FLIR Systems, Inc. (NASDAQ:FLIR) – William Blair lowered their Q3 2017 earnings per share (EPS) estimates for shares of FLIR Systems in a research report issued on Wednesday. William Blair analyst J. Ho now anticipates that the scientific and technical instruments company will post earnings per share of $0.48 for the quarter, down from their previous forecast of $0.49.
FLIR Systems (NASDAQ:FLIR) last announced its earnings results on Wednesday, July 26th. The scientific and technical instruments company reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.01. FLIR Systems had a net margin of 12.44% and a return on equity of 13.55%. The firm had revenue of $434.12 million for the quarter, compared to analysts’ expectations of $437.32 million. During the same quarter in the previous year, the business posted $0.37 EPS. The company’s quarterly revenue was up 7.8% on a year-over-year basis.
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Several other equities analysts have also commented on the company. Zacks Investment Research lowered FLIR Systems from a “buy” rating to a “hold” rating in a research note on Friday. BidaskClub upgraded FLIR Systems from a “sell” rating to a “hold” rating in a research note on Monday, July 17th. Raymond James Financial, Inc. upgraded FLIR Systems from a “market perform” rating to a “strong-buy” rating and set a $43.00 price target on the stock in a research note on Monday, July 10th. UBS AG upgraded FLIR Systems from a “market perform” rating to a “strong-buy” rating in a research note on Monday, July 10th. Finally, Stephens initiated coverage on FLIR Systems in a research note on Friday, July 7th. They set an “overweight” rating on the stock. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $38.13.
Shares of FLIR Systems (NASDAQ FLIR) opened at 36.50 on Friday. The company has a market cap of $4.98 billion, a PE ratio of 24.32 and a beta of 0.58. The stock’s 50 day moving average is $36.30 and its 200-day moving average is $36.36. FLIR Systems has a one year low of $28.26 and a one year high of $38.94.
A number of institutional investors have recently bought and sold shares of the stock. Perigon Wealth Management LLC raised its position in FLIR Systems by 337.0% in the fourth quarter. Perigon Wealth Management LLC now owns 15,394 shares of the scientific and technical instruments company’s stock valued at $563,000 after buying an additional 11,871 shares during the period. Teachers Advisors LLC raised its position in FLIR Systems by 4.7% in the fourth quarter. Teachers Advisors LLC now owns 169,580 shares of the scientific and technical instruments company’s stock valued at $6,137,000 after buying an additional 7,567 shares during the period. Kentucky Retirement Systems bought a new position in FLIR Systems during the fourth quarter valued at about $357,000. Chevy Chase Trust Holdings Inc. raised its position in FLIR Systems by 26.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 1,926,793 shares of the scientific and technical instruments company’s stock valued at $69,904,000 after buying an additional 406,331 shares during the period. Finally, Contravisory Investment Management Inc. raised its position in FLIR Systems by 19.5% in the first quarter. Contravisory Investment Management Inc. now owns 9,971 shares of the scientific and technical instruments company’s stock valued at $362,000 after buying an additional 1,624 shares during the period. Institutional investors own 92.10% of the company’s stock.
In other FLIR Systems news, SVP Travis D. Merrill sold 4,000 shares of FLIR Systems stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $37.23, for a total value of $148,920.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Earl R. Lewis sold 15,000 shares of FLIR Systems stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $37.26, for a total value of $558,900.00. Following the completion of the transaction, the director now owns 551,234 shares in the company, valued at approximately $20,538,978.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,771 shares of company stock worth $2,625,195. Insiders own 3.00% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Friday, August 25th will be paid a dividend of $0.15 per share. The ex-dividend date is Wednesday, August 23rd. This represents a $0.60 annualized dividend and a dividend yield of 1.64%. FLIR Systems’s dividend payout ratio is currently 38.46%.
About FLIR Systems
FLIR Systems, Inc (FLIR) designs, develops, markets and distributes thermal imaging systems, visible-light imaging systems, locater systems, measurement and diagnostic systems and threat-detection solutions. The Company’s segments include Surveillance, Instruments, Security, OEM & Emerging Markets, Maritime and Detection.
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