KLX Inc. (KLXI) Expected to Post Quarterly Sales of $448.95 Million
Equities analysts predict that KLX Inc. (NASDAQ:KLXI) will announce sales of $448.95 million for the current quarter, Zacks reports. Two analysts have provided estimates for KLX’s earnings, with the highest sales estimate coming in at $451.90 million and the lowest estimate coming in at $446.00 million. KLX posted sales of $389.00 million in the same quarter last year, which would indicate a positive year over year growth rate of 15.4%. The firm is scheduled to report its next quarterly earnings report on Thursday, December 14th.
According to Zacks, analysts expect that KLX will report full-year sales of $448.95 million for the current year, with estimates ranging from $1.75 billion to $1.89 billion. For the next year, analysts anticipate that the firm will report sales of $1.90 billion per share, with estimates ranging from $1.85 billion to $1.97 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for KLX.
KLX (NASDAQ:KLXI) last posted its earnings results on Wednesday, August 23rd. The aerospace company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.67 by $0.06. KLX had a return on equity of 4.43% and a net margin of 4.83%. The company had revenue of $430.60 million for the quarter, compared to the consensus estimate of $423.08 million. The company’s revenue was up 13.6% compared to the same quarter last year.
Several research firms have recently commented on KLXI. Zacks Investment Research raised KLX from a “sell” rating to a “hold” rating in a research report on Tuesday, October 24th. Cowen and Company reaffirmed a “buy” rating and issued a $57.00 target price on shares of KLX in a research report on Thursday, October 19th. BidaskClub downgraded KLX from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $51.00 target price (down previously from $55.00) on shares of KLX in a research report on Thursday, August 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $55.40.
Several hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN boosted its stake in shares of KLX by 22.9% in the third quarter. Wells Fargo & Company MN now owns 88,007 shares of the aerospace company’s stock valued at $4,659,000 after buying an additional 16,372 shares during the period. Paradice Investment Management LLC boosted its stake in shares of KLX by 2.6% in the third quarter. Paradice Investment Management LLC now owns 1,528,146 shares of the aerospace company’s stock valued at $80,885,000 after buying an additional 39,236 shares during the period. Legal & General Group Plc boosted its stake in shares of KLX by 7.7% in the third quarter. Legal & General Group Plc now owns 76,126 shares of the aerospace company’s stock valued at $4,032,000 after buying an additional 5,435 shares during the period. American International Group Inc. boosted its stake in shares of KLX by 2.3% in the third quarter. American International Group Inc. now owns 139,914 shares of the aerospace company’s stock valued at $7,406,000 after buying an additional 3,155 shares during the period. Finally, Golden Gate Private Equity Inc. boosted its stake in shares of KLX by 9.0% in the third quarter. Golden Gate Private Equity Inc. now owns 96,513 shares of the aerospace company’s stock valued at $5,108,000 after buying an additional 8,000 shares during the period.
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KLX (KLXI) opened at $55.52 on Friday. KLX has a 12-month low of $36.64 and a 12-month high of $56.69. The company has a debt-to-equity ratio of 0.52, a current ratio of 7.28 and a quick ratio of 2.27. The company has a market capitalization of $2,885.64, a P/E ratio of 29.21, a PEG ratio of 3.34 and a beta of 1.33.
KLX Company Profile
KLX Inc (KLX) is the distributor and service provider of aerospace fasteners and consumables. The Company offers ranges of aerospace hardware and consumables and inventory management services across the world. The Company operates through two segments: Aerospace Solutions Group (ASG) and Energy Services Group (ESG).
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