Esterline Technologies Corp. Forecasted to Earn Q3 2017 Earnings of $1.53 Per Share (ESL)
Esterline Technologies Corp. (NYSE:ESL) – Jefferies Group upped their Q3 2017 EPS estimates for Esterline Technologies Corp. in a note issued to investors on Thursday. Jefferies Group analyst H. Rubel now anticipates that the brokerage will post earnings of $1.53 per share for the quarter, up from their previous estimate of $1.47. Jefferies Group has a “Buy” rating and a $92.00 price objective on the stock.
Esterline Technologies Corp. (NYSE:ESL) last posted its quarterly earnings data on Thursday, November 10th. The company reported $1.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.60 by $0.36. The firm earned $543.80 million during 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 9.23%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter last year, the company posted $1.33 EPS.
A number of other equities analysts have also recently issued reports on ESL. Zacks Investment Research cut shares of Esterline Technologies Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 19th. Drexel Hamilton raised shares of Esterline Technologies Corp. from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research report on Monday, August 15th. Finally, Canaccord Genuity reissued a “hold” rating and issued a $70.00 price objective on shares of Esterline Technologies Corp. in a research report on Tuesday, November 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Esterline Technologies Corp. has an average rating of “Hold” and an average target price of $81.17.
Esterline Technologies Corp. (NYSE:ESL) opened at 84.20 on Monday. The company’s 50 day moving average is $74.00 and its 200-day moving average is $69.44. Esterline Technologies Corp. has a 52-week low of $45.12 and a 52-week high of $96.44. The stock has a market cap of $2.48 billion, a PE ratio of 24.64 and a beta of 1.33.
In related news, EVP Albert S. Yost sold 10,800 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $76.32, for a total value of $824,256.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Rice Hall James & Associates LLC increased its stake in Esterline Technologies Corp. by 1.5% in the second quarter. Rice Hall James & Associates LLC now owns 47,830 shares of the company’s stock worth $2,967,000 after buying an additional 705 shares during the last quarter. Strs Ohio increased its stake in Esterline Technologies Corp. by 344.4% in the second quarter. Strs Ohio now owns 12,000 shares of the company’s stock worth $744,000 after buying an additional 9,300 shares during the last quarter. Bank of Montreal Can bought a new stake in Esterline Technologies Corp. during the second quarter worth about $117,000. 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. Finally, BNP Paribas Arbitrage SA increased its stake in Esterline Technologies Corp. by 1,144.8% in the second quarter. BNP Paribas Arbitrage SA now owns 14,253 shares of the company’s stock worth $884,000 after buying an additional 13,108 shares during the last quarter. Hedge funds and other institutional investors own 88.19% of the company’s stock.
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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