Spirit AeroSystems Holdings (SPR) reported quarterly earnings results on Friday, Apr-29-2016. The company said it had a profit of $1.29 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.22. Analysts had a consensus of $1.07. The company posted revenue of $1682.00 million in the period, compared to analysts expectations of $1687.64 million. The company’s revenue was down -3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.00 EPS.
Many Wall Street Analysts have commented on Spirit AeroSystems Holdings. Spirit AeroSystems Holdings was Downgraded by BofA/Merrill to ” Neutral” on Apr 20, 2016. Shares were Reiterated by RBC Capital Mkts on Feb 4, 2016 to “Sector Perform” and Lowered the Price Target to $ 47 from a previous price target of $55 .
Spirit AeroSystems Holdings opened for trading at $47.43 and hit $48.89 on the upside on Wednesday, eventually ending the session at $48.88, with a gain of 2.67% or 1.27 points. The heightened volatility saw the trading volume jump to 18,61,522 shares. Company has a market cap of $6,624 M.
In a different news, on Mar 14, 2016, John A Pilla (SVP/CTO) sold 3,661 shares at $45.88 per share price. According to the SEC, on Mar 3, 2016, Robert D Johnson (director) sold 500 shares at $46.05 per share price. On Feb 19, 2016, Mark Suchinski (VP & Corporate Controller) sold 842 shares at $45.00 per share price, according to the Form-4 filing with the securities and exchange commission.
Spirit AeroSystems Holdings Inc. is an independent non-original equipment manufacturer (OEM) aircraft parts designer and manufacturer of commercial aero structures. The Company operates in three segments: Fuselage Systems Propulsion Systems and Wing Systems. Fuselage Systems segment develops produces and markets forward mid and rear fuselage sections and systems primarily to aircraft OEMs as well as related spares and maintenance repair and overhaul support and services (MRO). The Propulsion Systems segment develops produces and markets struts/pylons nacelles (including thrust reversers) and related engine structural components primarily to aircraft or engine OEMs as well as related spares and MRO services. The Wing Systems segment develops produces and markets forward wings and wing components (including flight control surfaces) and other miscellaneous structural parts primarily to aircraft OEMs as well as related spares and MRO services.