Equities research analysts expect that FLIR Systems, Inc. (NASDAQ:FLIR) will announce $446.22 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for FLIR Systems’ earnings, with the highest sales estimate coming in at $457.20 million and the lowest estimate coming in at $439.00 million. FLIR Systems reported sales of $464.71 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 4%. The business is expected to report its next quarterly earnings results before the market opens on Tuesday, October 30th.
On average, analysts expect that FLIR Systems will report full year sales of $1.81 billion for the current financial year, with estimates ranging from $1.80 billion to $1.83 billion. For the next financial year, analysts forecast that the company will post sales of $1.90 billion, with estimates ranging from $1.87 billion to $1.93 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover FLIR Systems.
FLIR Systems (NASDAQ:FLIR) last announced its quarterly earnings results on Wednesday, July 25th. The scientific and technical instruments company reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.06. The business had revenue of $452.70 million during the quarter, compared to analyst estimates of $429.12 million. FLIR Systems had a net margin of 6.70% and a return on equity of 16.44%. FLIR Systems’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.42 EPS.
A number of analysts have commented on the stock. BidaskClub lowered shares of FLIR Systems from a “buy” rating to a “hold” rating in a research note on Saturday, July 7th. Zacks Investment Research upgraded shares of FLIR Systems from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research note on Monday, July 23rd. Seaport Global Securities restated a “buy” rating and set a $66.00 price target on shares of FLIR Systems in a research note on Thursday, July 26th. Stephens boosted their price target on shares of FLIR Systems from $61.00 to $69.00 and gave the company an “overweight” rating in a research note on Monday, July 30th. Finally, Needham & Company LLC boosted their price target on shares of FLIR Systems from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, July 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $56.75.
In other news, SVP Todd M. Duchene sold 1,000 shares of the company’s stock in a transaction on Monday, September 17th. The shares were sold at an average price of $62.95, for a total value of $62,950.00. Following the completion of the sale, the senior vice president now owns 38,453 shares in the company, valued at approximately $2,420,616.35. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Earl R. Lewis sold 25,000 shares of the company’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $60.09, for a total transaction of $1,502,250.00. Following the completion of the sale, the director now owns 538,387 shares of the company’s stock, valued at approximately $32,351,674.83. The disclosure for this sale can be found here. In the last quarter, insiders sold 133,264 shares of company stock valued at $8,081,353. Company insiders own 2.00% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Summit Trail Advisors LLC grew its stake in shares of FLIR Systems by 3,042.2% in the 1st quarter. Summit Trail Advisors LLC now owns 103,536 shares of the scientific and technical instruments company’s stock worth $104,000 after acquiring an additional 100,241 shares in the last quarter. Fort L.P. bought a new stake in shares of FLIR Systems in the 2nd quarter worth $117,000. OLD Mutual Customised Solutions Proprietary Ltd. bought a new stake in shares of FLIR Systems in the 2nd quarter worth $130,000. Ostrum Asset Management bought a new stake in shares of FLIR Systems in the 1st quarter worth $143,000. Finally, Cerebellum GP LLC bought a new stake in shares of FLIR Systems in the 2nd quarter worth $172,000. Hedge funds and other institutional investors own 90.58% of the company’s stock.
FLIR stock traded up $0.86 during midday trading on Monday, reaching $56.06. 714,940 shares of the company’s stock traded hands, compared to its average volume of 952,968. The firm has a market capitalization of $8.48 billion, a PE ratio of 29.82 and a beta of 0.68. The company has a current ratio of 4.07, a quick ratio of 2.85 and a debt-to-equity ratio of 0.23. FLIR Systems has a 52 week low of $42.33 and a 52 week high of $63.88.
About FLIR Systems
FLIR Systems, Inc designs, develops, manufactures, and markets thermal imaging systems, visible-light imaging systems, locater systems, measurement and diagnostic systems, and threat-detection solutions worldwide. The company operates in six segments: Surveillance, Instruments, Security, OEM & Emerging Markets, Maritime, and Detection.
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