$1.94 Billion in Sales Expected for Huntington Ingalls Industries Inc (HII) This Quarter

Brokerages expect Huntington Ingalls Industries Inc (NYSE:HII) to report sales of $1.94 billion for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Huntington Ingalls Industries’ earnings, with estimates ranging from $1.90 billion to $1.99 billion. Huntington Ingalls Industries posted sales of $1.87 billion during the same quarter last year, which would indicate a positive year over year growth rate of 3.7%. The firm is scheduled to issue its next quarterly earnings report before the market opens on Thursday, May 2nd.

According to Zacks, analysts expect that Huntington Ingalls Industries will report full year sales of $8.43 billion for the current year, with estimates ranging from $8.37 billion to $8.46 billion. For the next year, analysts expect that the business will report sales of $8.70 billion, with estimates ranging from $8.63 billion to $8.76 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Huntington Ingalls Industries.

Huntington Ingalls Industries (NYSE:HII) last posted its quarterly earnings data on Thursday, February 14th. The aerospace company reported $4.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.45 by $0.49. The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.08 billion. Huntington Ingalls Industries had a net margin of 10.23% and a return on equity of 49.48%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the company posted $3.11 EPS.

A number of equities analysts recently commented on the stock. Zacks Investment Research upgraded shares of Huntington Ingalls Industries from a “sell” rating to a “hold” rating in a research report on Monday, March 11th. ValuEngine cut shares of Huntington Ingalls Industries from a “hold” rating to a “sell” rating in a research report on Thursday, February 28th. Barclays cut shares of Huntington Ingalls Industries from an “overweight” rating to an “underweight” rating and decreased their target price for the stock from $245.00 to $215.00 in a research report on Wednesday, January 23rd. Citigroup decreased their target price on shares of Huntington Ingalls Industries from $260.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, January 14th. Finally, Cowen reiterated a “buy” rating and issued a $260.00 target price on shares of Huntington Ingalls Industries in a research report on Monday, January 14th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $248.00.

Huntington Ingalls Industries stock opened at $220.90 on Monday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.88 and a current ratio of 0.95. The firm has a market cap of $9.20 billion, a PE ratio of 11.57 and a beta of 1.14. Huntington Ingalls Industries has a fifty-two week low of $173.80 and a fifty-two week high of $267.73.

In other Huntington Ingalls Industries news, VP Brian J. Cuccias sold 3,543 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $210.39, for a total value of $745,411.77. Following the sale, the vice president now owns 55,229 shares of the company’s stock, valued at approximately $11,619,629.31. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Jennifer R. Boykin sold 2,647 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $199.66, for a total transaction of $528,500.02. Following the completion of the sale, the vice president now directly owns 4,660 shares in the company, valued at approximately $930,415.60. The disclosure for this sale can be found here. In the last three months, insiders sold 11,909 shares of company stock worth $2,480,337. Insiders own 2.65% of the company’s stock.

A number of institutional investors have recently made changes to their positions in HII. Bank of New York Mellon Corp grew its holdings in Huntington Ingalls Industries by 30.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 511,604 shares of the aerospace company’s stock worth $131,012,000 after acquiring an additional 118,953 shares during the last quarter. Martingale Asset Management L P boosted its stake in shares of Huntington Ingalls Industries by 1.9% during the 3rd quarter. Martingale Asset Management L P now owns 173,055 shares of the aerospace company’s stock valued at $44,317,000 after purchasing an additional 3,206 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Huntington Ingalls Industries during the 3rd quarter valued at about $317,000. Pacer Advisors Inc. boosted its stake in shares of Huntington Ingalls Industries by 14.5% during the 3rd quarter. Pacer Advisors Inc. now owns 2,417 shares of the aerospace company’s stock valued at $619,000 after purchasing an additional 306 shares in the last quarter. Finally, Verition Fund Management LLC boosted its stake in shares of Huntington Ingalls Industries by 85.5% during the 3rd quarter. Verition Fund Management LLC now owns 2,220 shares of the aerospace company’s stock valued at $568,000 after purchasing an additional 1,023 shares in the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.

About Huntington Ingalls Industries

Huntington Ingalls Industries, Inc engages in the designing, building, overhauling, and repairing military ships in the United States. It operates through three segments: Ingalls Shipbuilding, Newport News Shipbuilding, and Technical Solutions. The company is involved in the design and construction of non-nuclear ships comprising amphibious assault ships that include deck amphibious ships and transport dock ships; surface combatants; and national security cutters for the U.S.

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