Equities research analysts expect Esterline Technologies Co. (NYSE:ESL) to report sales of $463.73 million for the current quarter, according to Zacks. Four analysts have issued estimates for Esterline Technologies’ earnings, with estimates ranging from $457.00 million to $472.00 million. Esterline Technologies reported sales of $457.73 million during the same quarter last year, which would suggest a positive year over year growth rate of 1.3%. The company is expected to report its next quarterly earnings report after the market closes on Thursday, February 1st.
On average, analysts expect that Esterline Technologies will report full year sales of $463.73 million for the current fiscal year, with estimates ranging from $2.04 billion to $2.05 billion. For the next year, analysts expect that the firm will report sales of $2.12 billion per share, with estimates ranging from $2.10 billion to $2.15 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Esterline Technologies.
Esterline Technologies (NYSE:ESL) last posted its quarterly earnings results on Thursday, November 9th. The aerospace company reported $1.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.53 by ($0.26). The business had revenue of $531.50 million for the quarter, compared to the consensus estimate of $540.55 million. Esterline Technologies had a return on equity of 7.68% and a net margin of 5.86%. The company’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the firm earned $1.96 earnings per share.
Several brokerages have commented on ESL. Credit Suisse Group downgraded shares of Esterline Technologies from a “neutral” rating to an “underperform” rating in a research note on Friday, January 12th. Zacks Investment Research raised shares of Esterline Technologies from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 10th. SunTrust Banks reaffirmed a “hold” rating and issued a $82.00 target price on shares of Esterline Technologies in a research note on Tuesday, January 9th. Jefferies Group reaffirmed a “hold” rating and issued a $83.00 target price on shares of Esterline Technologies in a research note on Monday, January 8th. Finally, ValuEngine raised shares of Esterline Technologies from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. Esterline Technologies presently has an average rating of “Hold” and an average target price of $80.17.
Shares of Esterline Technologies (ESL) traded down $1.20 during trading hours on Friday, reaching $74.15. 270,200 shares of the company’s stock traded hands, compared to its average volume of 250,958. Esterline Technologies has a 1 year low of $68.30 and a 1 year high of $102.70. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.25 and a quick ratio of 2.03. The company has a market capitalization of $2,239.53, a P/E ratio of 19.01, a PEG ratio of 1.61 and a beta of 1.43.
In other news, major shareholder Hawkeye Fund Fpa sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $75.63, for a total value of $453,780.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Delores M. Etter purchased 1,000 shares of Esterline Technologies stock in a transaction dated Thursday, December 14th. The stock was bought at an average price of $72.13 per share, with a total value of $72,130.00. Following the acquisition, the director now directly owns 13,627 shares of the company’s stock, valued at $982,915.51. The disclosure for this purchase can be found here. In the last quarter, insiders bought 6,800 shares of company stock valued at $479,015 and sold 268,290 shares valued at $25,452,666. 1.40% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Retirement Systems of Alabama boosted its holdings in shares of Esterline Technologies by 125.2% in the third quarter. Retirement Systems of Alabama now owns 86,456 shares of the aerospace company’s stock valued at $7,794,000 after buying an additional 48,073 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Esterline Technologies by 12.0% in the second quarter. Goldman Sachs Group Inc. now owns 935,158 shares of the aerospace company’s stock valued at $88,653,000 after buying an additional 100,543 shares during the period. Fisher Asset Management LLC acquired a new position in shares of Esterline Technologies in the third quarter valued at approximately $18,677,000. 1st Global Advisors Inc. acquired a new position in shares of Esterline Technologies in the second quarter valued at approximately $736,000. Finally, State Street Corp boosted its holdings in shares of Esterline Technologies by 1.9% in the second quarter. State Street Corp now owns 1,082,486 shares of the aerospace company’s stock valued at $102,617,000 after buying an additional 20,181 shares during the period. Institutional investors own 92.01% of the company’s stock.
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Esterline Technologies Company Profile
Esterline Technologies Corporation is a specialized manufacturing company. The Company designs, manufactures and markets engineered products and systems for application within the industries it serves. The Company operates through three segments: Avionics & Controls, Sensors & Systems, and Advanced Materials.
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