Heico (NYSE:HEI) released its earnings results on Tuesday, May 29th. The aerospace company reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.03, Briefing.com reports. The firm had revenue of $430.60 million for the quarter, compared to analyst estimates of $426.47 million. Heico had a net margin of 13.60% and a return on equity of 15.22%. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.53 earnings per share.
HEI opened at $92.56 on Friday. The company has a current ratio of 3.02, a quick ratio of 1.36 and a debt-to-equity ratio of 0.50. The firm has a market cap of $10.17 billion, a P/E ratio of 54.77, a P/E/G ratio of 3.45 and a beta of 0.68. Heico has a 52 week low of $56.47 and a 52 week high of $97.32.
Heico shares are scheduled to split on the morning of Thursday, June 28th. The 5-4 split was announced on Tuesday, June 12th. The newly minted shares will be distributed to shareholders after the closing bell on Wednesday, June 27th.
The business also recently disclosed a Semi-Annual dividend, which will be paid on Thursday, July 19th. Investors of record on Wednesday, July 11th will be paid a dividend of $0.06 per share. The ex-dividend date is Tuesday, July 10th. Heico’s payout ratio is currently 8.28%.
A number of brokerages recently issued reports on HEI. Zacks Investment Research downgraded Heico from a “buy” rating to a “hold” rating in a report on Thursday, May 24th. Canaccord Genuity increased their price objective on Heico from $88.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, March 1st. SunTrust Banks reissued a “buy” rating on shares of Heico in a report on Thursday, March 1st. ValuEngine raised Heico from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Finally, Credit Suisse Group restated an “outperform” rating and set a $97.00 price target (up previously from $87.20) on shares of Heico in a research note on Thursday, March 1st. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Heico currently has an average rating of “Buy” and an average target price of $86.73.
In other Heico news, CEO Laurans A. Mendelson sold 30,000 shares of the firm’s stock in a transaction dated Monday, June 4th. The stock was sold at an average price of $76.21, for a total value of $2,286,300.00. Following the sale, the chief executive officer now directly owns 740,910 shares of the company’s stock, valued at approximately $56,464,751.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Alan Schriesheim sold 1,663 shares of the firm’s stock in a transaction dated Tuesday, April 10th. The stock was sold at an average price of $71.07, for a total value of $118,189.41. The disclosure for this sale can be found here. Over the last three months, insiders sold 143,964 shares of company stock worth $10,945,268. 9.88% of the stock is owned by corporate insiders.
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 for aerospace and industrial original equipment manufacturers, and the United States government.
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