Brokerages Anticipate KLX Inc. (NASDAQ:KLXI) Will Announce Quarterly Sales of $428.40 Million
Analysts predict that KLX Inc. (NASDAQ:KLXI) will report sales of $428.40 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for KLX’s earnings, with the lowest sales estimate coming in at $423.00 million and the highest estimate coming in at $433.80 million. KLX reported sales of $391.40 million during the same quarter last year, which indicates a positive year over year growth rate of 9.5%. The firm is scheduled to issue its next earnings results on Wednesday, August 23rd.
On average, analysts expect that KLX will report full-year sales of $428.40 million for the current year, with estimates ranging from $1.67 billion to $1.76 billion. For the next year, analysts forecast that the business will post sales of $1.84 billion per share, with estimates ranging from $1.81 billion to $1.88 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for KLX.
KLX (NASDAQ:KLXI) last released its quarterly earnings data on Wednesday, May 24th. The aerospace company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.06. KLX had a net margin of 4.24% and a return on equity of 3.99%. The firm had revenue of $411.30 million for the quarter, compared to analysts’ expectations of $409.95 million.
KLXI has been the topic of several recent analyst reports. BidaskClub raised shares of 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 issued a $52.00 price target on shares of KLX in a research note on Monday, July 17th. TheStreet raised shares of KLX from a “c+” rating to a “b-” rating in a research note on Wednesday, June 7th. Finally, Zacks Investment Research raised shares of KLX from a “hold” rating to a “strong-buy” rating and set a $56.00 price target on the stock in a research note on Saturday, July 1st. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $55.40.
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KLX (NASDAQ KLXI) opened at 52.17 on Tuesday. KLX has a 52-week low of $31.90 and a 52-week high of $53.13. The stock has a market cap of $2.70 billion, a PE ratio of 42.41 and a beta of 1.28. The firm has a 50 day moving average of $50.68 and a 200-day moving average of $48.63.
In related news, insider Roger Mark Franks sold 2,447 shares of the firm’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $47.70, for a total value of $116,721.90. Following the transaction, the insider now owns 21,444 shares of the company’s stock, valued at approximately $1,022,878.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 3,163 shares of company stock worth $153,553 in the last ninety days. 1.77% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in 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. increased its position in 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 increased its position in 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. increased its position in 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 increased its position in 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.
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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