Zacks: Brokerages Anticipate Esterline (ESL) to Announce $0.74 EPS

Equities research analysts expect Esterline (NYSE:ESL) to announce earnings per share (EPS) of $0.74 for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Esterline’s earnings, with the highest EPS estimate coming in at $0.83 and the lowest estimate coming in at $0.69. Esterline posted earnings per share of $1.20 during the same quarter last year, which indicates a negative year over year growth rate of 38.3%. The firm is scheduled to issue its next earnings results after the market closes on Thursday, May 3rd.

According to Zacks, analysts expect that Esterline will report full-year earnings of $3.81 per share for the current financial year, with EPS estimates ranging from $3.75 to $3.85. For the next fiscal year, analysts expect that the firm will report earnings of $4.81 per share, with EPS estimates ranging from $4.40 to $5.02. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow Esterline.

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Esterline (NYSE:ESL) last posted its quarterly earnings data on Thursday, February 1st. The aerospace company reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.02. The business had revenue of $482.30 million during the quarter, compared to the consensus estimate of $459.38 million. Esterline had a net margin of 3.31% and a return on equity of 6.91%. Esterline’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.82 EPS.

Several analysts recently issued reports on ESL shares. Zacks Investment Research raised shares of Esterline from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a report on Monday, April 2nd. Credit Suisse Group downgraded shares of Esterline from a “neutral” rating to an “underperform” rating in a report on Friday, January 12th. SunTrust Banks reaffirmed a “hold” rating and set a $82.00 price objective on shares of Esterline in a report on Tuesday, January 9th. Bank of America upped their price objective on shares of Esterline from $70.00 to $75.00 and gave the stock an “underperform” rating in a report on Tuesday, February 6th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $83.00 price objective on shares of Esterline in a report on Monday, January 8th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $79.56.

Institutional investors have recently modified their holdings of the business. LSV Asset Management bought a new stake in Esterline in the 4th quarter valued at $112,000. Dowling & Yahnke LLC bought a new stake in Esterline in the 4th quarter valued at $217,000. ING Groep NV boosted its holdings in Esterline by 23.2% in the 4th quarter. ING Groep NV now owns 3,981 shares of the aerospace company’s stock valued at $297,000 after purchasing an additional 750 shares during the period. Parametrica Management Ltd bought a new stake in Esterline in the 4th quarter valued at $299,000. Finally, Teton Advisors Inc. bought a new stake in Esterline in the 4th quarter valued at $331,000. 95.12% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE ESL traded up $0.40 during trading hours on Thursday, hitting $75.25. 67,028 shares of the stock were exchanged, compared to its average volume of 235,237. The company has a current ratio of 3.43, a quick ratio of 2.09 and a debt-to-equity ratio of 0.44. The company has a market cap of $2,157.80, a P/E ratio of 17.17, a P/E/G ratio of 1.58 and a beta of 1.23. Esterline has a one year low of $67.15 and a one year high of $102.70.

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About Esterline

Esterline Technologies Corporation designs, manufactures, and markets engineered products and systems primarily for aerospace and defense customers in the United States and internationally. It operates through three segments: Avionics & Controls, Sensors & Systems, and Advanced Materials. The Avionics & Controls segment offers global positioning systems, head-up displays, enhanced vision systems, and electronic flight management systems for control and display applications; lighted push-button and rotary switches, keyboards, lighted indicators, panels, and displays; and control sticks, grips, wheels, and switching systems.

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