Q2 2023 EPS Estimates for HEICO Co. Lowered by Zacks Research (NYSE:HEI)

HEICO Co. (NYSE:HEI – Get Rating) – Zacks Research lowered their Q2 2023 EPS estimates for HEICO in a research note issued on Monday, March 13th. Zacks Research analyst A. Dutta now forecasts that the aerospace company will post earnings per share of $0.70 for the quarter, down from their previous estimate of $0.72. The consensus estimate for HEICO’s current full-year earnings is $2.99 per share. Zacks Research also issued estimates for HEICO’s Q3 2023 earnings at $0.74 EPS, Q4 2023 earnings at $0.77 EPS, Q2 2024 earnings at $0.79 EPS, Q4 2024 earnings at $0.90 EPS, FY2024 earnings at $3.28 EPS and FY2025 earnings at $3.40 EPS.

HEICO (NYSE:HEI – Get Rating) last posted its quarterly earnings data on Monday, February 27th. The aerospace company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.66 by $0.01. HEICO had a net margin of 15.30% and a return on equity of 13.89%. The business had revenue of $620.92 million for the quarter, compared to analysts’ expectations of $588.63 million. During the same period in the previous year, the firm posted $0.63 EPS. The firm’s revenue was up 26.6% compared to the same quarter last year.

HEI has been the topic of a number of other reports. Truist Financial raised their price target on shares of HEICO from $169.00 to $190.00 in a research report on Wednesday, March 1st. Benchmark upped their price target on shares of HEICO from $160.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, December 21st. Jefferies Financial Group upped their target price on shares of HEICO from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, February 27th. StockNews.com started coverage on shares of HEICO in a report on Thursday. They issued a “hold” rating for the company. Finally, Morgan Stanley raised their price target on HEICO from $172.00 to $184.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 1st. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, HEICO has a consensus rating of “Moderate Buy” and a consensus price target of $181.00.

HEICO Trading Up 2.5 %

Shares of NYSE HEI opened at $168.14 on Thursday. HEICO has a 52-week low of $126.95 and a 52-week high of $177.55. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.37 and a current ratio of 2.91. The firm has a 50 day moving average price of $169.39 and a two-hundred day moving average price of $159.60. The stock has a market cap of $23.02 billion, a P/E ratio of 64.92, a price-to-earnings-growth ratio of 4.40 and a beta of 1.18.

Hedge Funds Weigh In On HEICO

A number of hedge funds have recently modified their holdings of HEI. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of HEICO in the 3rd quarter worth $341,000. Aubrey Capital Management Ltd grew its holdings in HEICO by 12.2% during the third quarter. Aubrey Capital Management Ltd now owns 25,800 shares of the aerospace company’s stock worth $3,714,000 after purchasing an additional 2,800 shares during the period. Global Wealth Management Investment Advisory Inc. bought a new position in HEICO during the third quarter worth about $703,000. Quantinno Capital Management LP grew its holdings in HEICO by 33.9% during the third quarter. Quantinno Capital Management LP now owns 3,747 shares of the aerospace company’s stock worth $539,000 after purchasing an additional 948 shares during the period. Finally, Bradley Foster & Sargent Inc. CT boosted its holdings in shares of HEICO by 59.3% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 2,150 shares of the aerospace company’s stock worth $282,000 after acquiring an additional 800 shares during the period. 27.08% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other HEICO news, VP Thomas S. Irwin sold 3,608 shares of the firm’s stock in a transaction dated Tuesday, January 10th. The stock was sold at an average price of $121.56, for a total value of $438,588.48. Following the sale, the vice president now directly owns 40,863 shares of the company’s stock, valued at approximately $4,967,306.28. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Frank J. Schwitter sold 300 shares of the business’s stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $118.50, for a total transaction of $35,550.00. Following the sale, the director now directly owns 600 shares of the company’s stock, valued at $71,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas S. Irwin sold 3,608 shares of HEICO stock in a transaction on Tuesday, January 10th. The shares were sold at an average price of $121.56, for a total value of $438,588.48. Following the transaction, the vice president now owns 40,863 shares in the company, valued at approximately $4,967,306.28. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 3,633 shares of company stock worth $570,635 and sold 19,508 shares worth $3,067,278. 8.26% of the stock is currently owned by company insiders.

HEICO Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, January 23rd. Stockholders of record on Thursday, January 5th were paid a dividend of $0.10 per share. This represents a dividend yield of 0.1%. The ex-dividend date of this dividend was Wednesday, January 4th. This is a boost from HEICO’s previous semi-annual dividend of $0.09. HEICO’s dividend payout ratio is 7.72%.

HEICO Company Profile

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HEICO Corp. engages in the manufacturing of electronic equipment for the aviation, defense, space, medical, telecommunications, and electronics industries. It operates through the Flight Support Group and Electronic Technologies Group segments. The Flight Support Group segment designs, manufactures, repairs, overhauls, and distributes jet engine and aircraft component replacement parts.