Astronics (ATRO) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Share on StockTwits

Astronics (NASDAQ:ATRO) posted its earnings results on Thursday. The aerospace company reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.03, MarketWatch Earnings reports. The business had revenue of $202.92 million for the quarter, compared to analyst estimates of $195.09 million. Astronics had a net margin of 3.71% and a return on equity of 13.19%. The business’s quarterly revenue was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.18) EPS. Astronics updated its FY 2019 guidance to EPS.

Shares of Astronics stock traded up $0.31 on Thursday, hitting $34.81. The stock had a trading volume of 5,607 shares, compared to its average volume of 105,883. Astronics has a twelve month low of $27.56 and a twelve month high of $46.56. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.11 and a quick ratio of 1.79. The company has a market capitalization of $1.11 billion, a P/E ratio of 27.81, a P/E/G ratio of 2.04 and a beta of 1.81.

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of Astronics by 16.9% in the 4th quarter. BlackRock Inc. now owns 2,941,886 shares of the aerospace company’s stock worth $89,581,000 after purchasing an additional 425,325 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Astronics by 33.1% in the third quarter. Dimensional Fund Advisors LP now owns 1,064,514 shares of the aerospace company’s stock worth $46,306,000 after acquiring an additional 264,702 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Astronics by 240.6% in the fourth quarter. Bank of New York Mellon Corp now owns 323,261 shares of the aerospace company’s stock worth $9,843,000 after acquiring an additional 228,363 shares in the last quarter. Federated Investors Inc. PA boosted its holdings in Astronics by 148.3% in the third quarter. Federated Investors Inc. PA now owns 357,000 shares of the aerospace company’s stock worth $15,530,000 after acquiring an additional 213,200 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Astronics by 80.8% during the fourth quarter. Millennium Management LLC now owns 249,945 shares of the aerospace company’s stock valued at $7,611,000 after purchasing an additional 111,735 shares in the last quarter. 60.82% of the stock is owned by institutional investors.

Several analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Astronics from a “hold” rating to a “sell” rating in a report on Wednesday, February 13th. BidaskClub raised shares of Astronics from a “hold” rating to a “buy” rating in a research note on Wednesday, February 13th. Finally, ValuEngine raised shares of Astronics from a “sell” rating to a “hold” rating in a research note on Friday, November 16th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $41.33.

COPYRIGHT VIOLATION NOTICE: This piece was originally reported by Zolmax and is the property of of Zolmax. If you are reading this piece on another site, it was stolen and republished in violation of U.S. and international copyright & trademark laws. The original version of this piece can be read at https://zolmax.com/investing/astronics-atro-posts-quarterly-earnings-results-beats-estimates-by-0-03-eps/2917361.html.

About Astronics

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, electronics, and semiconductor industries worldwide. It operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems; electrical power generation, distribution, and motions systems; aircraft structures; avionics products; system certification; and connectivity and other products.

Further Reading: What is the Book Value of a Share?

Earnings History for Astronics (NASDAQ:ATRO)

Receive News & Ratings for Astronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Astronics and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Ecoreal Estate  Price Hits $0.12 on Major Exchanges
Ecoreal Estate Price Hits $0.12 on Major Exchanges
DAOstack  Trading Down 6.9% This Week
DAOstack Trading Down 6.9% This Week
Welltrado Reaches One Day Volume of $6,675.00
Welltrado Reaches One Day Volume of $6,675.00
Blue Capital Reinsurance  Upgraded to “Buy” by Zacks Investment Research
Blue Capital Reinsurance Upgraded to “Buy” by Zacks Investment Research
Direxion Daily MSCI India Bull 3x Shares  Announces $0.07 Quarterly Dividend
Direxion Daily MSCI India Bull 3x Shares Announces $0.07 Quarterly Dividend
Direxion Daily S&P 500 Bear 1x Shares  Increases Dividend to $0.15 Per Share
Direxion Daily S&P 500 Bear 1x Shares Increases Dividend to $0.15 Per Share


Leave a Reply

 
© 2006-2019 Zolmax.