Heico Corp (NYSE:HEI) Expected to Announce Quarterly Sales of $426.40 Million

Brokerages predict that Heico Corp (NYSE:HEI) will post $426.40 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Heico’s earnings. The lowest sales estimate is $404.51 million and the highest is $453.70 million. Heico posted sales of $541.53 million during the same quarter last year, which would indicate a negative year over year growth rate of 21.3%. The company is expected to issue its next quarterly earnings report on Monday, December 21st.

On average, analysts expect that Heico will report full-year sales of $1.79 billion for the current financial year, with estimates ranging from $1.77 billion to $1.81 billion. For the next financial year, analysts expect that the business will report sales of $1.84 billion, with estimates ranging from $1.71 billion to $1.90 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Heico.

Heico (NYSE:HEI) last issued its earnings results on Tuesday, August 25th. The aerospace company reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.10. The firm had revenue of $386.41 million during the quarter, compared to analysts’ expectations of $382.16 million. Heico had a net margin of 17.73% and a return on equity of 18.37%. The firm’s revenue for the quarter was down 27.4% compared to the same quarter last year. During the same period last year, the firm posted $0.59 earnings per share.

HEI has been the subject of a number of analyst reports. UBS Group increased their price target on Heico from $84.00 to $97.00 and gave the company a “neutral” rating in a research report on Thursday, August 27th. Zacks Investment Research lowered shares of Heico from a “hold” rating to a “strong sell” rating and set a $80.00 price target on the stock. in a research report on Tuesday, July 28th. SunTrust Banks reduced their price objective on shares of Heico from $95.00 to $90.00 and set a “hold” rating for the company in a research report on Wednesday, July 15th. Credit Suisse Group reissued a “buy” rating on shares of Heico in a research report on Wednesday, August 26th. Finally, Canaccord Genuity reaffirmed a “hold” rating and issued a $100.00 target price on shares of Heico in a report on Wednesday, August 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $101.89.

In other Heico news, Director Alan Schriesheim sold 2,000 shares of the firm’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $75.06, for a total transaction of $150,120.00. Following the completion of the sale, the director now directly owns 52,112 shares in the company, valued at approximately $3,911,526.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 14,000 shares of company stock worth $1,195,800 over the last three months. 8.56% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Gateway Investment Advisers LLC boosted its stake in shares of Heico by 0.3% in the 2nd quarter. Gateway Investment Advisers LLC now owns 58,527 shares of the aerospace company’s stock worth $5,832,000 after buying an additional 163 shares during the last quarter. Thoroughbred Financial Services LLC increased its stake in Heico by 5.8% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 3,241 shares of the aerospace company’s stock worth $323,000 after buying an additional 177 shares in the last quarter. Symmetry Partners LLC raised its holdings in Heico by 5.2% during the first quarter. Symmetry Partners LLC now owns 4,361 shares of the aerospace company’s stock valued at $325,000 after acquiring an additional 217 shares during the period. Stratos Wealth Partners LTD. raised its holdings in Heico by 0.7% during the second quarter. Stratos Wealth Partners LTD. now owns 38,088 shares of the aerospace company’s stock valued at $3,795,000 after acquiring an additional 263 shares during the period. Finally, Sigma Planning Corp lifted its position in shares of Heico by 9.7% in the second quarter. Sigma Planning Corp now owns 3,198 shares of the aerospace company’s stock valued at $319,000 after acquiring an additional 283 shares in the last quarter. Institutional investors and hedge funds own 26.69% of the company’s stock.

Shares of HEI stock traded up $0.76 during trading hours on Monday, reaching $105.42. The company had a trading volume of 273,138 shares, compared to its average volume of 675,474. The business has a fifty day simple moving average of $108.13 and a 200-day simple moving average of $95.58. Heico has a 12 month low of $52.01 and a 12 month high of $134.45. The company has a market cap of $14.23 billion, a price-to-earnings ratio of 42.85, a price-to-earnings-growth ratio of 6.11 and a beta of 1.10. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.97 and a quick ratio of 2.91.

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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