Brokerages Expect KLX Inc. (NASDAQ:KLXI) to Announce $0.67 Earnings Per Share
Wall Street analysts expect KLX Inc. (NASDAQ:KLXI) to report earnings of $0.67 per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for KLX’s earnings, with the highest EPS estimate coming in at $0.70 and the lowest estimate coming in at $0.66. KLX reported earnings of $0.43 per share in the same quarter last year, which indicates a positive year over year growth rate of 55.8%. The business is expected to report its next quarterly earnings results on Wednesday, August 23rd.
On average, analysts expect that KLX will report full year earnings of $2.81 per share for the current fiscal year, with EPS estimates ranging from $2.75 to $2.86. For the next fiscal year, analysts forecast that the company will report earnings of $3.43 per share, with EPS estimates ranging from $3.02 to $3.90. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that follow KLX.
KLX (NASDAQ:KLXI) last announced its quarterly earnings data on Wednesday, May 24th. The aerospace company reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.06. The business had revenue of $411.30 million for the quarter, compared to analyst estimates of $409.95 million. KLX had a net margin of 4.24% and a return on equity of 3.99%.
Several equities analysts have weighed in on the company. BidaskClub raised KLX from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 14th. Cowen and Company reaffirmed a “buy” rating and set a $52.00 target price on shares of KLX in a research note on Monday, July 17th. TheStreet raised KLX from a “c+” rating to a “b-” rating in a research note on Wednesday, June 7th. Finally, Zacks Investment Research raised KLX from a “hold” rating to a “strong-buy” rating and set a $56.00 target price on the stock in a research note on Saturday, July 1st. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $55.40.
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In other news, insider Roger Mark Franks sold 2,447 shares of KLX stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $47.70, for a total transaction of $116,721.90. Following the completion of the sale, the insider now directly owns 21,444 shares in the company, valued at approximately $1,022,878.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have sold 3,163 shares of company stock valued at $153,553. 1.77% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of KLX by 16,238.1% in the first quarter. BlackRock Inc. now owns 6,303,731 shares of the aerospace company’s stock valued at $281,777,000 after buying an additional 6,265,148 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of KLX by 4.9% in the first quarter. Vanguard Group Inc. now owns 4,292,293 shares of the aerospace company’s stock valued at $191,865,000 after buying an additional 201,203 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of KLX by 36.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,675,495 shares of the aerospace company’s stock valued at $119,593,000 after buying an additional 708,731 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of KLX by 62.7% in the first quarter. Goldman Sachs Group Inc. now owns 2,620,065 shares of the aerospace company’s stock valued at $117,117,000 after buying an additional 1,009,575 shares in the last quarter. Finally, State Street Corp raised its stake in shares of KLX by 11.3% in the first quarter. State Street Corp now owns 2,167,821 shares of the aerospace company’s stock valued at $96,904,000 after buying an additional 219,261 shares in the last quarter.
Shares of KLX (NASDAQ KLXI) traded up 0.48% on Friday, hitting $52.15. 193,051 shares of the stock traded hands. The company’s 50 day moving average is $50.68 and its 200 day moving average is $48.63. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 42.40 and a beta of 1.28. KLX has a one year low of $31.05 and a one year high of $53.13.
KLX Inc (KLX) is the distributor and service provider of aerospace fasteners and consumables. The Company offers ranges of aerospace hardware and consumables and inventory management services across the world. The Company operates through two segments: Aerospace Solutions Group (ASG) and Energy Services Group (ESG).
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