SunTrust Banks Analysts Lift Earnings Estimates for FLIR Systems, Inc. (NASDAQ:FLIR)

FLIR Systems, Inc. (NASDAQ:FLIR) – SunTrust Banks upped their FY2018 earnings per share estimates for shares of FLIR Systems in a research report issued to clients and investors on Monday, Zacks Investment Research reports. SunTrust Banks analyst M. Ciarmoli now forecasts that the scientific and technical instruments company will post earnings per share of $2.29 for the year, up from their previous estimate of $2.15. SunTrust Banks currently has a “Buy” rating and a $43.00 target price on the stock. SunTrust Banks also issued estimates for FLIR Systems’ FY2019 earnings at $2.50 EPS.

Several other brokerages have also recently issued reports on FLIR. Zacks Investment Research upgraded FLIR Systems from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research note on Tuesday, January 9th. Needham & Company LLC restated a “buy” rating and set a $50.00 price objective (up previously from $42.00) on shares of FLIR Systems in a research note on Thursday, October 26th. Raymond James Financial upped their price objective on FLIR Systems to $60.00 and gave the company a “strong-buy” rating in a research note on Wednesday, October 25th. ValuEngine cut FLIR Systems from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Robert W. Baird reissued a “hold” rating and issued a $34.00 price objective on shares of FLIR Systems in a report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $46.83.

Shares of FLIR Systems (FLIR) traded up $0.06 during midday trading on Tuesday, reaching $50.34. The company’s stock had a trading volume of 1,024,000 shares, compared to its average volume of 897,470. FLIR Systems has a 12-month low of $33.75 and a 12-month high of $50.84. The firm has a market capitalization of $7,020.00, a PE ratio of 31.86 and a beta of 0.63. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.48 and a quick ratio of 2.36.

FLIR Systems (NASDAQ:FLIR) last released its quarterly earnings results on Wednesday, October 25th. The scientific and technical instruments company reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.04. FLIR Systems had a return on equity of 14.30% and a net margin of 12.30%. The business had revenue of $464.70 million for the quarter, compared to analysts’ expectations of $446.06 million. During the same quarter in the previous year, the firm posted $0.48 earnings per share. The company’s revenue was up 14.7% compared to the same quarter last year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in FLIR. Schwab Charles Investment Management Inc. raised its holdings in shares of FLIR Systems by 2.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 652,207 shares of the scientific and technical instruments company’s stock worth $22,606,000 after acquiring an additional 18,041 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of FLIR Systems by 3.4% during the second quarter. Principal Financial Group Inc. now owns 217,884 shares of the scientific and technical instruments company’s stock worth $7,551,000 after acquiring an additional 7,193 shares in the last quarter. Swiss National Bank raised its holdings in shares of FLIR Systems by 3.0% during the second quarter. Swiss National Bank now owns 496,629 shares of the scientific and technical instruments company’s stock worth $17,213,000 after acquiring an additional 14,300 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of FLIR Systems by 66.9% during the second quarter. JPMorgan Chase & Co. now owns 633,869 shares of the scientific and technical instruments company’s stock worth $21,969,000 after acquiring an additional 254,109 shares in the last quarter. Finally, Commonwealth Bank of Australia raised its holdings in shares of FLIR Systems by 14.0% during the second quarter. Commonwealth Bank of Australia now owns 3,250 shares of the scientific and technical instruments company’s stock worth $111,000 after acquiring an additional 400 shares in the last quarter. Institutional investors own 92.95% of the company’s stock.

In other news, Director Steven E. Wynne sold 11,200 shares of the firm’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $47.34, for a total transaction of $530,208.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Todd M. Duchene sold 9,000 shares of the firm’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $47.00, for a total value of $423,000.00. Following the sale, the senior vice president now directly owns 29,767 shares of the company’s stock, valued at $1,399,049. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,036 shares of company stock valued at $1,039,316. 3.00% of the stock is currently owned by corporate insiders.

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FLIR Systems Company Profile

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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Earnings History and Estimates for FLIR Systems (NASDAQ:FLIR)

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