Desjardins Analysts Lower Earnings Estimates for Heroux Devtek Inc (TSE:HRX)

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Heroux Devtek Inc (TSE:HRX) – Analysts at Desjardins lowered their FY2021 earnings per share estimates for shares of Heroux Devtek in a research report issued to clients and investors on Monday, March 23rd. Desjardins analyst B. Poirier now forecasts that the company will post earnings per share of $0.53 for the year, down from their previous estimate of $1.12. Desjardins also issued estimates for Heroux Devtek’s FY2022 earnings at $0.83 EPS.

A number of other analysts have also weighed in on the stock. TD Securities upped their target price on shares of Heroux Devtek from C$24.00 to C$25.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. National Bank Financial cut their target price on shares of Heroux Devtek from C$24.00 to C$23.00 in a research note on Friday, March 6th. Finally, Raymond James restated a “market perform” rating and set a C$22.50 target price on shares of Heroux Devtek in a research note on Friday, February 7th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of C$21.92.

Shares of TSE:HRX opened at C$10.87 on Thursday. The company has a debt-to-equity ratio of 65.88, a current ratio of 1.98 and a quick ratio of 0.67. The firm has a market capitalization of $340.71 million and a PE ratio of 11.59. The firm’s 50-day moving average is C$16.85 and its two-hundred day moving average is C$17.87. Heroux Devtek has a 1 year low of C$8.56 and a 1 year high of C$21.64.

Heroux Devtek (TSE:HRX) last issued its quarterly earnings results on Thursday, February 6th. The company reported C$0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C$0.23 by C$0.01. The business had revenue of C$157.25 million for the quarter, compared to analysts’ expectations of C$149.50 million.

In other news, Director Gilles Labbé bought 16,800 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The shares were purchased at an average cost of C$9.00 per share, for a total transaction of C$151,200.00. Following the completion of the purchase, the director now owns 86,449 shares of the company’s stock, valued at C$778,041. Also, Director Martin Brassard bought 4,000 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were purchased at an average price of C$14.30 per share, for a total transaction of C$57,200.00. Following the completion of the purchase, the director now directly owns 172,411 shares of the company’s stock, valued at approximately C$2,465,477.30. Insiders have purchased 22,000 shares of company stock worth $222,800 over the last 90 days.

About Heroux Devtek

Héroux-Devtek Inc engages in the design, development, manufacture, integration, testing, and repair and overhaul of aircraft landing gears, hydraulic flight control actuators, and fracture-critical components in Canada, the United States, and the United Kingdom. The company also manufactures and sells hydraulic systems, fluid filtration systems, electronic enclosures, heat exchangers, and cabinets for suppliers of airborne radar, electro-optic systems, and aircraft controls.

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Earnings History and Estimates for Heroux Devtek (TSE:HRX)

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