Esterline Technologies Co. Expected to Earn FY2019 Earnings of $4.45 Per Share (ESL)

Esterline Technologies Co. (NYSE:ESL) – Research analysts at SunTrust Banks decreased their FY2019 earnings per share estimates for shares of Esterline Technologies in a note issued to investors on Wednesday, October 17th. SunTrust Banks analyst M. Ciarmoli now forecasts that the aerospace company will post earnings per share of $4.45 for the year, down from their prior estimate of $4.53.

Several other research analysts also recently commented on the company. Credit Suisse Group upgraded Esterline Technologies from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $66.00 to $122.50 in a report on Thursday, October 11th. Alembic Global Advisors assumed coverage on Esterline Technologies in a report on Friday, October 5th. They set an “overweight” rating on the stock. ValuEngine upgraded Esterline Technologies from a “hold” rating to a “buy” rating in a report on Friday, September 14th. Canaccord Genuity raised their price objective on Esterline Technologies from $76.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, August 3rd. Finally, Jefferies Financial Group restated a “hold” rating and set a $92.00 price objective on shares of Esterline Technologies in a report on Friday, August 3rd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $88.94.

ESL opened at $117.56 on Friday. The firm has a market cap of $3.46 billion, a price-to-earnings ratio of 26.96, a PEG ratio of 2.19 and a beta of 1.21. Esterline Technologies has a 52 week low of $67.15 and a 52 week high of $119.07. The company has a current ratio of 3.39, a quick ratio of 2.12 and a debt-to-equity ratio of 0.41.

Esterline Technologies (NYSE:ESL) last issued its quarterly earnings results on Thursday, August 2nd. The aerospace company reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.15. Esterline Technologies had a return on equity of 5.91% and a net margin of 2.62%. The firm had revenue of $499.90 million during the quarter, compared to analyst estimates of $476.01 million. During the same period last year, the company earned $1.08 EPS. Esterline Technologies’s quarterly revenue was down .8% compared to the same quarter last year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hartford Investment Management Co. purchased a new position in shares of Esterline Technologies in the 2nd quarter valued at $208,000. Summit Trail Advisors LLC increased its holdings in shares of Esterline Technologies by 6,585.3% in the 1st quarter. Summit Trail Advisors LLC now owns 210,787 shares of the aerospace company’s stock valued at $211,000 after acquiring an additional 207,634 shares during the period. CHICAGO TRUST Co NA purchased a new position in shares of Esterline Technologies in the 3rd quarter valued at $240,000. First Hawaiian Bank purchased a new position in shares of Esterline Technologies in the 3rd quarter valued at $304,000. Finally, First Washington CORP purchased a new position in shares of Esterline Technologies in the 2nd quarter valued at $306,000. Institutional investors own 94.14% of the company’s stock.

Esterline Technologies Company Profile

Esterline Technologies Corporation designs, manufactures, and markets engineered products and systems primarily for aerospace and defense customers in the United States and internationally. It operates through three segments: Avionics & Controls, Sensors & Systems, and Advanced Materials. The Avionics & Controls segment offers global positioning systems, head-up displays, enhanced vision systems, and electronic flight management systems for control and display applications; lighted push-button and rotary switches, keyboards, lighted indicators, panels, and displays; and control sticks, grips, wheels, and switching systems.

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Earnings History and Estimates for Esterline Technologies (NYSE:ESL)

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