KLX Inc (NASDAQ:KLXI) – Equities research analysts at SunTrust Banks upped their Q2 2018 earnings estimates for KLX in a report issued on Wednesday. SunTrust Banks analyst M. Ciarmoli now expects that the aerospace company will post earnings per share of $0.42 for the quarter, up from their previous estimate of $0.35. SunTrust Banks also issued estimates for KLX’s Q3 2018 earnings at $0.50 EPS and FY2018 earnings at $1.80 EPS.
KLX (NASDAQ:KLXI) last issued its earnings results on Wednesday, May 24th. The aerospace company reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.06. KLX had a return on equity of 3.92% and a net margin of 1.68%. The company had revenue of $411.30 million during the quarter, compared to the consensus estimate of $409.95 million. TRADEMARK VIOLATION NOTICE: This article was originally posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this article on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark laws. The legal version of this article can be accessed at https://www.chaffeybreeze.com/2017/06/16/q2-2018-earnings-forecast-for-klx-inc-klxi-issued-by-suntrust-banks-updated-updated.html.
Other research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of KLX from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research report on Saturday, April 22nd. Cowen and Company reissued a “buy” rating and issued a $52.00 price target on shares of KLX in a research report on Tuesday, March 7th. Finally, Deutsche Bank AG raised their price objective on shares of KLX from $51.00 to $52.00 and gave the stock a “hold” rating in a report on Wednesday, April 19th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $52.67.
Shares of KLX (NASDAQ:KLXI) traded up 0.55% during trading on Thursday, hitting $49.33. The stock had a trading volume of 67,060 shares. The stock’s 50-day moving average price is $47.20 and its 200 day moving average price is $46.05. KLX has a one year low of $29.28 and a one year high of $52.40. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 53.62 and a beta of 1.27.
In other news, VP Michael F. Senft sold 2,328 shares of the firm’s stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $47.19, for a total transaction of $109,858.32. Following the completion of the sale, the vice president now owns 18,653 shares of the company’s stock, valued at $880,235.07. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.89% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its stake in KLX by 16,238.1% in the first quarter. BlackRock Inc. now owns 6,303,731 shares of the aerospace company’s stock valued at $281,777,000 after buying an additional 6,265,148 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in KLX by 62.7% in the first quarter. Goldman Sachs Group Inc. now owns 2,620,065 shares of the aerospace company’s stock valued at $117,117,000 after buying an additional 1,009,575 shares during the last quarter. Norges Bank purchased a new stake in KLX during the fourth quarter valued at $37,067,000. Westfield Capital Management Co. LP raised its stake in KLX by 266.0% in the first quarter. Westfield Capital Management Co. LP now owns 989,110 shares of the aerospace company’s stock valued at $44,213,000 after buying an additional 718,870 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in KLX by 36.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,675,495 shares of the aerospace company’s stock valued at $119,593,000 after buying an additional 708,731 shares during the last quarter. 99.90% of the stock is owned by institutional investors.
KLX Inc (KLX) is the distributor and service provider of aerospace fasteners and consumables. The Company offers ranges of aerospace hardware and consumables and inventory management services across the world. The Company operates through two segments: Aerospace Solutions Group (ASG) and Energy Services Group (ESG).
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