Q4 2017 Earnings Estimate for Heico Corporation Issued By SunTrust Banks (HEI)
Heico Corporation (NYSE:HEI) – SunTrust Banks lifted their Q4 2017 EPS estimates for shares of Heico Corporation in a report released on Thursday. SunTrust Banks analyst M. Ciarmoli now forecasts that the aerospace company will earn $0.61 per share for the quarter, up from their previous forecast of $0.57. SunTrust Banks also issued estimates for Heico Corporation’s Q1 2018 earnings at $0.52 EPS and Q2 2018 earnings at $0.57 EPS.
Heico Corporation (NYSE:HEI) last issued its earnings results on Wednesday, August 23rd. The aerospace company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.01. The company had revenue of $391.50 million during the quarter, compared to the consensus estimate of $390.55 million. Heico Corporation had a net margin of 12.04% and a return on equity of 15.94%. Heico Corporation’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.62 EPS.
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Other equities analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Heico Corporation from a “hold” rating to a “buy” rating and set a $94.00 price target for the company in a report on Tuesday. Bank of America Corporation upgraded shares of Heico Corporation from a “neutral” rating to a “buy” rating in a report on Tuesday. Credit Suisse Group reiterated an “outperform” rating and issued a $98.00 price target (up previously from $85.00) on shares of Heico Corporation in a report on Tuesday. BidaskClub downgraded shares of Heico Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, August 18th. Finally, Canaccord Genuity raised their target price on shares of Heico Corporation from $91.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, August 23rd. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $88.25.
Heico Corporation (HEI) opened at 83.25 on Monday. Heico Corporation has a one year low of $52.56 and a one year high of $87.36. The company has a market cap of $7.03 billion, a P/E ratio of 40.77 and a beta of 0.76. The company has a 50-day moving average of $81.10 and a 200 day moving average of $73.02.
Several large investors have recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust boosted its stake in Heico Corporation by 23.6% in the second quarter. Parkside Financial Bank & Trust now owns 1,482 shares of the aerospace company’s stock valued at $106,000 after buying an additional 283 shares in the last quarter. D.A. Davidson & CO. boosted its stake in Heico Corporation by 24.7% in the second quarter. D.A. Davidson & CO. now owns 2,536 shares of the aerospace company’s stock valued at $182,000 after buying an additional 502 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in Heico Corporation during the first quarter valued at about $202,000. Brown Advisory Securities LLC purchased a new stake in Heico Corporation during the first quarter valued at about $202,000. Finally, Comerica Bank purchased a new stake in Heico Corporation during the second quarter valued at about $209,000. 26.41% of the stock is currently owned by institutional investors.
Heico Corporation Company Profile
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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