Spirit Aerosystems (NYSE:SPR) Issues Earnings Results

Key Points

• Spirit Aerosystems reported a quarterly loss of ($3.34) earnings per share, significantly missing analyst expectations of ($1.07) by ($2.27).
• The stock experienced a modest increase, trading up to $39.32 but has a considerable 52-week trading range from a low of $27.00 to a high of $42.33.
• Empowered Funds LLC raised its stake in Spirit Aerosystems by 9.7%, indicating continued institutional interest, with institutional investors owning 93.59% of the stock.

Spirit Aerosystems (NYSE:SPR - Get Free Report) posted its quarterly earnings data on Tuesday. The aerospace company reported ($3.34) EPS for the quarter, missing analysts' consensus estimates of ($0.52) by ($2.82), Zacks reports. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the company posted ($2.73) earnings per share. Spirit Aerosystems's revenue was up 9.6% on a year-over-year basis.

Spirit Aerosystems Trading Up 0.2%

NYSE:SPR traded up $0.08 during trading hours on Friday, hitting $39.95. The stock had a trading volume of 623,758 shares, compared to its average volume of 768,790. Spirit Aerosystems has a 1-year low of $27.00 and a 1-year high of $42.33. The business has a 50 day simple moving average of $38.85 and a two-hundred day simple moving average of $36.07. The company has a market cap of $4.69 billion, a PE ratio of -2.00 and a beta of 1.70.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SPR. Wall Street Zen upgraded shares of Spirit Aerosystems from a "strong sell" rating to a "hold" rating in a report on Saturday. Susquehanna raised their price target on shares of Spirit Aerosystems from $37.00 to $40.00 and gave the company a "neutral" rating in a report on Monday, July 14th.

Institutional Trading of Spirit Aerosystems

An institutional investor recently raised its position in Spirit Aerosystems stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR - Free Report) by 16.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 301,727 shares of the aerospace company's stock after buying an additional 43,558 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.26% of Spirit Aerosystems worth $10,398,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 93.59% of the company's stock.

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.