Heico (HEI) Announces Quarterly Earnings Results

Heico (NYSE:HEI) released its quarterly earnings data on Tuesday. The aerospace company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.11, Briefing.com reports. Heico had a net margin of 15.36% and a return on equity of 18.76%. The company had revenue of $515.60 million during the quarter, compared to the consensus estimate of $480.17 million. During the same period in the previous year, the firm earned $0.55 earnings per share. Heico’s revenue for the quarter was up 19.7% on a year-over-year basis. Heico updated its FY 2019 guidance to EPS.

HEI opened at $117.14 on Thursday. The company has a quick ratio of 1.66, a current ratio of 3.48 and a debt-to-equity ratio of 0.38. Heico has a 52-week low of $70.40 and a 52-week high of $107.45. The company has a market cap of $13.94 billion, a price-to-earnings ratio of 64.72, a price-to-earnings-growth ratio of 4.05 and a beta of 0.85.

Several equities research analysts have issued reports on HEI shares. Zacks Investment Research downgraded shares of Heico from a “buy” rating to a “hold” rating in a research note on Tuesday, February 12th. SunTrust Banks reiterated a “buy” rating and set a $100.00 price objective on shares of Heico in a research note on Wednesday, February 27th. Cowen started coverage on shares of Heico in a research note on Tuesday, March 5th. They set a “market perform” rating and a $95.00 price objective for the company. Robert W. Baird upgraded shares of Heico from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $95.00 to $125.00 in a research note on Thursday, May 23rd. Finally, Canaccord Genuity reiterated a “buy” rating and set a $110.00 price objective (up from $105.00) on shares of Heico in a research note on Monday, May 20th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Heico presently has a consensus rating of “Buy” and an average price target of $106.13.

In other news, Director Alan Schriesheim sold 8,000 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $85.86, for a total transaction of $686,880.00. Following the transaction, the director now directly owns 1,700 shares of the company’s stock, valued at $145,962. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Frank J. Schwitter sold 1,756 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $78.07, for a total transaction of $137,090.92. Following the transaction, the director now directly owns 1,313 shares in the company, valued at $102,505.91. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,756 shares of company stock worth $2,022,171. Corporate insiders own 9.23% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of HEI. Two Sigma Investments LP lifted its position in shares of Heico by 140.6% during the fourth quarter. Two Sigma Investments LP now owns 245,747 shares of the aerospace company’s stock worth $19,040,000 after purchasing an additional 143,602 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of Heico by 734.0% during the fourth quarter. Two Sigma Advisers LP now owns 86,909 shares of the aerospace company’s stock worth $6,734,000 after purchasing an additional 76,488 shares in the last quarter. Federated Investors Inc. PA lifted its position in shares of Heico by 7.8% during the first quarter. Federated Investors Inc. PA now owns 829,546 shares of the aerospace company’s stock worth $78,699,000 after purchasing an additional 59,748 shares in the last quarter. Nissay Asset Management Corp Japan ADV lifted its position in shares of Heico by 126.4% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 97,958 shares of the aerospace company’s stock worth $9,293,000 after purchasing an additional 54,696 shares in the last quarter. Finally, Nordea Investment Management AB acquired a new position in shares of Heico during the fourth quarter worth $4,030,000. 25.08% of the stock is currently owned by institutional investors and hedge funds.

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About Heico

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.

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Earnings History for Heico (NYSE:HEI)

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