Zacks: Analysts Anticipate Heico Corp (HEI) Will Announce Quarterly Sales of $422.55 Million

Equities research analysts expect Heico Corp (NYSE:HEI) to report sales of $422.55 million for the current quarter, Zacks reports. Three analysts have made estimates for Heico’s earnings. The lowest sales estimate is $411.00 million and the highest is $437.80 million. Heico reported sales of $368.66 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 14.6%. The business is expected to issue its next earnings results on Tuesday, May 22nd.

According to Zacks, analysts expect that Heico will report full-year sales of $1.74 billion for the current year, with estimates ranging from $1.72 billion to $1.75 billion. For the next fiscal year, analysts forecast that the company will report sales of $1.87 billion per share, with estimates ranging from $1.84 billion to $1.91 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Heico.

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Heico (NYSE:HEI) last issued its earnings results on Tuesday, February 27th. The aerospace company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.05). Heico had a net margin of 13.26% and a return on equity of 14.80%. The business had revenue of $404.41 million for the quarter, compared to analyst estimates of $394.23 million.

HEI has been the subject of a number of recent research reports. SunTrust Banks reissued a “buy” rating on shares of Heico in a research note on Thursday, March 1st. Canaccord Genuity boosted their price objective on shares of Heico from $88.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, March 1st. Jefferies Group upgraded shares of Heico from a “hold” rating to a “buy” rating in a report on Monday, January 8th. ValuEngine upgraded shares of Heico from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Finally, Stephens set a $84.00 price objective on shares of Heico and gave the stock a “hold” rating in a research report on Friday, January 19th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $85.96.

HEI stock traded up $1.26 during trading on Thursday, hitting $90.04. 188,374 shares of the stock traded hands, compared to its average volume of 326,976. Heico has a one year low of $54.05 and a one year high of $91.34. The company has a market capitalization of $9,287.15, a P/E ratio of 53.28, a P/E/G ratio of 3.23 and a beta of 0.71. The company has a quick ratio of 1.29, a current ratio of 2.89 and a debt-to-equity ratio of 0.50.

In other news, Director Alan Schriesheim sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 12th. The shares were sold at an average price of $87.83, for a total transaction of $175,660.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank J. Schwitter sold 2,500 shares of Heico stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $69.35, for a total transaction of $173,375.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,163 shares of company stock valued at $467,224. Company insiders own 9.88% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Benjamin F. Edwards & Company Inc. bought a new stake in shares of Heico during the 4th quarter worth $118,000. Captrust Financial Advisors purchased a new position in shares of Heico during the fourth quarter worth about $129,000. BB&T Securities LLC purchased a new position in shares of Heico during the fourth quarter worth about $205,000. AMP Capital Investors Ltd purchased a new stake in Heico in the fourth quarter worth approximately $236,000. Finally, Verity Asset Management Inc. boosted its stake in Heico by 25.2% in the fourth quarter. Verity Asset Management Inc. now owns 3,441 shares of the aerospace company’s stock worth $276,000 after buying an additional 693 shares in the last quarter. 22.50% of the stock is currently owned by hedge funds and other institutional investors.

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Heico Company Profile

HEICO Corporation manufactures Federal Aviation Administration (FAA)-approved jet engine and aircraft component replacement parts, other than the original equipment manufacturers (OEMs) and their subcontractors. The Company also manufactures various types of electronic equipment for the aviation, medical, telecommunications and electronics industries.

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Earnings History and Estimates for Heico (NYSE:HEI)

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