Analysts predict that FLIR Systems, Inc. (NASDAQ:FLIR) will report sales of $502.81 million for the current fiscal quarter, Zacks reports. Six analysts have made estimates for FLIR Systems’ earnings, with the lowest sales estimate coming in at $492.00 million and the highest estimate coming in at $521.62 million. FLIR Systems reported sales of $474.74 million in the same quarter last year, which indicates a positive year over year growth rate of 5.9%. The company is expected to announce its next quarterly earnings report on Tuesday, February 13th.
On average, analysts expect that FLIR Systems will report full-year sales of $502.81 million for the current year, with estimates ranging from $1.79 billion to $1.83 billion. For the next financial year, analysts expect that the firm will report sales of $1.92 billion per share, with estimates ranging from $1.86 billion to $1.95 billion. Zacks’ sales calculations are an average based on a survey of analysts that cover FLIR Systems.
FLIR Systems (NASDAQ:FLIR) last posted its quarterly earnings results on Wednesday, October 25th. The scientific and technical instruments company reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.04. The business had revenue of $464.70 million during the quarter, compared to analysts’ expectations of $446.06 million. FLIR Systems had a net margin of 12.30% and a return on equity of 14.30%. The business’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the company posted $0.48 earnings per share.
FLIR has been the subject of a number of research analyst reports. Needham & Company LLC raised their price target on shares of FLIR Systems from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, September 6th. Zacks Investment Research raised shares of FLIR Systems from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a report on Thursday, July 27th. Robert W. Baird reaffirmed a “hold” rating and issued a $34.00 price target on shares of FLIR Systems in a report on Tuesday, October 24th. SunTrust Banks, Inc. raised their price target on shares of FLIR Systems from $37.00 to $43.00 and gave the stock a “hold” rating in a report on Thursday, October 26th. Finally, BidaskClub cut shares of FLIR Systems from a “hold” rating to a “sell” rating in a report on Monday, July 31st. One analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $46.33.
FLIR Systems (FLIR) traded down $0.95 during midday trading on Friday, hitting $46.53. 1,410,000 shares of the company’s stock were exchanged, compared to its average volume of 1,215,667. The stock has a market capitalization of $6,447.85, a PE ratio of 25.57 and a beta of 0.63. FLIR Systems has a fifty-two week low of $33.75 and a fifty-two week high of $48.06. The company has a current ratio of 3.48, a quick ratio of 2.36 and a debt-to-equity ratio of 0.22.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 24th will be issued a dividend of $0.15 per share. The ex-dividend date is Wednesday, November 22nd. This represents a $0.60 annualized dividend and a dividend yield of 1.29%. FLIR Systems’s dividend payout ratio (DPR) is presently 37.74%.
In related news, COO Thomas A. Surran sold 261,320 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $38.25, for a total transaction of $9,995,490.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brian E. Harding sold 1,836 shares of the firm’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $46.90, for a total transaction of $86,108.40. Following the transaction, the vice president now directly owns 6,646 shares of the company’s stock, valued at approximately $311,697.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 283,356 shares of company stock valued at $11,034,806. 3.00% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. Commonwealth Bank of Australia raised its holdings in shares of FLIR Systems by 14.0% during the second quarter. Commonwealth Bank of Australia now owns 3,250 shares of the scientific and technical instruments company’s stock worth $111,000 after purchasing an additional 400 shares during the last quarter. Acrospire Investment Management LLC purchased a new position in FLIR Systems in the second quarter valued at $116,000. Sei Investments Co. increased its holdings in FLIR Systems by 76.3% in the third quarter. Sei Investments Co. now owns 4,507 shares of the scientific and technical instruments company’s stock valued at $175,000 after buying an additional 1,951 shares in the last quarter. ETF Managers Group LLC purchased a new position in FLIR Systems in the second quarter valued at $171,000. Finally, Skandinaviska Enskilda Banken AB publ purchased a new position in FLIR Systems in the third quarter valued at $211,000. 89.74% of the stock is owned by hedge funds and other institutional investors.
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About FLIR Systems
FLIR Systems, Inc (FLIR) designs, develops, markets and distributes thermal imaging systems, visible-light imaging systems, locater systems, measurement and diagnostic systems and threat-detection solutions. The Company’s segments include Surveillance, Instruments, Security, OEM & Emerging Markets, Maritime and Detection.
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