Analysts expect that FLIR Systems, Inc. (NASDAQ:FLIR) will report sales of $490.72 million for the current fiscal quarter, Zacks reports. Four analysts have made estimates for FLIR Systems’ earnings. The highest sales estimate is $502.00 million and the lowest is $485.95 million. FLIR Systems reported sales of $489.04 million during the same quarter last year, which indicates a positive year-over-year growth rate of 0.3%. The firm is scheduled to announce its next earnings report on Thursday, February 25th.
On average, analysts expect that FLIR Systems will report full year sales of $1.89 billion for the current fiscal year, with estimates ranging from $1.89 billion to $1.90 billion. For the next fiscal year, analysts anticipate that the business will post sales of $1.91 billion, with estimates ranging from $1.86 billion to $1.99 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover FLIR Systems.
FLIR Systems (NASDAQ:FLIR) last posted its quarterly earnings results on Friday, October 30th. The scientific and technical instruments company reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.09. The business had revenue of $466.40 million during the quarter, compared to the consensus estimate of $469.05 million. FLIR Systems had a net margin of 7.36% and a return on equity of 16.85%. FLIR Systems’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.59 earnings per share.
A number of equities research analysts recently weighed in on the stock. Canaccord Genuity reissued a “hold” rating and set a $54.00 price target on shares of FLIR Systems in a research note on Tuesday, January 5th. Berenberg Bank downgraded shares of FLIR Systems from a “buy” rating to a “hold” rating in a research note on Thursday, January 7th. William Blair downgraded shares of FLIR Systems from an “outperform” rating to a “market perform” rating in a research note on Monday, January 4th. Needham & Company LLC downgraded shares of FLIR Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, January 5th. Finally, Raymond James downgraded shares of FLIR Systems from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, January 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $51.11.
FLIR opened at $53.38 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.52 and a quick ratio of 1.55. The company has a market cap of $7.00 billion, a price-to-earnings ratio of 50.84 and a beta of 1.52. The firm has a 50 day simple moving average of $49.10 and a 200 day simple moving average of $40.42. FLIR Systems has a fifty-two week low of $23.85 and a fifty-two week high of $59.44.
In related news, Director Earl R. Lewis sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $35.93, for a total transaction of $1,077,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.58% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in FLIR. FMR LLC boosted its holdings in shares of FLIR Systems by 43,154.3% in the second quarter. FMR LLC now owns 2,832,293 shares of the scientific and technical instruments company’s stock valued at $114,906,000 after buying an additional 2,825,745 shares during the period. Ceredex Value Advisors LLC boosted its holdings in shares of FLIR Systems by 39.6% in the third quarter. Ceredex Value Advisors LLC now owns 2,466,500 shares of the scientific and technical instruments company’s stock valued at $88,424,000 after buying an additional 699,100 shares during the period. Truist Financial Corp boosted its holdings in shares of FLIR Systems by 1,266.7% in the third quarter. Truist Financial Corp now owns 640,119 shares of the scientific and technical instruments company’s stock valued at $22,947,000 after buying an additional 593,282 shares during the period. BlackRock Inc. boosted its holdings in shares of FLIR Systems by 3.7% in the third quarter. BlackRock Inc. now owns 10,718,829 shares of the scientific and technical instruments company’s stock valued at $384,268,000 after buying an additional 384,296 shares during the period. Finally, AXA S.A. acquired a new position in shares of FLIR Systems in the third quarter valued at approximately $12,823,000. Institutional investors own 88.66% of the company’s stock.
FLIR Systems Company Profile
FLIR Systems, Inc designs, develops, markets, and distributes thermal imaging systems, visible-light imaging systems, locater systems, measurement and diagnostic systems, and threat-detection solutions worldwide. The company operates in three segments: Industrial Business Unit, Government and Defense Business Unit, and Commercial Business Unit.
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