Equities analysts expect that Esterline (NYSE:ESL) will report sales of $506.26 million for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Esterline’s earnings, with the lowest sales estimate coming in at $493.66 million and the highest estimate coming in at $523.80 million. Esterline reported sales of $503.75 million during the same quarter last year, which would suggest a positive year over year growth rate of 0.5%. The firm is scheduled to report its next earnings results on Thursday, August 2nd.
According to Zacks, analysts expect that Esterline will report full year sales of $2.04 billion for the current year, with estimates ranging from $2.01 billion to $2.07 billion. For the next fiscal year, analysts expect that the firm will report sales of $2.07 billion per share, with estimates ranging from $2.03 billion to $2.13 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Esterline.
Esterline (NYSE:ESL) last posted its quarterly earnings data on Thursday, May 3rd. The aerospace company reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.03. Esterline had a net margin of 2.74% and a return on equity of 6.08%. The company had revenue of $517.60 million during the quarter, compared to analyst estimates of $503.91 million. During the same quarter last year, the firm posted $1.20 EPS. The business’s revenue for the quarter was up 1.7% on a year-over-year basis.
ESL has been the topic of several recent research reports. Zacks Investment Research lowered shares of Esterline from a “buy” rating to a “hold” rating in a research report on Thursday, April 26th. Bank of America raised their price objective on shares of Esterline from $70.00 to $75.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 6th. Credit Suisse Group raised their price objective on shares of Esterline from $70.00 to $72.00 and gave the stock an “underperform” rating in a research note on Monday, February 5th. Finally, Barclays initiated coverage on shares of Esterline in a research note on Thursday, March 29th. They set an “underweight” rating and a $76.00 price target on the stock. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $79.78.
A number of institutional investors and hedge funds have recently bought and sold shares of ESL. LSV Asset Management bought a new position in shares of Esterline in the fourth quarter valued at about $112,000. Balter Liquid Alternatives LLC bought a new position in shares of Esterline in the first quarter valued at about $195,000. Dowling & Yahnke LLC bought a new position in shares of Esterline in the fourth quarter valued at about $217,000. Bayesian Capital Management LP bought a new position in shares of Esterline in the first quarter valued at about $291,000. Finally, ING Groep NV raised its holdings in shares of Esterline by 23.2% in the fourth quarter. ING Groep NV now owns 3,981 shares of the aerospace company’s stock valued at $297,000 after buying an additional 750 shares during the last quarter. Hedge funds and other institutional investors own 94.52% of the company’s stock.
Shares of Esterline traded up $1.65, hitting $78.45, during midday trading on Friday, according to Marketbeat. The stock had a trading volume of 170 shares, compared to its average volume of 223,852. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.29 and a quick ratio of 2.06. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 1.69 and a beta of 1.24. Esterline has a fifty-two week low of $67.15 and a fifty-two week high of $102.70.
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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