FLIR Systems Rating Lowered to Underperform at Zacks (FLIR)
FLIR Systems (NASDAQ:FLIR) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research report issued on Friday, Analyst RN reports. They currently have a $29.00 price target on the stock. Zacks‘ price objective would indicate a potential downside of 9.80% from the stock’s previous close.
Zacks‘ analyst wrote, “We have downgraded our recommendation on FLIR Systems from Neutral to Underperform with a target price of $29.00. The company’s earnings for fourth quarter 2013 declined 32.7% while revenues were up 3.6% year over year. The company’s organic revenue also declined due to unexpected delays in delivery and a dismal performance in the company’s government segment. However, the competitive landscape in the industry and the current volatile macro-economic condition is also expected to impact FLIR’s business negatively, especially in the specified regions moving forward. Besides, government budgetary constraints, funding delays and stringent regulatory compliance remain headwinds. However, the company’s moderated price structure and best quality services along with its cost-control strategy are the positives.”
In other FLIR Systems news, CFO Anthony Trunzo sold 15,650 shares of FLIR Systems stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $31.12, for a total value of $487,028.00. Following the sale, the chief financial officer now directly owns 166,339 shares of the company’s stock, valued at approximately $5,176,470. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of other firms have also recently commented on FLIR. Analysts at Drexel Hamilton upgraded shares of FLIR Systems from a “hold” rating to a “buy” rating in a research note on Wednesday, January 8th. Separately, analysts at Capital Ideas Research upgraded shares of FLIR Systems to a “buy” rating in a research note on Tuesday, December 3rd. Finally, analysts at CRT Capital upgraded shares of FLIR Systems from a “fair value” rating to a “buy” rating in a research note on Tuesday, December 3rd. They now have a $37.00 price target on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $31.00.
FLIR Systems (NASDAQ:FLIR) traded up 1.99% on Friday, hitting $32.79. 1,210,947 shares of the company’s stock traded hands. FLIR Systems has a one year low of $23.00 and a one year high of $34.19. The stock has a 50-day moving average of $31.85 and a 200-day moving average of $30.8. The company has a market cap of $4.632 billion and a price-to-earnings ratio of 26.35.
FLIR Systems (NASDAQ:FLIR) last released its earnings data on Thursday, February 6th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by $0.03. The company had revenue of $400.30 million for the quarter, compared to the consensus estimate of $387.22 million. During the same quarter in the previous year, the company posted $0.52 earnings per share. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. Analysts expect that FLIR Systems will post $1.45 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, March 7th. Stockholders of record on Wednesday, February 19th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Friday, February 14th. This is a boost from FLIR Systems’s previous quarterly dividend of $0.09.
FLIR Systems, Inc (NASDAQ:FLIR) is a designer, manufacturer, and marketer of thermal imaging systems.
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