Analysts Issue Forecasts for Heico Corporation’s FY2017 Earnings (HEI)
Heico Corporation (NYSE:HEI) – Equities researchers at Seaport Global Securities issued their FY2017 EPS estimates for shares of Heico Corporation in a research note issued to investors on Tuesday. Seaport Global Securities analyst J. Sullivan forecasts that the aerospace company will earn $2.11 per share for the year. Seaport Global Securities currently has a “Neutral” rating and a $90.00 target price on the stock. Seaport Global Securities also issued estimates for Heico Corporation’s Q4 2017 earnings at $0.59 EPS, Q1 2018 earnings at $0.50 EPS, Q2 2018 earnings at $0.60 EPS, Q3 2018 earnings at $0.61 EPS, Q4 2018 earnings at $0.67 EPS, FY2018 earnings at $2.38 EPS, Q1 2019 earnings at $0.54 EPS, Q2 2019 earnings at $0.64 EPS, Q3 2019 earnings at $0.65 EPS and FY2019 earnings at $2.55 EPS.
Heico Corporation (NYSE:HEI) last posted its quarterly earnings data on Wednesday, August 23rd. The aerospace company reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.01. The firm had revenue of $391.50 million during the quarter, compared to the consensus estimate of $390.55 million. Heico Corporation had a net margin of 12.04% and a return on equity of 15.56%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.62 EPS.
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A number of other research firms also recently issued reports on HEI. Zacks Investment Research upgraded shares of Heico Corporation from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a report on Tuesday, May 30th. Jefferies Group LLC restated a “hold” rating and set a $89.00 price objective (up previously from $75.00) on shares of Heico Corporation in a report on Thursday, August 24th. Canaccord Genuity restated a “buy” rating and set a $80.00 price objective on shares of Heico Corporation in a report on Monday, May 22nd. Deutsche Bank AG downgraded shares of Heico Corporation from a “buy” rating to a “hold” rating and lifted their target price for the stock from $80.00 to $86.00 in a research note on Wednesday, August 16th. Finally, BidaskClub downgraded shares of Heico Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 18th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $90.89.
Shares of Heico Corporation (NYSE HEI) opened at 85.38 on Thursday. Heico Corporation has a 12-month low of $52.56 and a 12-month high of $87.36. The firm has a 50-day moving average of $83.80 and a 200-day moving average of $74.83. The company has a market cap of $7.21 billion, a P/E ratio of 41.81 and a beta of 0.76.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Suntrust Banks Inc. increased its stake in shares of Heico Corporation by 1.5% in the second quarter. Suntrust Banks Inc. now owns 12,918 shares of the aerospace company’s stock worth $927,000 after purchasing an additional 194 shares in the last quarter. Steinberg Global Asset Management increased its stake in shares of Heico Corporation by 1.4% in the first quarter. Steinberg Global Asset Management now owns 15,624 shares of the aerospace company’s stock worth $1,362,000 after purchasing an additional 209 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Heico Corporation by 2.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 9,749 shares of the aerospace company’s stock worth $850,000 after purchasing an additional 234 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Heico Corporation by 23.6% in the second quarter. Parkside Financial Bank & Trust now owns 1,482 shares of the aerospace company’s stock worth $106,000 after purchasing an additional 283 shares in the last quarter. Finally, D.A. Davidson & CO. increased its stake in shares of Heico Corporation by 24.7% in the second quarter. D.A. Davidson & CO. now owns 2,536 shares of the aerospace company’s stock worth $182,000 after purchasing an additional 502 shares in the last quarter. Hedge funds and other institutional investors own 26.40% of the company’s stock.
About Heico Corporation
HEICO Corporation manufactures Federal Aviation Administration (FAA)-approved jet engine and aircraft component replacement parts, other than the original equipment manufacturers (OEMs) and their subcontractors. The Company also manufactures various types of electronic equipment for the aviation, medical, telecommunications and electronics industries.
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