Zacks: Analysts Anticipate Esterline (ESL) to Announce $0.74 Earnings Per Share

Equities analysts predict that Esterline (NYSE:ESL) will post earnings of $0.74 per share for the current quarter, according to Zacks. Four analysts have made estimates for Esterline’s earnings. The highest EPS estimate is $0.83 and the lowest is $0.69. Esterline reported earnings of $1.20 per share in the same quarter last year, which indicates a negative year over year growth rate of 38.3%. The business is expected to announce its next quarterly earnings report after the market closes on Thursday, May 3rd.

On average, analysts expect that Esterline will report full year earnings of $3.81 per share for the current financial year, with EPS estimates ranging from $3.75 to $3.85. For the next fiscal year, analysts anticipate that the business will post earnings of $4.81 per share, with EPS estimates ranging from $4.40 to $5.02. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Esterline.

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Esterline (NYSE:ESL) last released its earnings results on Thursday, February 1st. The aerospace company reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.02. The company had revenue of $482.30 million for the quarter, compared to analysts’ expectations of $459.38 million. Esterline had a return on equity of 6.91% and a net margin of 3.31%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.82 EPS.

Several equities research analysts have recently commented on the company. ValuEngine raised Esterline from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Credit Suisse Group upped their target price on Esterline from $70.00 to $72.00 and gave the company an “underperform” rating in a research note on Monday, February 5th. Barclays began coverage on Esterline in a research note on Thursday, March 29th. They issued an “underweight” rating and a $76.00 target price on the stock. Jefferies Group reaffirmed a “hold” rating and issued a $83.00 target price on shares of Esterline in a research note on Monday, January 8th. Finally, Bank of America upped their target price on Esterline from $70.00 to $75.00 and gave the company an “underperform” rating in a research note on Tuesday, February 6th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $79.56.

Several hedge funds have recently added to or reduced their stakes in the company. LSV Asset Management acquired a new stake in Esterline in the 4th quarter valued at $112,000. Dowling & Yahnke LLC acquired a new stake in Esterline in the 4th quarter valued at $217,000. ING Groep NV increased its holdings in Esterline by 23.2% in the 4th quarter. ING Groep NV now owns 3,981 shares of the aerospace company’s stock valued at $297,000 after purchasing an additional 750 shares in the last quarter. Parametrica Management Ltd acquired a new stake in Esterline in the 4th quarter valued at $299,000. Finally, Teton Advisors Inc. acquired a new stake in Esterline in the 4th quarter valued at $331,000. Institutional investors and hedge funds own 95.12% of the company’s stock.

Shares of NYSE:ESL remained flat at $$76.25 during trading on Thursday. The stock had a trading volume of 116,199 shares, compared to its average volume of 232,419. The stock has a market cap of $2,246.96, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 1.65 and a beta of 1.23. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.43 and a quick ratio of 2.09. Esterline has a fifty-two week low of $67.15 and a fifty-two week high of $102.70.

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About Esterline

Esterline Technologies Corporation designs, manufactures, and markets engineered products and systems primarily for aerospace and defense customers in the United States and internationally. It operates through three segments: Avionics & Controls, Sensors & Systems, and Advanced Materials. The Avionics & Controls segment offers global positioning systems, head-up displays, enhanced vision systems, and electronic flight management systems for control and display applications; lighted push-button and rotary switches, keyboards, lighted indicators, panels, and displays; and control sticks, grips, wheels, and switching systems.

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Earnings History and Estimates for Esterline (NYSE:ESL)

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