Zacks: Analysts Anticipate FLIR Systems, Inc. (FLIR) Will Announce Quarterly Sales of $446.22 Million

Wall Street brokerages forecast that FLIR Systems, Inc. (NASDAQ:FLIR) will post sales of $446.22 million for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for FLIR Systems’ earnings, with the lowest sales estimate coming in at $439.00 million and the highest estimate coming in at $457.20 million. FLIR Systems posted sales of $464.71 million during the same quarter last year, which would indicate a negative year over year growth rate of 4%. The business is expected to announce its next earnings report on Wednesday, October 24th.

On average, analysts expect that FLIR Systems will report full-year sales of $1.81 billion for the current financial year, with estimates ranging from $1.80 billion to $1.83 billion. For the next year, analysts anticipate that the company will report sales of $1.90 billion per share, with estimates ranging from $1.87 billion to $1.93 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow FLIR Systems.

FLIR Systems (NASDAQ:FLIR) last posted its quarterly earnings data on Wednesday, July 25th. The scientific and technical instruments company reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.06. FLIR Systems had a net margin of 6.70% and a return on equity of 16.44%. The business had revenue of $452.70 million during the quarter, compared to analyst estimates of $429.12 million. During the same quarter last year, the firm posted $0.42 earnings per share. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year.

A number of research analysts recently issued reports on the stock. BidaskClub downgraded shares of FLIR Systems from a “buy” rating to a “hold” rating in a research note on Thursday. William Blair upgraded shares of FLIR Systems from a “market perform” rating to an “outperform” rating in a research note on Monday, August 20th. Imperial Capital reiterated an “outperform” rating and issued a $60.00 price target (up previously from $53.00) on shares of FLIR Systems in a research note on Wednesday, August 1st. Stephens lifted their price target on shares of FLIR Systems from $61.00 to $69.00 and gave the stock an “overweight” rating in a research note on Monday, July 30th. Finally, Needham & Company LLC lifted their price target on shares of FLIR Systems from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, July 26th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $56.75.

Shares of FLIR Systems stock opened at $61.11 on Friday. FLIR Systems has a 52-week low of $38.67 and a 52-week high of $63.88. The company has a quick ratio of 2.85, a current ratio of 4.07 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $8.43 billion, a P/E ratio of 32.51 and a beta of 0.67.

The company also recently declared a quarterly dividend, which was paid on Friday, September 7th. Investors of record on Friday, August 24th were paid a $0.16 dividend. The ex-dividend date was Thursday, August 23rd. This represents a $0.64 dividend on an annualized basis and a yield of 1.05%. FLIR Systems’s dividend payout ratio is currently 34.04%.

In other news, SVP Todd M. Duchene sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $60.01, for a total transaction of $60,010.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Todd M. Duchene sold 3,844 shares of the business’s stock in a transaction that occurred on Thursday, July 19th. The stock was sold at an average price of $54.50, for a total transaction of $209,498.00. Following the sale, the senior vice president now owns 37,453 shares of the company’s stock, valued at approximately $2,041,188.50. The disclosure for this sale can be found here. Insiders have sold a total of 133,264 shares of company stock valued at $8,081,353 in the last 90 days. Insiders own 2.00% of the company’s stock.

Several large investors have recently modified their holdings of FLIR. Robeco Institutional Asset Management B.V. lifted its position in shares of FLIR Systems by 66.6% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 12,754 shares of the scientific and technical instruments company’s stock worth $637,000 after buying an additional 5,098 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in FLIR Systems by 6.2% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 711,507 shares of the scientific and technical instruments company’s stock valued at $35,583,000 after buying an additional 41,284 shares during the period. Rockefeller Capital Management L.P. acquired a new position in FLIR Systems in the 1st quarter valued at $442,000. Oppenheimer Asset Management Inc. increased its stake in FLIR Systems by 1.8% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 58,585 shares of the scientific and technical instruments company’s stock valued at $2,930,000 after buying an additional 1,026 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new position in FLIR Systems in the 1st quarter valued at $2,488,000. Institutional investors and hedge funds own 90.58% of the company’s stock.

About FLIR Systems

FLIR Systems, Inc designs, develops, manufactures, and markets thermal imaging systems, visible-light imaging systems, locater systems, measurement and diagnostic systems, and threat-detection solutions worldwide. The company operates in six segments: Surveillance, Instruments, Security, OEM & Emerging Markets, Maritime, and Detection.

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