Heico Corp (HEI) Expected to Post Quarterly Sales of $441.11 Million

Wall Street brokerages expect Heico Corp (NYSE:HEI) to post $441.11 million in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Heico’s earnings. The highest sales estimate is $455.73 million and the lowest is $430.00 million. Heico posted sales of $391.50 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 12.7%. The firm is expected to report its next earnings results after the market closes on Monday, August 27th.

On average, analysts expect that Heico will report full year sales of $1.75 billion for the current financial year, with estimates ranging from $1.73 billion to $1.76 billion. For the next financial year, analysts anticipate that the business will post sales of $1.88 billion per share, with estimates ranging from $1.85 billion to $1.93 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Heico.

Heico (NYSE:HEI) last announced its earnings results on Tuesday, May 29th. The aerospace company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. Heico had a return on equity of 15.22% and a net margin of 13.60%. The company had revenue of $430.60 million during the quarter, compared to analysts’ expectations of $426.47 million. During the same period last year, the business posted $0.42 EPS. Heico’s revenue for the quarter was up 16.8% on a year-over-year basis.

Several equities analysts have recently issued reports on HEI shares. Zacks Investment Research upgraded Heico from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research note on Friday, July 20th. Canaccord Genuity decreased their price objective on Heico from $105.00 to $84.00 and set a “buy” rating for the company in a research note on Friday, June 29th. Robert W. Baird started coverage on Heico in a research note on Wednesday, August 8th. They issued a “neutral” rating and a $84.00 price objective for the company. ValuEngine cut Heico from a “buy” rating to a “hold” rating in a research note on Thursday, June 28th. Finally, UBS Group started coverage on Heico in a research note on Wednesday. They issued a “neutral” rating and a $83.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $74.43.

In other news, Director Alan Schriesheim sold 5,347 shares of the firm’s stock in a transaction dated Wednesday, July 11th. The stock was sold at an average price of $62.59, for a total transaction of $334,668.73. Following the sale, the director now owns 16,041 shares of the company’s stock, valued at approximately $1,004,006.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Laurans A. Mendelson sold 30,000 shares of the firm’s stock in a transaction dated Monday, June 4th. The stock was sold at an average price of $76.21, for a total value of $2,286,300.00. Following the sale, the chief executive officer now directly owns 740,910 shares in the company, valued at approximately $56,464,751.10. The disclosure for this sale can be found here. Insiders sold a total of 138,048 shares of company stock valued at $10,439,596 in the last quarter. Company insiders own 9.88% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Riverbridge Partners LLC raised its position in shares of Heico by 8.7% during the 2nd quarter. Riverbridge Partners LLC now owns 2,000,193 shares of the aerospace company’s stock worth $145,874,000 after acquiring an additional 159,440 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Heico by 23.2% during the 2nd quarter. Fisher Asset Management LLC now owns 1,666,535 shares of the aerospace company’s stock worth $121,540,000 after acquiring an additional 313,926 shares in the last quarter. Fred Alger Management Inc. raised its position in shares of Heico by 25.0% during the 2nd quarter. Fred Alger Management Inc. now owns 914,019 shares of the aerospace company’s stock worth $66,659,000 after acquiring an additional 183,080 shares in the last quarter. Brown Advisory Inc. raised its position in shares of Heico by 25.2% during the 1st quarter. Brown Advisory Inc. now owns 757,420 shares of the aerospace company’s stock worth $65,752,000 after acquiring an additional 152,499 shares in the last quarter. Finally, Chilton Investment Co. LLC raised its position in shares of Heico by 29.5% during the 2nd quarter. Chilton Investment Co. LLC now owns 603,108 shares of the aerospace company’s stock worth $43,985,000 after acquiring an additional 137,304 shares in the last quarter. 23.28% of the stock is currently owned by institutional investors and hedge funds.

Shares of HEI traded up $0.49 during midday trading on Friday, hitting $77.01. The company had a trading volume of 169,900 shares, compared to its average volume of 362,218. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.36 and a current ratio of 3.02. The stock has a market capitalization of $10.23 billion, a PE ratio of 57.04, a PEG ratio of 3.45 and a beta of 0.62. Heico has a 1 year low of $51.39 and a 1 year high of $78.58.

The business also recently disclosed a Semi-Annual dividend, which was paid on Thursday, July 19th. Stockholders of record on Wednesday, July 11th were paid a $0.06 dividend. The ex-dividend date was Tuesday, July 10th. Heico’s payout ratio is presently 8.89%.

Heico Company Profile

HEICO Corporation, through its subsidiaries, designs, manufactures, and sells aerospace, defense, and electronic related products and services in the United States and internationally. The company's Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components for aerospace and industrial original equipment manufacturers, and the United States government.

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Earnings History and Estimates for Heico (NYSE:HEI)

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