SunTrust Banks Weighs in on Esterline Technologies Co.’s FY2018 Earnings (ESL)

Esterline Technologies Co. (NYSE:ESL) – Equities research analysts at SunTrust Banks boosted their FY2018 earnings estimates for Esterline Technologies in a research note issued to investors on Monday. SunTrust Banks analyst M. Ciarmoli now expects that the aerospace company will post earnings of $4.04 per share for the year, up from their prior forecast of $3.79. SunTrust Banks currently has a “Hold” rating and a $82.00 target price on the stock. SunTrust Banks also issued estimates for Esterline Technologies’ FY2019 earnings at $5.50 EPS.

Esterline Technologies (NYSE:ESL) last issued its earnings results on Thursday, November 9th. The aerospace company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.26). Esterline Technologies had a return on equity of 7.68% and a net margin of 5.86%. The company had revenue of $531.50 million for the quarter, compared to analyst estimates of $540.55 million. During the same quarter in the previous year, the company posted $1.96 earnings per share. The company’s quarterly revenue was down 2.3% compared to the same quarter last year.

Several other research analysts have also weighed in on the stock. Credit Suisse Group restated a “neutral” rating and set a $70.00 target price (down from $100.00) on shares of Esterline Technologies in a research report on Tuesday, December 12th. ValuEngine upgraded shares of Esterline Technologies from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Canaccord Genuity restated a “hold” rating and set a $78.00 target price on shares of Esterline Technologies in a research report on Monday, November 27th. Drexel Hamilton lowered shares of Esterline Technologies from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Finally, Zacks Investment Research lowered shares of Esterline Technologies from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. Esterline Technologies has an average rating of “Hold” and a consensus price target of $80.17.

Shares of Esterline Technologies (NYSE:ESL) traded up $1.15 on Wednesday, reaching $77.40. 187,637 shares of the company’s stock traded hands, compared to its average volume of 230,017. The company has a quick ratio of 2.03, a current ratio of 3.25 and a debt-to-equity ratio of 0.41. Esterline Technologies has a one year low of $68.30 and a one year high of $102.70. The firm has a market capitalization of $2,270.00, a price-to-earnings ratio of 18.65, a P/E/G ratio of 1.61 and a beta of 1.43.

In related news, major shareholder J Richard Atwood sold 31,155 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $96.04, for a total transaction of $2,992,126.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Nils Larsen acquired 1,450 shares of Esterline Technologies stock in a transaction that occurred on Tuesday, November 14th. The shares were purchased at an average cost of $70.51 per share, for a total transaction of $102,239.50. Following the purchase, the director now directly owns 2,690 shares of the company’s stock, valued at approximately $189,671.90. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 6,800 shares of company stock worth $479,015 and sold 268,290 shares worth $25,452,666. 1.30% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its stake in Esterline Technologies by 13.9% during the second quarter. PNC Financial Services Group Inc. now owns 1,092 shares of the aerospace company’s stock worth $104,000 after purchasing an additional 133 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Esterline Technologies by 11.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,184 shares of the aerospace company’s stock worth $112,000 after purchasing an additional 120 shares during the period. Flinton Capital Management LLC raised its stake in Esterline Technologies by 57.4% during the second quarter. Flinton Capital Management LLC now owns 1,360 shares of the aerospace company’s stock worth $129,000 after purchasing an additional 496 shares during the period. Pacad Investment Ltd. raised its stake in Esterline Technologies by 100.0% during the second quarter. Pacad Investment Ltd. now owns 1,800 shares of the aerospace company’s stock worth $171,000 after purchasing an additional 900 shares during the period. Finally, Riverhead Capital Management LLC raised its stake in Esterline Technologies by 61.8% during the second quarter. Riverhead Capital Management LLC now owns 2,265 shares of the aerospace company’s stock worth $215,000 after purchasing an additional 865 shares during the period. 92.00% of the stock is currently owned by institutional investors and hedge funds.

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Esterline Technologies Company Profile

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.

Earnings History and Estimates for Esterline Technologies (NYSE:ESL)

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