Zacks: Brokerages Expect Astronics Co. (ATRO) Will Announce Earnings of $0.30 Per Share

Brokerages expect Astronics Co. (NASDAQ:ATRO) to report earnings of $0.30 per share for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Astronics’ earnings, with the lowest EPS estimate coming in at $0.25 and the highest estimate coming in at $0.35. Astronics posted earnings per share of $0.44 during the same quarter last year, which would indicate a negative year over year growth rate of 31.8%. The company is scheduled to report its next earnings report on Wednesday, May 3rd.

On average, analysts expect that Astronics will report full-year earnings of $1.76 per share for the current financial year, with EPS estimates ranging from $1.68 to $1.85. For the next fiscal year, analysts expect that the company will report earnings of $2.13 per share, with EPS estimates ranging from $2.04 to $2.22. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that follow Astronics.

Astronics (NASDAQ:ATRO) last issued its earnings results on Friday, February 17th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.45 by $0.12. Astronics had a return on equity of 16.66% and a net margin of 8.24%. The firm earned $154.10 million during the quarter, compared to the consensus estimate of $158.93 million. During the same period last year, the business earned $0.53 earnings per share. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year.

Several research analysts have weighed in on the company. Canaccord Genuity reaffirmed a “buy” rating and set a $38.00 price target on shares of Astronics in a research report on Tuesday, February 14th. Zacks Investment Research raised Astronics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 10th. SunTrust Banks, Inc. assumed coverage on Astronics in a research report on Thursday, January 19th. They set a “hold” rating and a $35.00 price target on the stock. Finally, TheStreet lowered Astronics from a “b-” rating to a “c+” rating in a research report on Friday, January 20th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $41.67.

Several hedge funds and other institutional investors have recently bought and sold shares of ATRO. Highbridge Capital Management LLC acquired a new position in Astronics during the fourth quarter worth $541,000. Teachers Advisors LLC raised its position in Astronics by 17.3% in the fourth quarter. Teachers Advisors LLC now owns 36,800 shares of the company’s stock worth $1,245,000 after buying an additional 5,430 shares during the last quarter. ARS Investment Partners LLC acquired a new position in Astronics during the fourth quarter worth $1,782,000. Wexford Capital LP acquired a new position in Astronics during the fourth quarter worth $521,000. Finally, Franklin Resources Inc. raised its position in Astronics by 6.3% in the fourth quarter. Franklin Resources Inc. now owns 1,269,428 shares of the company’s stock worth $42,958,000 after buying an additional 75,750 shares during the last quarter. 58.74% of the stock is currently owned by institutional investors and hedge funds.

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Astronics (NASDAQ:ATRO) traded down 2.71% on Thursday, reaching $30.50. The company’s stock had a trading volume of 183,056 shares. The company has a 50-day moving average price of $31.59 and a 200 day moving average price of $34.47. The company has a market cap of $887.46 million, a P/E ratio of 18.94 and a beta of 1.36. Astronics has a 12 month low of $26.53 and a 12 month high of $41.03.

Astronics Company Profile

Astronics Corporation is a supplier of products to the aerospace, defense, electronics and semiconductor industries. The Company’s products and services include electrical power generation, distribution and motion systems, lighting and safety systems, avionics products, aircraft structures, systems certification and automated test systems.

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