HEICO (NYSE:HEI) Posts Earnings Results, Beats Estimates By $0.02 EPS

HEICO (NYSE:HEI) released its quarterly earnings data on Tuesday. The aerospace company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02, Zacks reports. HEICO had a return on equity of 14.51% and a net margin of 12.64%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the business earned $0.74 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis.

HEICO Stock Down 8.7 %

HEI stock opened at $237.24 on Thursday. HEICO has a 1-year low of $169.70 and a 1-year high of $283.60. The firm has a market capitalization of $32.88 billion, a PE ratio of 69.57, a PEG ratio of 3.14 and a beta of 1.24. The business’s 50 day simple moving average is $262.18 and its 200 day simple moving average is $247.74. The company has a current ratio of 3.30, a quick ratio of 1.47 and a debt-to-equity ratio of 0.63.

HEICO Announces Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Friday, January 17th. Investors of record on Friday, January 3rd will be issued a dividend of $0.11 per share. This represents a yield of 0.1%. The ex-dividend date is Friday, January 3rd. HEICO’s payout ratio is currently 6.45%.

Insider Activity

In other news, CEO Laurans A. Mendelson purchased 725 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was acquired at an average cost of $262.94 per share, with a total value of $190,631.50. Following the acquisition, the chief executive officer now owns 929,984 shares in the company, valued at approximately $244,529,992.96. This trade represents a 0.08 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alan Schriesheim sold 332 shares of HEICO stock in a transaction on Monday, October 7th. The stock was sold at an average price of $201.63, for a total value of $66,941.16. The disclosure for this sale can be found here. Insiders have purchased 2,175 shares of company stock valued at $571,895 over the last ninety days. 8.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have commented on HEI. Bank of America boosted their price target on shares of HEICO from $250.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Deutsche Bank Aktiengesellschaft upped their price objective on HEICO from $235.00 to $271.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Robert W. Baird lifted their price target on shares of HEICO from $243.00 to $280.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. Royal Bank of Canada boosted their price objective on HEICO from $250.00 to $272.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. Finally, Benchmark restated a “buy” rating and set a $245.00 target price on shares of HEICO in a report on Tuesday, August 27th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $270.70.

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. Its Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components.