Spirit AeroSystems (NYSE:SPR) Releases Quarterly Earnings Results, Misses Estimates 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 analysts’ consensus estimates of ($0.16) by ($2.87), Zacks reports. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.83 billion.

Spirit AeroSystems Price Performance

Shares of SPR traded down $0.15 during midday trading on Friday, reaching $31.51. The stock had a trading volume of 345,510 shares, compared to its average volume of 3,080,185. The firm’s 50 day moving average price is $33.25 and its 200-day moving average price is $32.93. Spirit AeroSystems has a 52 week low of $20.98 and a 52 week high of $37.08. The company has a market capitalization of $3.67 billion, a P/E ratio of -3.08 and a beta of 1.85.

Analyst Upgrades and Downgrades

SPR has been the topic of a number of research reports. Baird R W cut Spirit AeroSystems from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 12th. Susquehanna reaffirmed a “neutral” rating and issued a $37.00 target price (down from $40.00) on shares of Spirit AeroSystems in a research report on Wednesday, July 17th. Robert W. Baird reiterated a “neutral” rating and issued a $37.25 target price (up from $36.00) on shares of Spirit AeroSystems in a research note on Friday, July 12th. Sanford C. Bernstein restated a “market perform” rating on shares of Spirit AeroSystems in a research report on Monday, July 8th. Finally, Truist Financial lifted their price objective on shares of Spirit AeroSystems from $30.00 to $35.00 and gave the company a “hold” rating in a research report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Spirit AeroSystems has an average rating of “Hold” and an average target price of $35.54.

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.