In the latest trading session, Spirit Aerosystems (SPR - Free Report) closed at $91.46, marking a +0.51% move from the previous day. This move outpaced the S&P 500's daily loss of 0.29%. Meanwhile, the Dow lost 0.55%, and the Nasdaq, a tech-heavy index, added 0.07%.
Heading into today, shares of the aircraft parts maker had lost 5.48% over the past month, lagging the Aerospace sector's loss of 5.32% and the S&P 500's gain of 2.14% in that time.
Wall Street will be looking for positivity from SPR as it approaches its next earnings report date. On that day, SPR is projected to report earnings of $1.69 per share, which would represent year-over-year growth of 53.64%. Meanwhile, our latest consensus estimate is calling for revenue of $1.95 billion, up 12.21% from the prior-year quarter.
SPR's full-year Zacks Consensus Estimates are calling for earnings of $7.56 per share and revenue of $8.13 billion. These results would represent year-over-year changes of +20.77% and +12.58%, respectively.
It is also important to note the recent changes to analyst estimates for SPR. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. SPR currently has a Zacks Rank of #1 (Strong Buy).
Digging into valuation, SPR currently has a Forward P/E ratio of 12.03. Its industry sports an average Forward P/E of 17.65, so we one might conclude that SPR is trading at a discount comparatively.
We can also see that SPR currently has a PEG ratio of 1.55. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Aerospace - Defense Equipment industry currently had an average PEG ratio of 2.37 as of yesterday's close.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 43, which puts it in the top 17% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.