Esterline Technologies Corp. (ESL) Announces Earnings Results
Esterline Technologies Corp. (NYSE:ESL) released its earnings results on Thursday. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.36. Esterline Technologies Corp. had a return on equity of 6.15% and a net margin of 2.40%. The company had revenue of $543.80 million for the quarter, compared to the consensus estimate of $522.13 million. During the same quarter last year, the business posted $1.33 EPS. Esterline Technologies Corp.’s quarterly revenue was down .3% compared to the same quarter last year. Esterline Technologies Corp. updated its FY17 guidance to $4.50-4.90 EPS.
Shares of Esterline Technologies Corp. (NYSE:ESL) opened at 78.95 on Friday. Esterline Technologies Corp. has a 52-week low of $45.12 and a 52-week high of $96.44. The firm has a market capitalization of $2.32 billion, a PE ratio of 48.86 and a beta of 1.33. The company has a 50-day moving average price of $73.75 and a 200 day moving average price of $69.31.
A number of analysts have recently weighed in on the company. Canaccord Genuity reiterated a “hold” rating and set a $70.00 price target on shares of Esterline Technologies Corp. in a research report on Tuesday. Zacks Investment Research cut Esterline Technologies Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, October 19th. Drexel Hamilton upgraded Esterline Technologies Corp. from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research report on Monday, August 15th. Finally, Jefferies Group reiterated a “buy” rating and set a $87.00 price target on shares of Esterline Technologies Corp. in a research report on Friday, August 5th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $80.33.
In related news, EVP Albert S. Yost sold 10,800 shares of Esterline Technologies Corp. stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $76.32, for a total transaction of $824,256.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.40% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in ESL. LS Investment Advisors LLC increased its stake in Esterline Technologies Corp. by 74.6% in the second quarter. LS Investment Advisors LLC now owns 1,814 shares of the company’s stock worth $113,000 after buying an additional 775 shares during the last quarter. Bank of Montreal Can bought a new stake in Esterline Technologies Corp. during the second quarter worth $117,000. Tower Research Capital LLC TRC bought a new stake in Esterline Technologies Corp. during the second quarter worth $127,000. Public Employees Retirement System of Ohio increased its stake in Esterline Technologies Corp. by 21.6% in the second quarter. Public Employees Retirement System of Ohio now owns 2,377 shares of the company’s stock worth $147,000 after buying an additional 423 shares during the last quarter. Finally, First New York Securities LLC NY bought a new stake in Esterline Technologies Corp. during the third quarter worth $152,000. 87.76% of the stock is currently owned by institutional investors.
Esterline Technologies Corp. Company Profile
Esterline Technologies Corporation is a specialized manufacturing company. The Company designs, manufactures and markets engineered products and systems for application within the industries it serves. It operates through three segments: Avionics & Controls, Sensors & Systems, and Advanced Materials.
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