$0.57 Earnings Per Share Expected for Heico Corp (HEI) This Quarter
Equities analysts forecast that Heico Corp (NYSE:HEI) will report earnings of $0.57 per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Heico’s earnings, with the lowest EPS estimate coming in at $0.56 and the highest estimate coming in at $0.59. Heico posted earnings per share of $0.52 during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.6%. The company is expected to issue its next earnings results after the market closes on Monday, December 18th.
On average, analysts expect that Heico will report full year earnings of $2.10 per share for the current fiscal year, with EPS estimates ranging from $2.09 to $2.11. For the next year, analysts anticipate that the business will report earnings of $2.37 per share, with EPS estimates ranging from $2.25 to $2.50. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Heico.
HEI has been the subject of a number of research analyst reports. Zacks Investment Research downgraded Heico from a “buy” rating to a “hold” rating in a research report on Saturday, September 9th. Jefferies Group restated a “hold” rating and issued a $89.00 target price (up from $75.00) on shares of Heico in a research report on Thursday, August 24th. Deutsche Bank downgraded Heico from a “buy” rating to a “hold” rating and increased their price objective for the company from $80.00 to $86.00 in a research report on Wednesday, August 16th. BidaskClub downgraded Heico from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 18th. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $98.00 price objective (up previously from $85.00) on shares of Heico in a research report on Tuesday, August 29th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $92.78.
In other Heico news, VP Thomas S. Irwin sold 20,000 shares of the stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $76.28, for a total transaction of $1,525,600.00. Following the transaction, the vice president now directly owns 31,110 shares of the company’s stock, valued at $2,373,070.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark H. Hildebrandt bought 1,316 shares of Heico stock in a transaction that occurred on Thursday, October 5th. The stock was bought at an average price of $76.13 per share, with a total value of $100,187.08. The disclosure for this purchase can be found here. Corporate insiders own 9.76% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP raised its position in Heico by 42.7% in the second quarter. First Trust Advisors LP now owns 419,333 shares of the aerospace company’s stock worth $30,125,000 after purchasing an additional 125,544 shares in the last quarter. Artemis Investment Management LLP acquired a new position in Heico in the second quarter worth about $7,379,000. Artisan Partners Limited Partnership raised its position in Heico by 54.9% in the second quarter. Artisan Partners Limited Partnership now owns 283,149 shares of the aerospace company’s stock worth $20,341,000 after purchasing an additional 100,315 shares in the last quarter. Fred Alger Management Inc. raised its position in Heico by 23.7% in the second quarter. Fred Alger Management Inc. now owns 380,992 shares of the aerospace company’s stock worth $27,370,000 after purchasing an additional 72,901 shares in the last quarter. Finally, Tygh Capital Management Inc. raised its position in Heico by 72.8% in the second quarter. Tygh Capital Management Inc. now owns 110,793 shares of the aerospace company’s stock worth $7,959,000 after purchasing an additional 46,665 shares in the last quarter. Institutional investors and hedge funds own 26.98% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This article was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this article on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark laws. The legal version of this article can be accessed at https://www.thecerbatgem.com/2017/12/12/0-57-earnings-per-share-expected-for-heico-corp-hei-this-quarter.html.
HEICO Corporation manufactures Federal Aviation Administration (FAA)-approved jet engine and aircraft component replacement parts, other than the original equipment manufacturers (OEMs) and their subcontractors. The Company also manufactures various types of electronic equipment for the aviation, medical, telecommunications and electronics industries.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Stock Ratings for Heico Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Heico Corp and related stocks with our FREE daily email newsletter.