Equities analysts predict that FLIR Systems, Inc. (NASDAQ:FLIR) will announce sales of $480.17 million for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for FLIR Systems’ earnings. The highest sales estimate is $497.49 million and the lowest is $467.44 million. FLIR Systems reported sales of $452.71 million during the same quarter last year, which indicates a positive year-over-year growth rate of 6.1%. The firm is expected to announce its next quarterly earnings report on Wednesday, July 24th.
On average, analysts expect that FLIR Systems will report full-year sales of $1.93 billion for the current year, with estimates ranging from $1.91 billion to $1.94 billion. For the next year, analysts expect that the business will report sales of $2.03 billion, with estimates ranging from $1.99 billion to $2.06 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover FLIR Systems.
FLIR Systems (NASDAQ:FLIR) last announced its earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.05. FLIR Systems had a return on equity of 16.84% and a net margin of 17.13%. The firm had revenue of $444.70 million for the quarter, compared to analyst estimates of $440.98 million. During the same quarter last year, the firm posted $0.48 EPS. The business’s revenue was up 1.2% on a year-over-year basis.
FLIR has been the topic of a number of research reports. Zacks Investment Research upgraded FLIR Systems from a “sell” rating to a “hold” rating in a report on Monday, February 4th. ValuEngine lowered FLIR Systems from a “buy” rating to a “hold” rating in a report on Friday, March 1st. BidaskClub lowered FLIR Systems from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. Raymond James lowered FLIR Systems from a “strong-buy” rating to an “outperform” rating in a report on Monday, March 18th. Finally, Imperial Capital restated an “in-line” rating and issued a $56.00 price objective (up previously from $51.00) on shares of FLIR Systems in a report on Wednesday, February 20th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $62.43.
FLIR stock traded down $0.47 during midday trading on Monday, reaching $48.33. The stock had a trading volume of 687,080 shares, compared to its average volume of 659,576. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.61 and a current ratio of 2.45. The firm has a market capitalization of $6.54 billion, a P/E ratio of 21.77 and a beta of 1.13. FLIR Systems has a 52-week low of $40.52 and a 52-week high of $63.88.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 24th will be issued a $0.17 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.41%. FLIR Systems’s payout ratio is currently 30.63%.
In other FLIR Systems news, Director Michael T. Smith sold 11,290 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $50.75, for a total value of $572,967.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jeffrey Frank sold 21,705 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $51.62, for a total value of $1,120,412.10. Following the completion of the sale, the vice president now directly owns 47,344 shares of the company’s stock, valued at $2,443,897.28. The disclosure for this sale can be found here. Insiders sold a total of 102,521 shares of company stock worth $5,250,489 in the last 90 days. 2.00% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc increased its stake in shares of FLIR Systems by 2.0% in the 3rd quarter. Vanguard Group Inc now owns 14,826,308 shares of the scientific and technical instruments company’s stock worth $911,374,000 after acquiring an additional 290,026 shares during the last quarter. BlackRock Inc. increased its position in shares of FLIR Systems by 1.5% during the 4th quarter. BlackRock Inc. now owns 9,967,753 shares of the scientific and technical instruments company’s stock worth $433,996,000 after purchasing an additional 150,819 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of FLIR Systems by 9.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,382,669 shares of the scientific and technical instruments company’s stock worth $147,281,000 after purchasing an additional 292,141 shares during the last quarter. Geode Capital Management LLC increased its position in shares of FLIR Systems by 6.0% during the 4th quarter. Geode Capital Management LLC now owns 2,162,798 shares of the scientific and technical instruments company’s stock worth $94,034,000 after purchasing an additional 122,436 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its position in shares of FLIR Systems by 67.1% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,660,531 shares of the scientific and technical instruments company’s stock worth $72,300,000 after purchasing an additional 667,024 shares during the last quarter. 90.51% of the stock is owned by institutional investors and hedge funds.
About FLIR Systems
FLIR Systems, Inc designs, develops, markets, and distributes thermal imaging systems, visible-light imaging systems, locater systems, measurement and diagnostic systems, and threat-detection solutions worldwide. The company operates in three segments: Industrial Business Unit, Government and Defense Business Unit, and Commercial Business Unit.
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