$407.66 Million in Sales Expected for Heico Corporation (HEI) This Quarter
Analysts expect that Heico Corporation (NYSE:HEI) will announce $407.66 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Heico Corporation’s earnings. The highest sales estimate is $424.78 million and the lowest is $396.00 million. Heico Corporation reported sales of $363.30 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 12.2%. The company is expected to report its next earnings results on Tuesday, December 12th.
According to Zacks, analysts expect that Heico Corporation will report full-year sales of $407.66 million for the current fiscal year, with estimates ranging from $1.50 billion to $1.53 billion. For the next year, analysts anticipate that the company will post sales of $1.65 billion per share, with estimates ranging from $1.64 billion to $1.68 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Heico Corporation.
Heico Corporation (NYSE:HEI) last released its earnings results on Wednesday, August 23rd. The aerospace company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.01. Heico Corporation had a return on equity of 15.56% and a net margin of 12.04%. The business had revenue of $391.50 million for the quarter, compared to analyst estimates of $390.55 million. During the same quarter in the prior year, the company posted $0.62 earnings per share. Heico Corporation’s revenue was up 9.9% on a year-over-year basis.
HEI has been the subject of a number of analyst reports. Jefferies Group LLC reiterated a “hold” rating and set a $75.00 price target on shares of Heico Corporation in a research note on Monday, June 26th. Canaccord Genuity reiterated a “buy” rating and set a $91.00 price target (up previously from $80.00) on shares of Heico Corporation in a research note on Thursday, August 10th. Deutsche Bank AG downgraded Heico Corporation from a “buy” rating to a “hold” rating and lifted their price target for the company from $80.00 to $86.00 in a research note on Wednesday, August 16th. BidaskClub downgraded Heico Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 18th. Finally, Zacks Investment Research downgraded Heico Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Heico Corporation currently has a consensus rating of “Buy” and a consensus target price of $91.33.
Shares of Heico Corporation (NYSE HEI) opened at 89.28 on Wednesday. The company’s 50-day moving average price is $87.45 and its 200 day moving average price is $78.16. Heico Corporation has a 12-month low of $52.71 and a 12-month high of $91.32. The company has a market cap of $7.54 billion, a price-to-earnings ratio of 43.72 and a beta of 0.74.
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In other Heico Corporation news, Director Mark H. Hildebrandt bought 1,316 shares of the business’s stock in a transaction dated Thursday, October 5th. The shares were purchased at an average price of $76.13 per share, for a total transaction of $100,187.08. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Thomas S. Irwin sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $76.28, for a total value of $1,525,600.00. Following the completion of the transaction, the vice president now owns 31,110 shares in the company, valued at approximately $2,373,070.80. The disclosure for this sale can be found here. 9.76% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in HEI. Parkside Financial Bank & Trust boosted its stake in shares of Heico Corporation by 23.6% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,482 shares of the aerospace company’s stock worth $106,000 after buying an additional 283 shares during the last quarter. D.A. Davidson & CO. boosted its stake in shares of Heico Corporation by 24.7% in the 2nd quarter. D.A. Davidson & CO. now owns 2,536 shares of the aerospace company’s stock worth $182,000 after buying an additional 502 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Heico Corporation in the 1st quarter worth approximately $202,000. Comerica Bank purchased a new position in shares of Heico Corporation in the 2nd quarter worth approximately $209,000. Finally, KCG Holdings Inc. purchased a new position in shares of Heico Corporation in the 1st quarter worth approximately $232,000. Hedge funds and other institutional investors own 26.38% 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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