Zacks: Brokerages Anticipate Heico Corp (HEI) Will Announce Quarterly Sales of $466.43 Million

Wall Street analysts predict that Heico Corp (NYSE:HEI) will report sales of $466.43 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Heico’s earnings, with estimates ranging from $456.00 million to $481.20 million. Heico reported sales of $421.22 million during the same quarter last year, which indicates a positive year-over-year growth rate of 10.7%. The company is scheduled to issue its next earnings report on Monday, December 17th.

According to Zacks, analysts expect that Heico will report full year sales of $1.77 billion for the current fiscal year, with estimates ranging from $1.76 billion to $1.78 billion. For the next financial year, analysts expect that the company will post sales of $1.91 billion per share, with estimates ranging from $1.88 billion to $1.96 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Heico.

Heico (NYSE:HEI) last announced its quarterly earnings data on Monday, August 27th. The aerospace company reported $0.49 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.04. Heico had a return on equity of 16.15% and a net margin of 14.26%. The firm had revenue of $465.83 million for the quarter, compared to the consensus estimate of $440.68 million. During the same quarter last year, the business posted $0.53 earnings per share. The firm’s revenue was up 19.0% compared to the same quarter last year.

A number of equities analysts recently commented on the company. Canaccord Genuity lifted their price objective on Heico from $84.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, August 29th. Zacks Investment Research downgraded Heico from a “buy” rating to a “hold” rating in a research report on Monday, July 23rd. ValuEngine downgraded Heico from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. UBS Group assumed coverage on Heico in a research report on Wednesday, August 15th. They set a “neutral” rating and a $83.00 price objective on the stock. Finally, Jefferies Financial Group lifted their price objective on Heico to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, August 29th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $88.60.

In other Heico news, Director Frank J. Schwitter sold 750 shares of the firm’s stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $76.70, for a total transaction of $57,525.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alan Schriesheim sold 4,000 shares of the firm’s stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $76.44, for a total value of $305,760.00. Following the sale, the director now directly owns 28,700 shares of the company’s stock, valued at approximately $2,193,828. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,803 shares of company stock valued at $845,762. 9.88% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of HEI. Comerica Bank increased its stake in Heico by 27.3% during the first quarter. Comerica Bank now owns 3,337 shares of the aerospace company’s stock worth $307,000 after acquiring an additional 715 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Heico by 2.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 99,261 shares of the aerospace company’s stock worth $8,617,000 after acquiring an additional 1,910 shares during the last quarter. ETRADE Capital Management LLC increased its stake in Heico by 24.6% during the first quarter. ETRADE Capital Management LLC now owns 4,270 shares of the aerospace company’s stock worth $371,000 after acquiring an additional 843 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake in Heico by 24.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 10,397 shares of the aerospace company’s stock worth $903,000 after acquiring an additional 2,044 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in Heico by 26.7% during the first quarter. Thrivent Financial for Lutherans now owns 153,961 shares of the aerospace company’s stock worth $13,366,000 after acquiring an additional 32,405 shares during the last quarter. 26.93% of the stock is owned by institutional investors.

Shares of Heico stock opened at $93.00 on Friday. Heico has a one year low of $53.82 and a one year high of $94.12. The company has a market cap of $12.37 billion, a P/E ratio of 68.89, a P/E/G ratio of 4.09 and a beta of 0.78. The company has a current ratio of 2.86, a quick ratio of 1.32 and a debt-to-equity ratio of 0.44.

About Heico

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 for aerospace and industrial original equipment manufacturers, and the United States government.

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