Spirit AeroSystems (NYSE:SPR) Releases Earnings Results, Misses Expectations By $2.87 EPS

Spirit AeroSystems (NYSE:SPR) announced its quarterly earnings data on Wednesday. The aerospace company reported ($3.03) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($2.87), Zacks reports. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.83 billion.

Spirit AeroSystems Trading Down 0.7 %

Shares of NYSE SPR traded down $0.22 during midday trading on Friday, hitting $31.44. 1,111,007 shares of the company’s stock were exchanged, compared to its average volume of 3,083,878. The business’s fifty day moving average price is $33.17 and its two-hundred day moving average price is $32.92. The company has a market cap of $3.66 billion, a price-to-earnings ratio of -3.62 and a beta of 1.85. Spirit AeroSystems has a 12-month low of $20.98 and a 12-month high of $37.08.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Barclays reaffirmed an “equal weight” rating and set a $37.00 price target (down previously from $40.00) on shares of Spirit AeroSystems in a research report on Wednesday, July 3rd. Baird R W downgraded shares of Spirit AeroSystems from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 12th. Robert W. Baird reissued a “neutral” rating and issued a $37.25 price target (up previously from $36.00) on shares of Spirit AeroSystems in a research report on Friday, July 12th. Susquehanna reaffirmed a “neutral” rating and issued a $37.00 price objective (down from $40.00) on shares of Spirit AeroSystems in a report on Wednesday, July 17th. Finally, StockNews.com initiated coverage on shares of Spirit AeroSystems in a report on Wednesday. They set a “sell” rating on the stock. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $35.54.

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.