Astronics (NASDAQ:ATRO) Posts Earnings Results, Misses Expectations By $0.13 EPS

Astronics (NASDAQ:ATRO) issued its quarterly earnings data on Thursday. The aerospace company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.13), Zacks reports. Astronics had a negative return on equity of 5.93% and a negative net margin of 3.51%. The firm had revenue of $198.11 million for the quarter, compared to analyst estimates of $191.19 million. During the same period in the previous year, the business earned ($0.37) EPS. Astronics updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.

Astronics Stock Performance

NASDAQ ATRO traded down $1.74 on Friday, reaching $20.08. The stock had a trading volume of 408,382 shares, compared to its average volume of 145,056. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.27 and a current ratio of 2.59. Astronics has a 12-month low of $14.11 and a 12-month high of $23.74. The business’s 50-day moving average price is $20.48 and its 200 day moving average price is $18.91. The stock has a market cap of $699.59 million, a P/E ratio of -25.69 and a beta of 1.87.

Wall Street Analysts Forecast Growth

Separately, Truist Financial lifted their price target on Astronics from $20.00 to $22.00 and gave the stock a “hold” rating in a report on Friday.

About Astronics

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. The company operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, system certification, and other products.