Wesco Aircraft Holdings Inc (WAIR) Expected to Earn FY2018 Earnings of $0.74 Per Share
Wesco Aircraft Holdings Inc (NYSE:WAIR) – Analysts at SunTrust Banks increased their FY2018 earnings per share estimates for Wesco Aircraft in a research note issued on Thursday. SunTrust Banks analyst M. Ciarmoli now forecasts that the aerospace company will post earnings of $0.74 per share for the year, up from their prior estimate of $0.68. SunTrust Banks also issued estimates for Wesco Aircraft’s Q4 2018 earnings at $0.24 EPS, Q1 2019 earnings at $0.23 EPS, Q2 2019 earnings at $0.25 EPS, Q3 2019 earnings at $0.25 EPS, Q4 2019 earnings at $0.27 EPS and FY2019 earnings at $1.00 EPS.
A number of other research analysts have also recently commented on WAIR. Zacks Investment Research upgraded shares of Wesco Aircraft from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Thursday, October 19th. BidaskClub cut shares of Wesco Aircraft from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 31st. Cowen restated a “hold” rating and set a $7.00 price target on shares of Wesco Aircraft in a research note on Wednesday, November 29th. Deutsche Bank upgraded shares of Wesco Aircraft from a “sell” rating to a “hold” rating and set a $7.50 price target for the company in a research note on Thursday, November 30th. Finally, ValuEngine upgraded shares of Wesco Aircraft from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 1st. Seven equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $9.30.
Wesco Aircraft (NYSE:WAIR) last announced its quarterly earnings results on Thursday, February 8th. The aerospace company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). The business had revenue of $363.10 million for the quarter, compared to the consensus estimate of $346.96 million. Wesco Aircraft had a positive return on equity of 7.17% and a negative net margin of 17.26%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.19 EPS.
Large investors have recently bought and sold shares of the company. Frontier Capital Management Co. LLC raised its stake in shares of Wesco Aircraft by 9.4% in the third quarter. Frontier Capital Management Co. LLC now owns 6,088,113 shares of the aerospace company’s stock valued at $57,228,000 after acquiring an additional 522,991 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Wesco Aircraft by 0.4% in the second quarter. Vanguard Group Inc. now owns 4,534,638 shares of the aerospace company’s stock valued at $49,201,000 after acquiring an additional 19,114 shares during the last quarter. Northern Trust Corp raised its stake in shares of Wesco Aircraft by 79.5% in the second quarter. Northern Trust Corp now owns 1,308,517 shares of the aerospace company’s stock valued at $14,198,000 after acquiring an additional 579,446 shares during the last quarter. Makaira Partners LLC increased its holdings in shares of Wesco Aircraft by 5.4% in the third quarter. Makaira Partners LLC now owns 10,173,818 shares of the aerospace company’s stock valued at $95,634,000 after purchasing an additional 523,880 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of Wesco Aircraft by 12.6% in the third quarter. Russell Investments Group Ltd. now owns 512,436 shares of the aerospace company’s stock valued at $4,817,000 after purchasing an additional 57,300 shares in the last quarter. Institutional investors own 93.93% of the company’s stock.
In other news, EVP Declan O. Grant bought 7,170 shares of the business’s stock in a transaction dated Monday, December 11th. The stock was bought at an average price of $6.94 per share, for a total transaction of $49,759.80. Following the completion of the purchase, the executive vice president now owns 70,760 shares of the company’s stock, valued at approximately $491,074.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 11.90% of the company’s stock.
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About Wesco Aircraft
Wesco Aircraft Holdings, Inc is a distributor and provider of supply chain management services to the global aerospace industry. The Company operates through two segments: North America and Rest of World. As of September 30, 2016, the Company supplied over 565,000 active stock-keeping units (SKUs), including C-class hardware, chemicals, electronic components, bearings, tools and machined parts.
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