Zacks: Analysts Expect Esterline Technologies Corporation (ESL) Will Post Quarterly Sales of $548.35 Million
Equities research analysts expect that Esterline Technologies Corporation (NYSE:ESL) will report sales of $548.35 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Esterline Technologies Corporation’s earnings. The highest sales estimate is $555.00 million and the lowest is $541.30 million. Esterline Technologies Corporation posted sales of $543.75 million in the same quarter last year, which would indicate a positive year over year growth rate of 0.8%. The firm is expected to announce its next earnings report on Thursday, November 9th.
According to Zacks, analysts expect that Esterline Technologies Corporation will report full-year sales of $548.35 million for the current year, with estimates ranging from $2.01 billion to $2.03 billion. For the next fiscal year, analysts expect that the business will report sales of $2.08 billion per share, with estimates ranging from $2.07 billion to $2.09 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Esterline Technologies Corporation.
Esterline Technologies Corporation (NYSE:ESL) last issued its quarterly earnings results on Thursday, August 3rd. The aerospace company reported $1.08 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.22). The company had revenue of $503.80 million during the quarter, compared to analysts’ expectations of $522.38 million. Esterline Technologies Corporation had a return on equity of 9.18% and a net margin of 6.65%. Esterline Technologies Corporation’s revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.38 EPS.
A number of equities research analysts have commented on ESL shares. BidaskClub downgraded Esterline Technologies Corporation from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Jefferies Group LLC reissued a “hold” rating and issued a $92.00 target price on shares of Esterline Technologies Corporation in a report on Tuesday, July 25th. Credit Suisse Group downgraded Esterline Technologies Corporation from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $106.00 to $100.00 in a report on Friday, August 4th. Canaccord Genuity raised their target price on Esterline Technologies Corporation from $90.00 to $92.00 and gave the company a “hold” rating in a report on Friday, August 4th. Finally, Seaport Global Securities started coverage on Esterline Technologies Corporation in a report on Tuesday, September 12th. They issued a “neutral” rating and a $93.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $92.67.
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In other news, major shareholder Hawkeye Fund Fpa sold 7,621 shares of Esterline Technologies Corporation stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $91.04, for a total transaction of $693,815.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC acquired a new position in shares of Esterline Technologies Corporation during the 2nd quarter worth $26,478,000. Phocas Financial Corp. raised its stake in shares of Esterline Technologies Corporation by 4.7% during the 2nd quarter. Phocas Financial Corp. now owns 120,744 shares of the aerospace company’s stock worth $11,447,000 after buying an additional 5,382 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Esterline Technologies Corporation during the 2nd quarter worth $285,000. WINTON GROUP Ltd raised its stake in shares of Esterline Technologies Corporation by 122.2% during the 2nd quarter. WINTON GROUP Ltd now owns 77,719 shares of the aerospace company’s stock worth $7,368,000 after buying an additional 42,742 shares during the last quarter. Finally, 1st Global Advisors Inc. acquired a new position in shares of Esterline Technologies Corporation during the 2nd quarter worth $736,000. 92.18% of the stock is owned by institutional investors and hedge funds.
Shares of Esterline Technologies Corporation (ESL) traded down 0.11% during midday trading on Monday, reaching $93.50. 186,191 shares of the company traded hands. The stock’s 50-day moving average is $86.91 and its 200-day moving average is $91.12. Esterline Technologies Corporation has a 1-year low of $69.85 and a 1-year high of $102.70. The stock has a market capitalization of $2.80 billion, a P/E ratio of 20.83 and a beta of 1.49.
About Esterline Technologies Corporation
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. The Company operates through three segments: Avionics & Controls, Sensors & Systems, and Advanced Materials.
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