HEICO Co. (NYSE:HEI) Forecasted to Post Q3 2024 Earnings of $0.89 Per Share

HEICO Co. (NYSE:HEI) – Equities researchers at Zacks Research boosted their Q3 2024 earnings per share (EPS) estimates for HEICO in a research report issued to clients and investors on Tuesday, June 18th. Zacks Research analyst R. Department now forecasts that the aerospace company will post earnings per share of $0.89 for the quarter, up from their previous forecast 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.

Several other brokerages have also recently commented on HEI. Morgan Stanley raised HEICO from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $178.00 to $225.00 in a research report on Tuesday, June 4th. Truist Financial reiterated a “buy” rating and set a $240.00 price objective (up from $229.00) on shares of HEICO in a report on Thursday, May 30th. Royal Bank of Canada increased their price objective on HEICO from $235.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft increased their price objective on HEICO from $209.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Finally, Stifel Nicolaus increased 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. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, HEICO has a consensus rating of “Moderate Buy” and an average price target of $232.67.

HEICO Stock Performance

Shares of HEICO stock opened at $228.81 on Wednesday. The stock has a market cap of $31.69 billion, a PE ratio of 71.95, a price-to-earnings-growth ratio of 3.41 and a beta of 1.21. The business has a fifty day simple moving average of $211.49 and a 200-day simple moving average of $193.93. 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 has a 12 month low of $155.42 and a 12 month high of $229.30.

HEICO (NYSE:HEI) last issued its earnings results on Tuesday, May 28th. The aerospace company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.80 by $0.08. The business had revenue of $955.40 million during the quarter, compared to analysts’ expectations of $951.24 million. HEICO had a return on equity of 14.26% and a net margin of 12.62%. HEICO’s revenue was up 38.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.76 earnings per share.

Institutional Investors Weigh In On HEICO

A number of institutional investors have recently added to or reduced their stakes in HEI. Azimuth Capital Investment Management LLC acquired a new stake in HEICO during the third quarter worth about $6,908,000. Sawgrass Asset Management LLC acquired a new stake in HEICO during the third quarter worth about $5,010,000. Roundview Capital LLC boosted its holdings in HEICO by 1.0% during the third quarter. Roundview Capital LLC now owns 11,120 shares of the aerospace company’s stock valued at $1,801,000 after purchasing an additional 112 shares in the last quarter. Gotham Asset Management LLC boosted its holdings in HEICO by 9.3% during the third quarter. Gotham Asset Management LLC now owns 4,098 shares of the aerospace company’s stock valued at $664,000 after purchasing an additional 349 shares in the last quarter. Finally, Alerus Financial NA boosted its holdings in HEICO by 0.7% during the third quarter. Alerus Financial NA now owns 49,384 shares of the aerospace company’s stock valued at $7,997,000 after purchasing an additional 356 shares in the last quarter. 27.12% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at HEICO

In other news, Director Frank J. Schwitter sold 400 shares of HEICO stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $193.70, for a total value of $77,480.00. Following the transaction, the director now directly owns 1,255 shares in the company, valued at $243,093.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Frank J. Schwitter sold 400 shares of HEICO stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $193.70, for a total transaction of $77,480.00. Following the sale, the director now directly owns 1,255 shares of the company’s stock, valued at $243,093.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Alan Schriesheim sold 26,000 shares of HEICO stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $192.18, for a total value of $4,996,680.00. Following the sale, 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. 8.10% of the stock is currently owned by corporate insiders.

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.