Esterline Technologies Corporation (ESL) Forecasted to Post FY2019 Earnings of $6.00 Per Share
Esterline Technologies Corporation (NYSE:ESL) – Investment analysts at Jefferies Group cut their FY2019 earnings per share (EPS) estimates for Esterline Technologies Corporation in a report issued on Thursday. Jefferies Group analyst H. Rubel now forecasts that the aerospace company will post earnings per share of $6.00 for the year, down from their prior forecast of $6.50. Jefferies Group has a “Hold” rating and a $92.00 price target on the stock.
ESL has been the topic of a number of other research reports. Canaccord Genuity reiterated a “hold” rating and set a $90.00 target price on shares of Esterline Technologies Corporation in a research report on Thursday, June 22nd. Credit Suisse Group decreased their target price on Esterline Technologies Corporation from $106.00 to $96.00 and set an “outperform” rating on the stock in a research report on Monday, May 15th. Zacks Investment Research upgraded Esterline Technologies Corporation from a “hold” rating to a “buy” rating and set a $102.00 target price on the stock in a research report on Monday, May 8th. Finally, BidaskClub upgraded Esterline Technologies Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Esterline Technologies Corporation presently has an average rating of “Hold” and an average price target of $95.67.
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Shares of Esterline Technologies Corporation (NYSE:ESL) opened at 83.35 on Monday. Esterline Technologies Corporation has a 52-week low of $64.99 and a 52-week high of $102.70. The company has a market cap of $2.48 billion, a PE ratio of 18.65 and a beta of 1.43. The stock’s 50 day moving average is $97.02 and its 200 day moving average is $91.51.
Esterline Technologies Corporation (NYSE:ESL) last released its quarterly earnings data on Thursday, August 3rd. The aerospace company reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by $0.22. The company had revenue of $503.80 million for the quarter, compared to the consensus estimate of $522.38 million. Esterline Technologies Corporation had a net margin of 6.65% and a return on equity of 9.18%. The company’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.38 EPS.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. LS Investment Advisors LLC increased its position in Esterline Technologies Corporation by 2.9% in the first quarter. LS Investment Advisors LLC now owns 2,104 shares of the aerospace company’s stock valued at $181,000 after buying an additional 60 shares in the last quarter. Invictus RG increased its position in Esterline Technologies Corporation by 66.3% in the first quarter. Invictus RG now owns 2,252 shares of the aerospace company’s stock valued at $194,000 after buying an additional 898 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in Esterline Technologies Corporation during the second quarter valued at approximately $202,000. Oakbrook Investments LLC purchased a new position in Esterline Technologies Corporation during the second quarter valued at approximately $209,000. Finally, Perkins Coie Trust Co increased its position in Esterline Technologies Corporation by 7.9% in the second quarter. Perkins Coie Trust Co now owns 2,729 shares of the aerospace company’s stock valued at $259,000 after buying an additional 200 shares in the last quarter. 90.22% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Albert S. Yost sold 6,700 shares of the stock in a transaction on Friday, May 19th. The stock was sold at an average price of $92.61, for a total value of $620,487.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Hawkeye Fund Fpa sold 7,770 shares of the stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $96.50, for a total value of $749,805.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,170 shares of company stock valued at $3,865,674. 1.40% of the stock is owned by corporate insiders.
Esterline Technologies Corporation Company Profile
Esterline Technologies Corporation is a specialized manufacturing company. The Company designs, manufactures and markets engineered products and systems for application within the industries it serves. The Company operates through three segments: Avionics & Controls, Sensors & Systems, and Advanced Materials.
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