Heico Corp (HEI) to Post FY2018 Earnings of $2.38 Per Share, SunTrust Banks Forecasts
Heico Corp (NYSE:HEI) – Equities research analysts at SunTrust Banks raised their FY2018 EPS estimates for Heico in a report issued on Wednesday. SunTrust Banks analyst M. Ciarmoli now expects that the aerospace company will earn $2.38 per share for the year, up from their prior forecast of $2.22. SunTrust Banks has a “Buy” rating on the stock.
Other equities research analysts have also issued research reports about the company. Zacks Investment Research raised Heico from a “hold” rating to a “buy” rating and set a $79.20 price target on the stock in a research report on Tuesday, December 5th. Jefferies Group raised Heico from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Canaccord Genuity reaffirmed a “buy” rating and set a $88.00 price target (up previously from $76.00) on shares of Heico in a research report on Wednesday, December 20th. They noted that the move was a valuation call. Stephens set a $84.00 price target on Heico and gave the stock a “hold” rating in a research report on Friday, January 19th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $97.00 price target (up previously from $87.20) on shares of Heico in a research report on Thursday. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $85.96.
Heico (NYSE:HEI) last released its quarterly earnings results on Monday, December 18th. The aerospace company reported $0.50 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.04. The company had revenue of $421.22 million for the quarter, compared to analyst estimates of $408.32 million. Heico had a return on equity of 15.22% and a net margin of 13.26%. Heico’s revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.52 earnings per share.
Large investors have recently bought and sold shares of the stock. Moody Lynn & Lieberson LLC bought a new position in shares of Heico during the third quarter worth about $2,561,000. Virginia Retirement Systems ET AL bought a new position in shares of Heico during the third quarter worth about $763,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Heico by 97.8% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 38,537 shares of the aerospace company’s stock worth $3,461,000 after buying an additional 19,057 shares in the last quarter. Chilton Investment Co. LLC grew its holdings in shares of Heico by 149.8% during the fourth quarter. Chilton Investment Co. LLC now owns 351,111 shares of the aerospace company’s stock worth $33,127,000 after buying an additional 210,534 shares in the last quarter. Finally, Chartwell Investment Partners LLC grew its holdings in shares of Heico by 3.8% during the third quarter. Chartwell Investment Partners LLC now owns 52,025 shares of the aerospace company’s stock worth $4,672,000 after buying an additional 1,924 shares in the last quarter. Institutional investors and hedge funds own 21.31% of the company’s stock.
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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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