Esterline Technologies Corp. (ESL) Releases FY17 Earnings Guidance
Esterline Technologies Corp. (NYSE:ESL) updated its FY17 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $4.50-4.90 for the period, compared to the Thomson Reuters consensus estimate of $5.27. The company issued revenue guidance of $2.0-2.05 billion, compared to the consensus revenue estimate of $2.01 billion.
ESL has been the topic of a number of recent research reports. Jefferies Group lifted their target price on Esterline Technologies Corp. to $92.00 in a research report on Friday. Zacks Investment Research raised Esterline Technologies Corp. from a hold rating to a buy rating and set a $85.00 target price on the stock in a research report on Wednesday, October 5th. Canaccord Genuity reaffirmed a hold rating and issued a $70.00 target price on shares of Esterline Technologies Corp. in a research report on Tuesday, November 8th. Finally, Drexel Hamilton raised Esterline Technologies Corp. from a hold rating to a buy rating and set a $86.00 target price on the stock in a research report on Monday, August 15th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Esterline Technologies Corp. has an average rating of Hold and an average target price of $81.17.
Esterline Technologies Corp. (NYSE:ESL) opened at 85.20 on Monday. The company’s 50-day moving average price is $74.00 and its 200-day moving average price is $69.44. The company has a market cap of $2.50 billion, a PE ratio of 52.72 and a beta of 1.33. Esterline Technologies Corp. has a 12-month low of $45.12 and a 12-month high of $96.44.
Esterline Technologies Corp. (NYSE:ESL) last released its quarterly earnings data on Thursday, November 10th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.60 by $0.36. The company had revenue of $543.80 million for the quarter, compared to analysts’ expectations of $522.13 million. Esterline Technologies Corp. had a net margin of 5.10% and a return on equity of 9.31%. The business’s revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.33 EPS. Equities analysts anticipate that Esterline Technologies Corp. will post $5.27 earnings per share for the current year.
In other news, EVP Albert S. Yost sold 10,800 shares of the stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $76.32, for a total transaction of $824,256.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. TFS Capital LLC boosted its position in Esterline Technologies Corp. by 185.1% in the second quarter. TFS Capital LLC now owns 18,755 shares of the company’s stock worth $1,164,000 after buying an additional 12,177 shares during the period. Janney Montgomery Scott LLC raised its stake in Esterline Technologies Corp. by 145.1% in the second quarter. Janney Montgomery Scott LLC now owns 16,472 shares of the company’s stock worth $1,022,000 after buying an additional 9,751 shares in the last quarter. Comerica Bank raised its stake in Esterline Technologies Corp. by 1.5% in the second quarter. Comerica Bank now owns 20,413 shares of the company’s stock worth $1,439,000 after buying an additional 305 shares in the last quarter. AXA acquired a new stake in Esterline Technologies Corp. during the second quarter worth $403,000. Finally, Alliancebernstein L.P. raised its stake in Esterline Technologies Corp. by 1,817.3% in the second quarter. Alliancebernstein L.P. now owns 1,046,515 shares of the company’s stock worth $64,926,000 after buying an additional 991,933 shares in the last quarter. 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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