$161.11 Million in Sales Expected for Astronics Corporation (ATRO) This Quarter
Wall Street analysts expect Astronics Corporation (NASDAQ:ATRO) to announce sales of $161.11 million for the current quarter, Zacks reports. Two analysts have provided estimates for Astronics Corporation’s earnings. The highest sales estimate is $166.14 million and the lowest is $156.08 million. Astronics Corporation posted sales of $155.10 million during the same quarter last year, which suggests a positive year-over-year growth rate of 3.9%. The firm is expected to report its next earnings report on Tuesday, November 14th.
On average, analysts expect that Astronics Corporation will report full-year sales of $161.11 million for the current fiscal year. For the next fiscal year, analysts anticipate that the business will post sales of $668.14 million per share, with estimates ranging from $645.17 million to $691.10 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Astronics Corporation.
Astronics Corporation (NASDAQ:ATRO) last posted its quarterly earnings data on Wednesday, August 2nd. The aerospace company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.40 by $0.14. Astronics Corporation had a return on equity of 12.21% and a net margin of 6.73%. The company had revenue of $151.11 million during the quarter, compared to the consensus estimate of $162.33 million. During the same period last year, the business earned $0.50 EPS. The firm’s quarterly revenue was down 8.1% compared to the same quarter last year.
A number of analysts have recently commented on ATRO shares. Zacks Investment Research upgraded Astronics Corporation from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research note on Tuesday, July 4th. BidaskClub downgraded Astronics Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. TheStreet upgraded Astronics Corporation from a “c+” rating to a “b-” rating in a research note on Thursday, May 4th. Finally, Canaccord Genuity lowered their target price on Astronics Corporation from $40.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $34.33.
A number of institutional investors have recently modified their holdings of the company. FMR LLC increased its position in shares of Astronics Corporation by 46.5% in the second quarter. FMR LLC now owns 2,028,637 shares of the aerospace company’s stock worth $61,813,000 after buying an additional 643,968 shares in the last quarter. ACK Asset Management LLC acquired a new position in shares of Astronics Corporation during the first quarter worth about $13,238,000. Renaissance Technologies LLC acquired a new position in shares of Astronics Corporation during the first quarter worth about $2,386,000. Dimensional Fund Advisors LP increased its position in shares of Astronics Corporation by 9.7% in the second quarter. Dimensional Fund Advisors LP now owns 753,832 shares of the aerospace company’s stock worth $22,969,000 after buying an additional 66,950 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new position in shares of Astronics Corporation during the first quarter worth about $1,674,000. Institutional investors own 63.89% of the company’s stock.
Astronics Corporation (ATRO) traded up 2.67% on Friday, hitting $26.16. The stock had a trading volume of 240,524 shares. The company has a 50 day moving average price of $29.24 and a 200-day moving average price of $31.00. Astronics Corporation has a 52-week low of $23.95 and a 52-week high of $41.03. The company has a market cap of $744.57 million, a price-to-earnings ratio of 18.98 and a beta of 1.13.
About Astronics Corporation
Astronics Corporation is a supplier of products to the aerospace, defense, electronics and semiconductor industries. The Company’s products and services include electrical power generation, distribution and motion systems, lighting and safety systems, avionics products, aircraft structures, systems certification and automated test systems.
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