SunTrust Banks Comments on Wesco Aircraft Holdings Inc’s FY2019 Earnings (WAIR)

Wesco Aircraft Holdings Inc (NYSE:WAIR) – Investment analysts at SunTrust Banks boosted their FY2019 earnings per share (EPS) estimates for shares of Wesco Aircraft in a research note issued on Thursday, May 2nd. SunTrust Banks analyst M. Ciarmoli now anticipates that the aerospace company will post earnings of $0.84 per share for the year, up from their previous estimate of $0.78. SunTrust Banks also issued estimates for Wesco Aircraft’s Q4 2019 earnings at $0.24 EPS, Q2 2020 earnings at $0.29 EPS, Q3 2020 earnings at $0.30 EPS and Q4 2020 earnings at $0.33 EPS.

Wesco Aircraft (NYSE:WAIR) last released its quarterly earnings results on Thursday, May 2nd. The aerospace company reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.03. The company had revenue of $426.47 million during the quarter, compared to analyst estimates of $414.99 million. Wesco Aircraft had a return on equity of 11.30% and a net margin of 2.22%. The firm’s revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the business posted $0.22 earnings per share.

Several other research analysts have also issued reports on the company. ValuEngine upgraded Wesco Aircraft from a “sell” rating to a “hold” rating in a research report on Saturday. Cowen restated a “hold” rating and set a $9.00 target price on shares of Wesco Aircraft in a research report on Thursday, May 2nd. Finally, Zacks Investment Research lowered Wesco Aircraft from a “buy” rating to a “hold” rating in a research report on Thursday, April 18th.

WAIR opened at $10.33 on Monday. Wesco Aircraft has a 12 month low of $7.38 and a 12 month high of $14.23. The stock has a market capitalization of $1.05 billion, a P/E ratio of 13.77, a P/E/G ratio of 1.08 and a beta of 0.59. The company has a quick ratio of 1.07, a current ratio of 3.90 and a debt-to-equity ratio of 1.10.

Several large investors have recently made changes to their positions in WAIR. United Services Automobile Association raised its stake in shares of Wesco Aircraft by 10.7% during the fourth quarter. United Services Automobile Association now owns 16,559 shares of the aerospace company’s stock valued at $131,000 after acquiring an additional 1,599 shares in the last quarter. Teachers Advisors LLC raised its stake in shares of Wesco Aircraft by 0.6% during the third quarter. Teachers Advisors LLC now owns 283,229 shares of the aerospace company’s stock valued at $3,186,000 after acquiring an additional 1,792 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of Wesco Aircraft by 3.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 59,586 shares of the aerospace company’s stock valued at $524,000 after acquiring an additional 1,947 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of Wesco Aircraft by 24.0% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 22,151 shares of the aerospace company’s stock valued at $175,000 after acquiring an additional 4,282 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Wesco Aircraft by 4.7% during the third quarter. Wells Fargo & Company MN now owns 123,621 shares of the aerospace company’s stock valued at $1,391,000 after acquiring an additional 5,545 shares in the last quarter. Institutional investors and hedge funds own 89.80% of the company’s stock.

Wesco Aircraft Company Profile

Wesco Aircraft Holdings, Inc distributes aerospace products and provides supply chain management services to the aerospace industry in North America and internationally. Its services include distribution, supplier relationships management, quality assurance, kitting, just-in-time delivery, chemical management, third-party logistics or fourth-party logistics program, and point-of-use inventory management.

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Earnings History and Estimates for Wesco Aircraft (NYSE:WAIR)

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