Astronics Corp. (ATRO) to Post Q3 2016 Earnings of $0.50 Per Share, Dougherty & Co Forecasts
Astronics Corp. (NASDAQ:ATRO) – Stock analysts at Dougherty & Co reduced their Q3 2016 EPS estimates for shares of Astronics Corp. in a research report issued on Thursday. Dougherty & Co analyst R. Ryan now expects that the brokerage will post earnings per share of $0.50 for the quarter, down from their previous estimate of $0.57. Dougherty & Co also issued estimates for Astronics Corp.’s FY2016 earnings at $1.93 EPS.
Several other equities research analysts also recently issued reports on the company. Canaccord Genuity lifted their price objective on Astronics Corp. from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, September 26th. KeyCorp upgraded Astronics Corp. from a “sector weight” rating to an “overweight” rating in a report on Wednesday, June 29th.
Shares of Astronics Corp. (NASDAQ:ATRO) opened at 36.62 on Friday. The stock’s 50 day moving average price is $43.53 and its 200 day moving average price is $38.61. Astronics Corp. has a 1-year low of $24.75 and a 1-year high of $48.00. The stock has a market cap of $926.27 million, a PE ratio of 14.83 and a beta of 1.18.
Astronics Corp. (NASDAQ:ATRO) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.09. Astronics Corp. had a return on equity of 21.44% and a net margin of 9.55%. The business earned $164.40 million during the quarter, compared to the consensus estimate of $162.17 million. During the same period in the prior year, the company earned $0.77 earnings per share. The company’s revenue was down 5.0% compared to the same quarter last year.
In other Astronics Corp. news, Director John B. Drenning sold 5,000 shares of Astronics Corp. stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $43.47, for a total transaction of $217,350.00. Following the sale, the director now directly owns 52,039 shares in the company, valued at approximately $2,262,135.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 16.03% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of ATRO. Wellington Management Group LLP raised its position in shares of Astronics Corp. by 5.9% in the first quarter. Wellington Management Group LLP now owns 1,580,396 shares of the company’s stock valued at $60,292,000 after buying an additional 87,543 shares during the last quarter. Royal Bank of Canada raised its position in shares of Astronics Corp. by 1.1% in the second quarter. Royal Bank of Canada now owns 1,443,970 shares of the company’s stock valued at $48,027,000 after buying an additional 15,965 shares during the last quarter. Neuberger Berman Group LLC raised its position in shares of Astronics Corp. by 6.2% in the second quarter. Neuberger Berman Group LLC now owns 1,384,191 shares of the company’s stock valued at $46,038,000 after buying an additional 80,750 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Astronics Corp. by 1.3% in the first quarter. Franklin Resources Inc. now owns 1,241,528 shares of the company’s stock valued at $47,364,000 after buying an additional 16,294 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Astronics Corp. by 0.8% in the second quarter. Vanguard Group Inc. now owns 939,855 shares of the company’s stock valued at $31,259,000 after buying an additional 7,004 shares during the last quarter. Institutional investors own 65.80% of the company’s stock.
About Astronics Corp.
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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