Esterline Technologies Corporation (NYSE:ESL) – Equities research analysts at SunTrust Banks cut their Q4 2017 earnings per share (EPS) estimates for Esterline Technologies Corporation in a report released on Thursday. SunTrust Banks analyst M. Ciarmoli now forecasts that the aerospace company will post earnings of $1.52 per share for the quarter, down from their prior forecast of $1.63. SunTrust Banks also issued estimates for Esterline Technologies Corporation’s Q1 2018 earnings at $0.86 EPS and Q4 2018 earnings at $1.89 EPS.
Esterline Technologies Corporation (NYSE:ESL) last released its earnings results on Thursday, August 3rd. The aerospace company reported $1.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.30 by $0.22. The firm had revenue of $503.80 million during the quarter, compared to analyst estimates of $522.38 million. Esterline Technologies Corporation had a net margin of 6.65% and a return on equity of 9.18%. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period last year, the business posted $1.38 earnings per share. TRADEMARK VIOLATION NOTICE: “Esterline Technologies Corporation (ESL) Forecasted to Earn Q4 2017 Earnings of $1.52 Per Share” was first published by BNB Daily and is owned by of BNB Daily. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of United States & international trademark & copyright laws. The original version of this piece can be accessed at https://www.baseball-news-blog.com/2017/08/19/esterline-technologies-corporation-esl-forecasted-to-earn-q4-2017-earnings-of-1-52-per-share-updated.html.
ESL has been the subject of a number of other reports. Canaccord Genuity reiterated a “hold” rating and issued a $90.00 price target on shares of Esterline Technologies Corporation in a research note on Thursday, June 22nd. Credit Suisse Group dropped their price target on Esterline Technologies Corporation from $106.00 to $96.00 and set an “outperform” rating for the company in a research note on Monday, May 15th. Zacks Investment Research upgraded Esterline Technologies Corporation from a “hold” rating to a “buy” rating and set a $102.00 price target for the company in a research note on Monday, May 8th. Jefferies Group LLC reiterated a “hold” rating and issued a $90.00 price target (down from $92.00) on shares of Esterline Technologies Corporation in a research note on Wednesday. Finally, BidaskClub upgraded Esterline Technologies Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $96.00.
Esterline Technologies Corporation (NYSE:ESL) traded up 2.40% during midday trading on Monday, hitting $87.40. The stock had a trading volume of 52,667 shares. The company has a 50-day moving average of $96.57 and a 200-day moving average of $91.53. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of 19.56 and a beta of 1.43. Esterline Technologies Corporation has a 1-year low of $68.05 and a 1-year high of $102.70.
In related news, CFO Robert David George sold 26,700 shares of the stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $93.46, for a total value of $2,495,382.00. Following the completion of the sale, the chief financial officer now directly owns 29,960 shares in the company, valued at $2,800,061.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Hawkeye Fund Fpa sold 7,770 shares of the stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $96.50, for a total value of $749,805.00. The disclosure for this sale can be found here. Insiders sold 41,170 shares of company stock valued at $3,865,674 over the last 90 days. 1.40% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of ESL. Norges Bank bought a new stake in Esterline Technologies Corporation during the fourth quarter worth $21,704,000. Teachers Advisors LLC increased its stake in Esterline Technologies Corporation by 2.8% in the fourth quarter. Teachers Advisors LLC now owns 55,531 shares of the aerospace company’s stock worth $4,953,000 after buying an additional 1,531 shares during the last quarter. Macquarie Group Ltd. increased its stake in Esterline Technologies Corporation by 7.6% in the fourth quarter. Macquarie Group Ltd. now owns 128,949 shares of the aerospace company’s stock worth $11,502,000 after buying an additional 9,149 shares during the last quarter. Chevy Chase Trust Holdings Inc. increased its stake in Esterline Technologies Corporation by 13.6% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 10,343 shares of the aerospace company’s stock worth $890,000 after buying an additional 1,236 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in Esterline Technologies Corporation by 14.3% in the first quarter. Bank of Montreal Can now owns 3,132 shares of the aerospace company’s stock worth $269,000 after buying an additional 393 shares during the last quarter. Institutional investors and hedge funds own 90.22% of the company’s stock.
About Esterline Technologies Corporation
Esterline Technologies Corporation is a specialized manufacturing company. The Company designs, manufactures and markets engineered products and systems for application within the industries it serves. The Company operates through three segments: Avionics & Controls, Sensors & Systems, and Advanced Materials.
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