|March 25, 2014|
|08:02 EDT||SPR||Spirit AeroSystems downgraded to Underperform from Neutral at Buckingham|
Buckingham downgraded Spirit as the firm expects the company to take additional charges, and predicts that analysts will lower their estimates for the company. The firm also sees less likelihood of the company recovering its mounting losses on its Gulfstream and A350XWB programs. Target to $21 from $26.
News For SPR From The Last 14 Days
|February 12, 2016|
|11:18 EDT||SPR||Battleground: Analysts split on Boeing in wake of SEC probe report|
Two research firms disagreed on the outlook for Boeing (BA) after Bloomberg yesterday reported that the SEC was investigating the company's accounting practices. Specifically, the agency is probing whether the airplane maker kept investors sufficiently updated about the production costs and sales of its 787 Dreamliner and 747 jumbo jet planes, the news service stated. BEARISH TAKE: Calling the news "the straw that broke the camel's back," JPMorgan analyst Seth Seifman downgraded Boeing to Neutral from Overweight. The primary risk to Boeing from the probe is that it will cause expectations for cash flows from the 787 to become "impaired," the analyst stated. Although Seifman believes that this outcome is "unlikely," he noted that cash flow from the 787 was central to his previously positive thesis about the stock. Additionally, he believes that the probe will reduce investors' already low confidence in the stock. The analyst cut his price target on the name to $120 from $142. BULLISH TAKE: The SEC probe will not hurt Boeing, as the company has been using the same accounting practices "for decades" and is "highly audited," wrote Sterne Agee CRT analyst Peter Arment. Moreover, it's too early in the 787's life cycle to accuse the company of misstating its costs, Arment contended. Additionally, 787 production costs should continue to decline, partly due to productivity gains and lower labor costs, he said. The analyst kept a $196 price target and Buy rating on the shares. SUPPLIERS: In a separate note to investors yesterday, JPMorgan's Seifman noted that Boeing suppliers Spirit (SPR) and Triumph (TGI) use a different variation of program accounting and that this issue potentially may have no implications for them. PRICE ACTION: In late morning trading, Boeing added 0.5% to $109 after dropping nearly 7% yesterday.
|February 11, 2016|
|12:53 EDT||SPR||Spirit, Triumph use different accounting method than Boeing, says JPMorgan|
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|February 4, 2016|
|07:09 EDT||SPR||Spirit AeroSystems guidance positive, says Bernstein|
Noting that the high end of Spirit's 2016 EPS guidance came in well above expectations, Bernstein views that development as positive. The firm says that the company's Q4 margins were "good," and it keeps a $68 price target and Outperform rating on the shares.
|February 3, 2016|
|07:39 EDT||SPR||Spirit AeroSystems reports Q4 Fuselage Systems revenue $823M|
Reports Q4 Propulsion revenue $435M. Reports Q4 Wing Systems revenue $352M.
|07:38 EDT||SPR||Spirit AeroSystems board authorizes new share repurchase program of up to $600M|
The Board of Directors has authorized a new share repurchase program of up to $600 million of Spirit's common stock under which repurchases may be made intermittently through December 31, 2017.
|07:37 EDT||SPR||Spirit AeroSystems sees FY16 EPS $4.15-$4.35, consensus $4.17|
Sees FY16 revenue $6.6B-$6.7B, consensus $6.85B. Sees FY16 free cash flow of $350M-$400M. Sees FY16 effective tax rate of 31.5%-32.5%.
|07:36 EDT||SPR||Spirit AeroSystems reports total backlog at FY15-end of $47B|
|07:36 EDT||SPR||Spirit AeroSystems records charge of $7.3M on 747 program|
Records a charge of $7.3 million on the 747 program as a result of production rate decrease starting in September 2016.
|07:36 EDT||SPR||Spirit AeroSystems reports Q4 adjusted EPS 95c, consensus 94c|
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