Q3 2024 Earnings Forecast for HEICO Co. Issued By Zacks Research (NYSE:HEI)

HEICO Co. (NYSE:HEI) – Equities researchers at Zacks Research raised their Q3 2024 earnings estimates for shares of HEICO in a note issued to investors on Tuesday, June 18th. Zacks Research analyst R. Department now anticipates that the aerospace company will post earnings of $0.89 per share for the quarter, up from their prior estimate of $0.88. The consensus estimate for HEICO’s current full-year earnings is $3.53 per share. Zacks Research also issued estimates for HEICO’s FY2024 earnings at $3.53 EPS, Q2 2025 earnings at $0.97 EPS, Q3 2025 earnings at $1.01 EPS, Q4 2025 earnings at $1.23 EPS, FY2025 earnings at $4.10 EPS and FY2026 earnings at $4.46 EPS.

A number of other research analysts have also issued reports on HEI. Morgan Stanley upgraded HEICO from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $178.00 to $225.00 in a research report on Tuesday, June 4th. Robert W. Baird increased their price objective on shares of HEICO from $223.00 to $243.00 and gave the company an “outperform” rating in a research note on Thursday, May 30th. Stifel Nicolaus upped their price objective on HEICO from $215.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Royal Bank of Canada boosted their price target on HEICO from $235.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, May 30th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on HEICO from $209.00 to $235.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $232.67.

HEICO Stock Performance

NYSE HEI opened at $228.78 on Wednesday. The company has a market cap of $31.69 billion, a PE ratio of 71.94, a price-to-earnings-growth ratio of 3.41 and a beta of 1.21. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.52 and a quick ratio of 1.57. The stock’s 50 day simple moving average is $212.31 and its 200-day simple moving average is $194.30. HEICO has a 1-year low of $155.42 and a 1-year high of $229.30.

HEICO (NYSE:HEI) last announced its quarterly earnings results on Tuesday, May 28th. The aerospace company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.08. HEICO had a return on equity of 14.26% and a net margin of 12.62%. The company had revenue of $955.40 million during the quarter, compared to analyst estimates of $951.24 million. During the same period in the prior year, the company earned $0.76 earnings per share. The firm’s revenue was up 38.9% on a year-over-year basis.

Insiders Place Their Bets

In related news, Director Alan Schriesheim sold 26,000 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $192.18, for a total transaction of $4,996,680.00. Following the completion of the sale, the director now directly owns 155,862 shares in the company, valued at approximately $29,953,559.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other HEICO news, Director Frank J. Schwitter sold 400 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $193.70, for a total transaction of $77,480.00. Following the completion of the sale, the director now directly owns 1,255 shares in the company, valued at approximately $243,093.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Alan Schriesheim sold 26,000 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $192.18, for a total value of $4,996,680.00. Following the transaction, the director now directly owns 155,862 shares in the company, valued at $29,953,559.16. The disclosure for this sale can be found here. Corporate insiders own 8.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of HEI. Capital World Investors raised its holdings in shares of HEICO by 10.5% in the fourth quarter. Capital World Investors now owns 3,276,326 shares of the aerospace company’s stock worth $586,036,000 after buying an additional 311,304 shares during the last quarter. Zeno Equity Partners LLP increased its holdings in shares of HEICO by 154.3% in the 1st quarter. Zeno Equity Partners LLP now owns 161,570 shares of the aerospace company’s stock valued at $30,860,000 after acquiring an additional 98,033 shares during the last quarter. EULAV Asset Management boosted its stake in HEICO by 50.9% in the third quarter. EULAV Asset Management now owns 233,593 shares of the aerospace company’s stock valued at $37,826,000 after acquiring an additional 78,779 shares in the last quarter. Azimuth Capital Investment Management LLC increased its position in HEICO by 118.3% during the fourth quarter. Azimuth Capital Investment Management LLC now owns 93,108 shares of the aerospace company’s stock worth $16,654,000 after buying an additional 50,448 shares during the period. Finally, Federated Hermes Inc. grew its stake in shares of HEICO by 8.3% in the 4th quarter. Federated Hermes Inc. now owns 567,103 shares of the aerospace company’s stock valued at $101,438,000 after purchasing an additional 43,509 shares during the last quarter. 27.12% of the stock is owned by hedge funds and other institutional investors.

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. Its Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components.