Wall Street brokerages expect that Astronics Co. (NASDAQ:ATRO) will report $175.62 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Astronics’ earnings. The lowest sales estimate is $173.23 million and the highest is $178.00 million. Astronics reported sales of $212.67 million during the same quarter last year, which indicates a negative year over year growth rate of 17.4%. The business is expected to announce its next earnings report on Monday, November 4th.
On average, analysts expect that Astronics will report full year sales of $745.31 million for the current fiscal year, with estimates ranging from $736.61 million to $754.00 million. For the next financial year, analysts forecast that the business will report sales of $773.76 million, with estimates ranging from $756.01 million to $791.50 million. Zacks’ sales averages are an average based on a survey of research analysts that follow Astronics.
Astronics (NASDAQ:ATRO) last issued its quarterly earnings data on Monday, August 5th. The aerospace company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.16). Astronics had a net margin of 14.07% and a return on equity of 12.24%. The business had revenue of $189.10 million for the quarter, compared to analysts’ expectations of $188.80 million. During the same quarter in the prior year, the company posted $0.49 EPS. The business’s revenue for the quarter was down 9.3% on a year-over-year basis.
In other Astronics news, VP Mark Peabody sold 2,000 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $35.78, for a total transaction of $71,560.00. Following the sale, the vice president now directly owns 9,761 shares of the company’s stock, valued at approximately $349,248.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David C. Burney sold 4,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $26.20, for a total value of $104,800.00. Following the sale, the chief financial officer now directly owns 33,434 shares in the company, valued at $875,970.80. The disclosure for this sale can be found here. Insiders sold a total of 15,000 shares of company stock valued at $538,810 in the last 90 days. 15.80% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE grew its holdings in Astronics by 12.3% during the fourth quarter. Bank of America Corp DE now owns 45,774 shares of the aerospace company’s stock worth $1,394,000 after buying an additional 5,004 shares in the last quarter. Legal & General Group Plc grew its holdings in Astronics by 23.7% during the fourth quarter. Legal & General Group Plc now owns 4,015 shares of the aerospace company’s stock worth $122,000 after buying an additional 770 shares in the last quarter. Virginia Retirement Systems ET AL grew its holdings in Astronics by 6.8% during the first quarter. Virginia Retirement Systems ET AL now owns 23,500 shares of the aerospace company’s stock worth $769,000 after buying an additional 1,500 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in Astronics by 136.0% during the first quarter. BNP Paribas Arbitrage SA now owns 7,530 shares of the aerospace company’s stock worth $246,000 after buying an additional 4,339 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in Astronics during the first quarter worth $705,000. 61.14% of the stock is currently owned by institutional investors.
Shares of ATRO traded down $0.10 during midday trading on Tuesday, hitting $27.68. 422,306 shares of the company’s stock traded hands, compared to its average volume of 371,952. Astronics has a 1 year low of $25.85 and a 1 year high of $45.73. The firm’s fifty day moving average is $34.02 and its 200-day moving average is $35.52. The company has a current ratio of 2.97, a quick ratio of 1.77 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $907.68 million, a price-to-earnings ratio of 19.63, a price-to-earnings-growth ratio of 1.94 and a beta of 1.36.
Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, electronics, and semiconductor industries worldwide. It operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems; electrical power generation, distribution, and motions systems; aircraft structures; avionics products; system certification; and connectivity and other products.
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