Heico (HEI) Posts Earnings Results, Beats Estimates By $0.01 EPS

Heico (NYSE:HEI) posted its quarterly earnings data on Monday. The aerospace company reported $0.49 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.01, Briefing.com reports. The company had revenue of $477.00 million for the quarter, compared to analyst estimates of $462.91 million. Heico had a return on equity of 16.15% and a net margin of 14.26%. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.62 earnings per share. Heico updated its FY 2019 guidance to EPS.

Shares of HEI stock opened at $77.87 on Tuesday. The company has a market capitalization of $10.75 billion, a price-to-earnings ratio of 57.68, a price-to-earnings-growth ratio of 3.32 and a beta of 0.88. The company has a quick ratio of 1.32, a current ratio of 2.86 and a debt-to-equity ratio of 0.44. Heico has a fifty-two week low of $58.36 and a fifty-two week high of $94.12.

In other Heico news, Director Thomas M. Culligan bought 1,312 shares of the stock in a transaction on Tuesday, October 9th. The stock was acquired at an average cost of $88.21 per share, for a total transaction of $115,731.52. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Victor H. Mendelson bought 1,311 shares of the stock in a transaction on Tuesday, October 9th. The stock was acquired at an average price of $88.21 per share, with a total value of $115,643.31. The disclosure for this purchase can be found here. Insiders own 9.88% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Janney Montgomery Scott LLC lifted its holdings in Heico by 4.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 18,183 shares of the aerospace company’s stock worth $1,684,000 after buying an additional 691 shares during the period. BB&T Securities LLC grew its position in Heico by 28.9% during the 2nd quarter. BB&T Securities LLC now owns 3,575 shares of the aerospace company’s stock worth $260,000 after purchasing an additional 802 shares during the period. Cynosure Advisors LLC grew its position in Heico by 25.0% during the 2nd quarter. Cynosure Advisors LLC now owns 4,092 shares of the aerospace company’s stock worth $298,000 after purchasing an additional 818 shares during the period. Mark Sheptoff Financial Planning LLC grew its position in Heico by 24.9% during the 2nd quarter. Mark Sheptoff Financial Planning LLC now owns 4,840 shares of the aerospace company’s stock worth $353,000 after purchasing an additional 966 shares during the period. Finally, Creative Planning boosted its stake in shares of Heico by 15.3% during the 3rd quarter. Creative Planning now owns 7,661 shares of the aerospace company’s stock worth $709,000 after acquiring an additional 1,014 shares in the last quarter. Institutional investors and hedge funds own 31.26% of the company’s stock.

A number of research firms recently commented on HEI. Zacks Investment Research raised Heico from a “hold” rating to a “buy” rating and set a $93.00 price objective on the stock in a research note on Friday. ValuEngine raised Heico from a “hold” rating to a “buy” rating in a research note on Tuesday, August 28th. SunTrust Banks lifted their price objective on Heico from $76.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, August 21st. UBS Group lifted their price objective on Heico from $83.00 to $95.00 and gave the stock a “neutral” rating in a research note on Thursday, August 30th. Finally, Canaccord Genuity lifted their price objective on Heico from $84.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, August 29th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Heico presently has an average rating of “Buy” and an average target price of $89.23.

ILLEGAL ACTIVITY WARNING: “Heico (HEI) Posts Earnings Results, Beats Estimates By $0.01 EPS” was originally posted by WKRB News and is owned by of WKRB News. If you are viewing this report on another publication, it was stolen and republished in violation of U.S. and international trademark & copyright laws. The correct version of this report can be read at https://www.wkrb13.com/2018/12/18/heico-hei-posts-earnings-results-beats-estimates-by-0-01-eps.html.

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.

Further Reading: What is the Coverage Ratio?

Earnings History for Heico (NYSE:HEI)

Receive News & Ratings for Heico Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Heico and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply