Equities Analysts Issue Forecasts for Astronics Corporation’s Q4 2017 Earnings (ATRO)
Astronics Corporation (NASDAQ:ATRO) – Equities research analysts at SunTrust Banks issued their Q4 2017 earnings per share estimates for Astronics Corporation in a note issued to investors on Tuesday. SunTrust Banks analyst M. Ciarmoli expects that the aerospace company will post earnings per share of $0.50 for the quarter. SunTrust Banks has a “Hold” rating and a $35.00 price target on the stock. SunTrust Banks also issued estimates for Astronics Corporation’s FY2018 earnings at $1.96 EPS and FY2019 earnings at $2.16 EPS.
ATRO has been the topic of a number of other reports. BidaskClub cut Astronics Corporation from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Zacks Investment Research cut Astronics Corporation from a “hold” rating to a “strong sell” rating in a research report on Friday, August 4th. Canaccord Genuity reissued a “buy” rating and issued a $36.00 price target on shares of Astronics Corporation in a research report on Thursday, October 5th. Finally, Dougherty & Co boosted their price target on Astronics Corporation from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $37.25.
Shares of Astronics Corporation (NASDAQ:ATRO) opened at $38.22 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.30 and a quick ratio of 1.70. Astronics Corporation has a 12-month low of $23.95 and a 12-month high of $41.03. The company has a market capitalization of $1,096.95, a P/E ratio of 32.39, a PEG ratio of 1.89 and a beta of 1.04.
Astronics Corporation (NASDAQ:ATRO) last posted its earnings results on Tuesday, November 7th. The aerospace company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.14). Astronics Corporation had a return on equity of 10.24% and a net margin of 5.80%. The firm had revenue of $149.64 million for the quarter, compared to analysts’ expectations of $154.90 million. During the same quarter last year, the company posted $0.41 EPS. The firm’s revenue was down 3.5% on a year-over-year basis.
Several institutional investors and hedge funds have recently modified their holdings of ATRO. Legal & General Group Plc boosted its position in shares of Astronics Corporation by 12.0% in the 1st quarter. Legal & General Group Plc now owns 5,084 shares of the aerospace company’s stock worth $161,000 after purchasing an additional 543 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in Astronics Corporation by 26.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,999 shares of the aerospace company’s stock valued at $183,000 after acquiring an additional 1,254 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Astronics Corporation by 37.9% in the 1st quarter. JPMorgan Chase & Co. now owns 7,534 shares of the aerospace company’s stock valued at $239,000 after acquiring an additional 2,069 shares in the last quarter. Tudor Investment Corp ET AL bought a new position in Astronics Corporation in the 1st quarter valued at approximately $240,000. Finally, Marshall Wace North America L.P. bought a new position in Astronics Corporation in the 2nd quarter valued at approximately $294,000. 64.45% of the stock is currently owned by hedge funds and other institutional investors.
About Astronics Corporation
Astronics Corporation is a supplier of products to the aerospace, defense, electronics and semiconductor industries. The Company’s products and services include electrical power generation, distribution and motion systems, lighting and safety systems, avionics products, aircraft structures, systems certification and automated test systems.
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