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

Spirit AeroSystems Stock Down 6.1 %

NYSE SPR opened at $30.90 on Thursday. Spirit AeroSystems has a 12-month low of $14.65 and a 12-month high of $36.34. The company has a market capitalization of $3.59 billion, a PE ratio of -5.10, a price-to-earnings-growth ratio of 25.80 and a beta of 1.79. The firm’s 50 day moving average is $33.53 and its 200-day moving average is $29.65.

Wall Street Analyst Weigh In

SPR has been the subject of several research reports. UBS Group lowered their price objective on shares of Spirit AeroSystems from $35.00 to $33.00 and set a “neutral” rating for the company in a research report on Wednesday. Royal Bank of Canada raised their price objective on shares of Spirit AeroSystems from $33.00 to $35.00 and gave the company a “sector perform” rating in a research report on Wednesday. Stifel Nicolaus raised their price objective on shares of Spirit AeroSystems from $30.00 to $34.00 and gave the company a “hold” rating in a research report on Wednesday, March 20th. TD Cowen upgraded shares of Spirit AeroSystems from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $27.00 to $35.00 in a research report on Thursday, February 8th. Finally, Susquehanna raised their price objective on shares of Spirit AeroSystems from $33.00 to $40.00 and gave the company a “positive” rating in a research report on Friday, April 12th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $32.83.

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.