William Blair Equities Analysts Increase Earnings Estimates for FLIR Systems, Inc. (FLIR)
FLIR Systems, Inc. (NASDAQ:FLIR) – Stock analysts at William Blair lifted their Q4 2017 earnings per share (EPS) estimates for shares of FLIR Systems in a research note issued to investors on Wednesday. William Blair analyst J. Ho now expects that the scientific and technical instruments company will post earnings per share of $0.60 for the quarter, up from their prior estimate of $0.59. William Blair also issued estimates for FLIR Systems’ Q1 2018 earnings at $0.41 EPS, Q2 2018 earnings at $0.46 EPS, Q3 2018 earnings at $0.53 EPS, Q4 2018 earnings at $0.65 EPS and FY2018 earnings at $2.06 EPS.
FLIR Systems (NASDAQ:FLIR) last announced its quarterly earnings results on Wednesday, July 26th. The scientific and technical instruments company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.01. The company had revenue of $434.12 million during the quarter, compared to the consensus estimate of $437.32 million. FLIR Systems had a net margin of 12.32% and a return on equity of 13.58%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.37 earnings per share.
A number of other analysts also recently issued reports on FLIR. Zacks Investment Research raised shares of FLIR Systems from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Thursday. BidaskClub raised shares of FLIR Systems from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 11th. UBS AG raised shares of FLIR Systems from a “market perform” rating to a “strong-buy” rating in a report on Monday, July 10th. Raymond James Financial, Inc. raised shares of FLIR Systems from a “market perform” rating to a “strong-buy” rating and set a $43.00 price objective for the company in a report on Monday, July 10th. Finally, Stephens began coverage on shares of FLIR Systems in a report on Friday, July 7th. They set an “overweight” rating for the company. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. FLIR Systems has an average rating of “Buy” and an average price target of $38.13.
Shares of FLIR Systems (FLIR) traded down 1.56% on Thursday, hitting $37.77. 505,083 shares of the stock traded hands. The firm has a market cap of $5.15 billion, a P/E ratio of 25.16 and a beta of 0.58. The stock has a 50-day moving average price of $36.32 and a 200 day moving average price of $36.35. FLIR Systems has a 52 week low of $28.26 and a 52 week high of $38.94.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 25th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.56%. FLIR Systems’s dividend payout ratio is presently 39.47%.
In other FLIR Systems news, Director William Wright Crouch sold 38,800 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $35.95, for a total value of $1,394,860.00. Following the completion of the sale, the director now directly owns 36,006 shares of the company’s stock, valued at $1,294,415.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Earl R. Lewis sold 15,000 shares of the business’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $37.26, for a total transaction of $558,900.00. Following the completion of the sale, the director now directly owns 551,234 shares of the company’s stock, valued at $20,538,978.84. The disclosure for this sale can be found here. Insiders sold 71,771 shares of company stock valued at $2,625,195 over the last three months. 3.00% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the company. Perigon Wealth Management LLC increased its stake in FLIR Systems by 337.0% in the fourth quarter. Perigon Wealth Management LLC now owns 15,394 shares of the scientific and technical instruments company’s stock valued at $563,000 after buying an additional 11,871 shares in the last quarter. Teachers Advisors LLC boosted its position in FLIR Systems by 4.7% in the fourth quarter. Teachers Advisors LLC now owns 169,580 shares of the scientific and technical instruments company’s stock worth $6,137,000 after buying an additional 7,567 shares during the last quarter. Kentucky Retirement Systems purchased a new position in FLIR Systems during the fourth quarter worth about $357,000. Chevy Chase Trust Holdings Inc. boosted its position in FLIR Systems by 26.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 1,926,793 shares of the scientific and technical instruments company’s stock worth $69,904,000 after buying an additional 406,331 shares during the last quarter. Finally, Contravisory Investment Management Inc. boosted its position in FLIR Systems by 19.5% in the first quarter. Contravisory Investment Management Inc. now owns 9,971 shares of the scientific and technical instruments company’s stock worth $362,000 after buying an additional 1,624 shares during the last quarter. 92.10% of the stock is owned by institutional investors and hedge funds.
About FLIR Systems
FLIR Systems, Inc (FLIR) designs, develops, markets and distributes thermal imaging systems, visible-light imaging systems, locater systems, measurement and diagnostic systems and threat-detection solutions. The Company’s segments include Surveillance, Instruments, Security, OEM & Emerging Markets, Maritime and Detection.
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