HEICO Co. Expected to Earn FY2024 Earnings of $3.61 Per Share (NYSE:HEI)

HEICO Co. (NYSE:HEI) – Analysts at William Blair boosted their FY2024 earnings per share (EPS) estimates for HEICO in a note issued to investors on Tuesday, August 27th. William Blair analyst L. Dipalma now expects that the aerospace company will post earnings per share of $3.61 for the year, up from their prior forecast of $3.53. The consensus estimate for HEICO’s current full-year earnings is $3.57 per share.

Other research analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft lifted their price target on HEICO from $209.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. Royal Bank of Canada increased their price target on HEICO from $250.00 to $272.00 and gave the company an “outperform” rating in a report on Wednesday. Barclays started coverage on shares of HEICO in a research note on Monday, August 19th. They set an “equal weight” rating and a $250.00 price target for the company. Truist Financial raised their price target on HEICO from $248.00 to $264.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Stifel Nicolaus increased their target price on HEICO from $250.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, HEICO has a consensus rating of “Moderate Buy” and an average target price of $255.67.

HEICO Price Performance

HEI stock opened at $250.25 on Thursday. HEICO has a 52 week low of $155.42 and a 52 week high of $258.84. The firm has a market capitalization of $34.66 billion, a P/E ratio of 78.69, a price-to-earnings-growth ratio of 3.53 and a beta of 1.20. The company has a fifty day simple moving average of $232.21 and a two-hundred day simple moving average of $213.07. The company has a quick ratio of 1.57, a current ratio of 3.52 and a debt-to-equity ratio of 0.69.

HEICO (NYSE:HEI) last released its quarterly earnings data on Monday, August 26th. The aerospace company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. HEICO had a return on equity of 14.26% and a net margin of 12.62%. The business had revenue of $992.20 million for the quarter, compared to the consensus estimate of $995.34 million. During the same quarter in the previous year, the company posted $0.77 EPS. The company’s revenue was up 37.3% compared to the same quarter last year.

HEICO Increases Dividend

The business also recently announced a Semi-Annual dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Monday, July 1st. This represents a yield of 0.1%. This is a positive change from HEICO’s previous Semi-Annual dividend of $0.07. HEICO’s dividend payout ratio is currently 6.92%.

Insider Activity

In related news, insider Eric A. Mendelson sold 2,832 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $180.06, for a total transaction of $509,929.92. Following the completion of the sale, the insider now owns 246,060 shares of the company’s stock, valued at $44,305,563.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Eric A. Mendelson sold 53,510 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $182.02, for a total value of $9,739,890.20. Following the transaction, the insider now directly owns 168,891 shares of the company’s stock, valued at $30,741,539.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric A. Mendelson sold 2,832 shares of HEICO stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $180.06, for a total value of $509,929.92. Following the sale, the insider now directly owns 246,060 shares of the company’s stock, valued at approximately $44,305,563.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 85,206 shares of company stock worth $15,571,927. 8.10% of the stock is currently owned by company insiders.

Institutional Trading of HEICO

Hedge funds and other institutional investors have recently made changes to their positions in the business. Andra AP fonden acquired a new stake in shares of HEICO during the 2nd quarter worth approximately $45,000. Center for Financial Planning Inc. purchased a new stake in shares of HEICO during the 2nd quarter worth about $52,000. American National Bank acquired a new stake in shares of HEICO during the 2nd quarter valued at about $66,000. FSC Wealth Advisors LLC purchased a new position in shares of HEICO in the 2nd quarter valued at about $73,000. Finally, Psagot Value Holdings Ltd. Israel purchased a new position in HEICO during the fourth quarter worth approximately $70,000. Institutional investors and hedge funds own 27.12% of the company’s stock.

About HEICO

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.