Esterline Technologies Corporation (NYSE:ESL) issued an update on its FY17 earnings guidance on Thursday morning. The company provided EPS guidance of $4.50-4.70 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.93. The company issued revenue guidance of ~$2 billion, compared to the consensus revenue estimate of $2.04 billion.
Esterline Technologies Corporation (NYSE:ESL) traded down 1.84% during trading on Tuesday, hitting $85.15. 97,628 shares of the stock were exchanged. The firm’s 50 day moving average price is $94.72 and its 200-day moving average price is $91.63. Esterline Technologies Corporation has a 1-year low of $69.55 and a 1-year high of $102.70. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 18.97 and a beta of 1.43.
Esterline Technologies Corporation (NYSE:ESL) last released its quarterly earnings data on Thursday, August 3rd. The aerospace company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.30 by $0.22. Esterline Technologies Corporation had a return on equity of 9.18% and a net margin of 6.65%. The business had revenue of $503.80 million during the quarter, compared to analysts’ expectations of $522.38 million. During the same quarter last year, the business posted $1.38 EPS. The company’s quarterly revenue was down 2.6% compared to the same quarter last year. On average, analysts anticipate that Esterline Technologies Corporation will post $4.65 EPS for the current year.
Several equities research analysts have weighed in on ESL shares. BidaskClub cut Esterline Technologies Corporation from a hold rating to a sell rating in a report on Friday, June 23rd. Canaccord Genuity reiterated a hold rating and issued a $90.00 price objective on shares of Esterline Technologies Corporation in a report on Friday, May 5th. Jefferies Group LLC reiterated a hold rating and issued a $92.00 price objective on shares of Esterline Technologies Corporation in a report on Tuesday, July 25th. Credit Suisse Group AG decreased their target price on Esterline Technologies Corporation from $106.00 to $96.00 and set an outperform rating for the company in a research report on Monday, May 15th. Finally, Zacks Investment Research lowered Esterline Technologies Corporation from a buy rating to a hold rating in a research report on Friday, June 9th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $93.00.
In related news, major shareholder Hawkeye Fund Fpa sold 7,770 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $96.50, for a total transaction of $749,805.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Albert S. Yost sold 6,700 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $92.61, for a total value of $620,487.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,170 shares of company stock valued at $3,865,674. 1.40% of the stock is owned by corporate insiders.
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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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