FLIR Systems, Inc. (NASDAQ:FLIR) - Seaport Global Securities reduced their Q3 2017 EPS estimates for FLIR Systems in a research note issued on Thursday. Seaport Global Securities analyst J. Sullivan now forecasts that the scientific and technical instruments company will post earnings per share of $0.48 for the quarter, down from their prior estimate of $0.51. Seaport Global Securities also issued estimates for FLIR Systems’ FY2017 earnings at $1.87 EPS, Q1 2018 earnings at $0.48 EPS, Q3 2018 earnings at $0.57 EPS, Q4 2018 earnings at $0.67 EPS and FY2018 earnings at $2.15 EPS.
FLIR Systems (NASDAQ:FLIR) last issued its quarterly earnings data on Wednesday, July 26th. The scientific and technical instruments company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.41 by $0.01. The company had revenue of $434.12 million during the quarter, compared to analysts’ expectations of $437.32 million. FLIR Systems had a net margin of 12.44% and a return on equity of 13.55%. FLIR Systems’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.37 earnings per share. TRADEMARK VIOLATION NOTICE: This piece of content was published by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this piece of content on another site, it was stolen and republished in violation of U.S. and international copyright legislation. The legal version of this piece of content can be viewed at https://stocknewstimes.com/2017/07/29/seaport-global-securities-research-analysts-decrease-earnings-estimates-for-flir-systems-inc-nasdaqflir.html.
Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of FLIR Systems from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research note on Thursday. BidaskClub upgraded shares of FLIR Systems from a “sell” rating to a “hold” rating in a research note on Monday, July 17th. Stephens initiated coverage on shares of FLIR Systems in a research note on Friday, July 7th. They set an “overweight” rating on the stock. Raymond James Financial, Inc. upgraded shares of FLIR Systems from a “market perform” rating to a “strong-buy” rating and set a $43.00 target price on the stock in a research note on Monday, July 10th. Finally, UBS AG upgraded shares of FLIR Systems from a “market perform” rating to a “strong-buy” rating in a research note on Monday, July 10th. Five research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $38.13.
FLIR Systems (FLIR) opened at 36.50 on Friday. The company’s 50-day moving average is $36.30 and its 200 day moving average is $36.36. FLIR Systems has a 52 week low of $28.26 and a 52 week high of $38.94. The stock has a market cap of $4.98 billion, a PE ratio of 24.32 and a beta of 0.58.
A number of large investors have recently made changes to their positions in the stock. Perigon Wealth Management LLC raised its stake in shares of FLIR Systems by 337.0% in the fourth quarter. Perigon Wealth Management LLC now owns 15,394 shares of the scientific and technical instruments company’s stock worth $563,000 after buying an additional 11,871 shares during the period. Teachers Advisors LLC raised its stake in shares of FLIR Systems by 4.7% in the fourth quarter. Teachers Advisors LLC now owns 169,580 shares of the scientific and technical instruments company’s stock worth $6,137,000 after buying an additional 7,567 shares during the period. Kentucky Retirement Systems bought a new stake in shares of FLIR Systems during the fourth quarter worth about $357,000. Chevy Chase Trust Holdings Inc. raised its stake in shares of FLIR Systems by 26.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 1,926,793 shares of the scientific and technical instruments company’s stock worth $69,904,000 after buying an additional 406,331 shares during the period. Finally, Contravisory Investment Management Inc. raised its stake in shares of FLIR Systems by 19.5% in the first quarter. Contravisory Investment Management Inc. now owns 9,971 shares of the scientific and technical instruments company’s stock worth $362,000 after buying an additional 1,624 shares during the period. 92.10% of the stock is owned by institutional investors and hedge funds.
In other FLIR Systems news, SVP Travis D. Merrill sold 4,000 shares of the stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $37.23, for a total transaction of $148,920.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Wright Crouch sold 38,800 shares of the stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $35.95, for a total transaction of $1,394,860.00. Following the sale, the director now directly owns 36,006 shares of the company’s stock, valued at $1,294,415.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,771 shares of company stock valued at $2,625,195. Insiders own 3.00% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 25th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Wednesday, August 23rd. FLIR Systems’s dividend payout ratio (DPR) is currently 38.46%.
About FLIR Systems
FLIR Systems, Inc (FLIR) designs, develops, markets and distributes thermal imaging systems, visible-light imaging systems, locater systems, measurement and diagnostic systems and threat-detection solutions. The Company’s segments include Surveillance, Instruments, Security, OEM & Emerging Markets, Maritime and Detection.
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