Astronics Corporation (NASDAQ:ATRO) Expected to Post Quarterly Sales of $160.51 Million
Wall Street brokerages predict that Astronics Corporation (NASDAQ:ATRO) will post sales of $160.51 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Astronics Corporation’s earnings, with the highest sales estimate coming in at $160.67 million and the lowest estimate coming in at $160.34 million. Astronics Corporation posted sales of $164.43 million during the same quarter last year, which would suggest a negative year over year growth rate of 2.4%. The business is scheduled to issue its next quarterly earnings results on Wednesday, August 2nd.
On average, analysts expect that Astronics Corporation will report full year sales of $160.51 million for the current financial year, with estimates ranging from $642.28 million to $647.17 million. For the next fiscal year, analysts expect that the business will report sales of $682.18 million per share, with estimates ranging from $673.25 million to $691.10 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Astronics Corporation.
Astronics Corporation (NASDAQ:ATRO) last posted its quarterly earnings results on Thursday, May 4th. The aerospace company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.09. The company had revenue of $152.40 million during the quarter, compared to the consensus estimate of $151.33 million. Astronics Corporation had a return on equity of 14.58% and a net margin of 7.75%. The firm’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.44 EPS.
ATRO has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Astronics Corporation from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a report on Tuesday, July 4th. TheStreet cut shares of Astronics Corporation from a “b-” rating to a “c+” rating in a report on Wednesday, June 7th.
Hedge funds and other institutional investors have recently modified their holdings of the company. Creative Planning boosted its position in shares of Astronics Corporation by 0.9% in the second quarter. Creative Planning now owns 10,900 shares of the aerospace company’s stock worth $332,000 after buying an additional 100 shares during the period. HGK Asset Management Inc. boosted its position in shares of Astronics Corporation by 1.3% in the first quarter. HGK Asset Management Inc. now owns 18,129 shares of the aerospace company’s stock worth $575,000 after buying an additional 228 shares during the period. Bronfman E.L. Rothschild L.P. boosted its position in shares of Astronics Corporation by 1.3% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 20,467 shares of the aerospace company’s stock worth $649,000 after buying an additional 257 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of Astronics Corporation by 11.0% in the first quarter. BNP Paribas Arbitrage SA now owns 4,745 shares of the aerospace company’s stock worth $151,000 after buying an additional 472 shares during the period. Finally, Nationwide Fund Advisors boosted its position in shares of Astronics Corporation by 1.8% in the first quarter. Nationwide Fund Advisors now owns 27,030 shares of the aerospace company’s stock worth $858,000 after buying an additional 475 shares during the period. 63.94% of the stock is owned by institutional investors and hedge funds.
Astronics Corporation (NASDAQ:ATRO) traded up 0.42% on Friday, hitting $30.77. The stock had a trading volume of 23,767 shares. The company has a market capitalization of $892.24 million, a price-to-earnings ratio of 19.11 and a beta of 1.14. Astronics Corporation has a 52 week low of $28.32 and a 52 week high of $41.03. The firm has a 50-day moving average of $30.60 and a 200 day moving average of $31.64.
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Astronics Corporation Company Profile
Astronics Corporation is a supplier of products to the aerospace, defense, electronics and semiconductor industries. The Company’s products and services include electrical power generation, distribution and motion systems, lighting and safety systems, avionics products, aircraft structures, systems certification and automated test systems.
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