Analysts Expect Heico Corp (HEI) Will Announce Quarterly Sales of $478.39 Million

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Brokerages expect that Heico Corp (NYSE:HEI) will announce sales of $478.39 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Heico’s earnings, with the highest sales estimate coming in at $485.00 million and the lowest estimate coming in at $474.00 million. Heico reported sales of $430.60 million during the same quarter last year, which would suggest a positive year over year growth rate of 11.1%. The company is scheduled to issue its next earnings report after the market closes on Tuesday, May 28th.

On average, analysts expect that Heico will report full-year sales of $1.96 billion for the current year, with estimates ranging from $1.96 billion to $1.97 billion. For the next year, analysts anticipate that the company will report sales of $2.10 billion, with estimates ranging from $2.07 billion to $2.13 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Heico.

Heico (NYSE:HEI) last issued its quarterly earnings data on Tuesday, February 26th. The aerospace company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. The firm had revenue of $466.15 million during the quarter, compared to analysts’ expectations of $453.65 million. Heico had a return on equity of 17.72% and a net margin of 14.86%.

HEI has been the subject of a number of research analyst reports. Canaccord Genuity reiterated a “buy” rating and issued a $110.00 price target (up from $105.00) on shares of Heico in a research note on Monday. UBS Group increased their price target on Heico from $85.00 to $112.00 and gave the company a “neutral” rating in a research note on Tuesday, April 30th. Cowen initiated coverage on Heico in a research note on Tuesday, March 5th. They issued a “market perform” rating and a $95.00 price target for the company. SunTrust Banks reiterated a “buy” rating and issued a $100.00 price target on shares of Heico in a research note on Wednesday, February 27th. Finally, Vertical Research initiated coverage on Heico in a research note on Tuesday, January 22nd. They issued a “buy” rating and a $91.00 price target for the company. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $97.38.

Shares of NYSE HEI traded down $0.10 during mid-day trading on Wednesday, reaching $103.73. 317,341 shares of the company were exchanged, compared to its average volume of 312,550. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.48 and a quick ratio of 1.66. The stock has a market capitalization of $13.84 billion, a P/E ratio of 57.31, a price-to-earnings-growth ratio of 3.99 and a beta of 0.85. Heico has a 1 year low of $70.40 and a 1 year high of $107.45.

In other news, Director Frank J. Schwitter sold 1,756 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $78.07, for a total value of $137,090.92. Following the transaction, the director now directly owns 1,313 shares of the company’s stock, valued at $102,505.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alan Schriesheim sold 8,000 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.86, for a total value of $686,880.00. Following the completion of the transaction, the director now directly owns 1,700 shares in the company, valued at $145,962. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,756 shares of company stock valued at $2,022,171. 9.23% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in HEI. AQR Capital Management LLC increased its stake in Heico by 48.7% during the 3rd quarter. AQR Capital Management LLC now owns 13,592 shares of the aerospace company’s stock valued at $1,259,000 after purchasing an additional 4,451 shares in the last quarter. Hotaling Investment Management LLC purchased a new position in shares of Heico in the 4th quarter worth $1,591,000. PFG Advisors purchased a new position in shares of Heico in the 4th quarter worth $692,000. Empowered Funds LLC purchased a new position in shares of Heico in the 4th quarter worth $1,175,000. Finally, Fisher Asset Management LLC raised its position in shares of Heico by 0.4% in the 4th quarter. Fisher Asset Management LLC now owns 1,596,380 shares of the aerospace company’s stock worth $123,688,000 after buying an additional 6,501 shares during the period. 26.09% of the stock is currently owned by institutional investors and hedge funds.

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

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