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

Spirit AeroSystems (NYSE:SPR) released its quarterly earnings data 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 business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.62 billion. The company’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) EPS.

Spirit AeroSystems Price Performance

NYSE SPR traded down $1.35 during trading hours on Wednesday, hitting $31.56. The company’s stock had a trading volume of 1,427,526 shares, compared to its average volume of 3,798,276. Spirit AeroSystems has a 12 month low of $14.65 and a 12 month high of $36.34. The company’s 50 day simple moving average is $33.50 and its two-hundred day simple moving average is $29.64. The company has a market cap of $3.66 billion, a P/E ratio of -5.21, a price-to-earnings-growth ratio of 25.80 and a beta of 1.79.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SPR. TD Cowen upgraded Spirit AeroSystems from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $27.00 to $35.00 in a report on Thursday, February 8th. Susquehanna raised their target price on shares of Spirit AeroSystems from $33.00 to $40.00 and gave the stock a “positive” rating in a research report on Friday, April 12th. UBS Group reduced their price target on shares of Spirit AeroSystems from $35.00 to $33.00 and set a “neutral” rating on the stock in a research report on Wednesday. Truist Financial lifted their price objective on Spirit AeroSystems from $26.00 to $30.00 and gave the company a “hold” rating in a research report on Wednesday, January 10th. Finally, Citigroup started coverage on Spirit AeroSystems in a research note on Wednesday, January 17th. They issued a “buy” rating and a $39.00 target price for the company. One research 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $32.28.

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.