Heico (NYSE:HEI) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS
Heico (NYSE:HEI) issued its quarterly earnings data on Tuesday. The aerospace company reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.06, Briefing.com reports. The business had revenue of $532.32 million during the quarter, compared to analysts’ expectations of $510.67 million. Heico had a return on equity of 18.74% and a net margin of 15.55%. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 EPS.
Shares of Heico stock opened at $145.95 on Friday. The company has a quick ratio of 1.56, a current ratio of 3.20 and a debt-to-equity ratio of 0.33. Heico has a twelve month low of $71.47 and a twelve month high of $147.93. The business has a 50-day moving average price of $139.58 and a 200 day moving average price of $114.90. The firm has a market cap of $19.42 billion, a PE ratio of 80.64, a P/E/G ratio of 4.64 and a beta of 0.68.
In other Heico news, Director Mark H. Hildebrandt purchased 963 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was purchased at an average price of $103.34 per share, for a total transaction of $99,516.42. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Steven M. Walker sold 4,200 shares of Heico stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $103.00, for a total value of $432,600.00. Following the completion of the transaction, the chief accounting officer now owns 2,062 shares of the company’s stock, valued at approximately $212,386. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,473 shares of company stock valued at $6,881,107. 9.23% of the stock is owned by company insiders.
Several equities analysts have recently issued reports on the company. Robert W. Baird boosted their price objective on Heico from $125.00 to $170.00 and gave the company an “outperform” rating in a report on Tuesday, August 13th. SunTrust Banks boosted their price objective on Heico from $128.00 to $160.00 and gave the company a “buy” rating in a report on Thursday. Cowen reissued a “hold” rating and issued a $95.00 price objective on shares of Heico in a report on Wednesday, May 29th. Canaccord Genuity reissued a “buy” rating and issued a $160.00 price objective (up previously from $130.00) on shares of Heico in a report on Thursday. Finally, ValuEngine cut Heico from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $130.22.
HEICO Corporation, through its subsidiaries, designs, manufactures, and sells aerospace, defense, and electronic related products and services in the United States and internationally. The company's Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components.
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