Zacks: Analysts Expect FLIR Systems, Inc. (FLIR) to Announce $0.47 Earnings Per Share
Brokerages expect that FLIR Systems, Inc. (NASDAQ:FLIR) will announce earnings of $0.47 per share for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for FLIR Systems’ earnings. The highest EPS estimate is $0.50 and the lowest is $0.44. FLIR Systems reported earnings per share of $0.43 in the same quarter last year, which suggests a positive year-over-year growth rate of 9.3%. The firm is expected to announce its next quarterly earnings results on Wednesday, October 25th.
According to Zacks, analysts expect that FLIR Systems will report full-year earnings of $1.85 per share for the current year, with EPS estimates ranging from $1.82 to $1.89. For the next year, analysts anticipate that the firm will report earnings of $2.03 per share, with EPS estimates ranging from $1.90 to $2.15. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow FLIR Systems.
FLIR Systems (NASDAQ:FLIR) last announced its earnings results on Wednesday, July 26th. The scientific and technical instruments company reported $0.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.01. FLIR Systems had a return on equity of 13.97% and a net margin of 12.44%. The company had revenue of $434.12 million during the quarter, compared to analyst estimates of $437.32 million. During the same period last year, the company posted $0.37 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year.
Several equities research analysts have recently weighed in on FLIR shares. Zacks Investment Research raised FLIR Systems from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a research note on Tuesday, June 27th. Needham & Company LLC increased their price target on FLIR Systems from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, September 6th. Stephens initiated coverage on FLIR Systems in a research note on Friday, July 7th. They issued an “overweight” rating for the company. BidaskClub raised FLIR Systems from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, Raymond James Financial, Inc. raised FLIR Systems from a “market perform” rating to a “strong-buy” rating and set a $43.00 target price for the company in a research note on Monday, July 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $38.38.
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In related news, COO Thomas A. Surran sold 261,320 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $38.25, for a total transaction of $9,995,490.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Earl R. Lewis sold 11,587 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $37.27, for a total value of $431,847.49. The disclosure for this sale can be found here. Insiders have sold 292,907 shares of company stock valued at $11,191,737 in the last ninety days. 3.00% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in the business. Perigon Wealth Management LLC boosted its holdings in FLIR Systems by 38.1% in the second quarter. Perigon Wealth Management LLC now owns 41,964 shares of the scientific and technical instruments company’s stock worth $1,454,000 after acquiring an additional 11,570 shares in the last quarter. USA Financial Portformulas Corp bought a new position in FLIR Systems in the second quarter worth approximately $2,623,000. Toronto Dominion Bank boosted its holdings in FLIR Systems by 25.6% in the second quarter. Toronto Dominion Bank now owns 46,224 shares of the scientific and technical instruments company’s stock worth $1,602,000 after acquiring an additional 9,434 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in FLIR Systems in the second quarter worth approximately $1,148,000. Finally, Koch Industries Inc. bought a new position in FLIR Systems in the second quarter worth approximately $214,000. Institutional investors and hedge funds own 90.73% of the company’s stock.
Shares of FLIR Systems (FLIR) opened at 39.77 on Wednesday. The firm has a market capitalization of $5.46 billion, a price-to-earnings ratio of 25.64 and a beta of 0.60. FLIR Systems has a 52 week low of $28.26 and a 52 week high of $40.76. The stock has a 50 day moving average price of $38.12 and a 200-day moving average price of $36.95.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 25th were paid a dividend of $0.15 per share. The ex-dividend date was Wednesday, August 23rd. This represents a $0.60 annualized dividend and a yield of 1.51%. FLIR Systems’s dividend payout ratio is currently 38.46%.
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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