FLIR Systems, Inc. (NASDAQ:FLIR) – Seaport Global Securities reduced their Q4 2017 EPS estimates for shares of FLIR Systems in a research note issued on Wednesday, according to Zacks Investment Research. Seaport Global Securities analyst J. Sullivan now expects that the scientific and technical instruments company will earn $0.57 per share for the quarter, down from their prior estimate of $0.61. Seaport Global Securities also issued estimates for FLIR Systems’ Q1 2018 earnings at $0.44 EPS, Q2 2018 earnings at $0.45 EPS, Q3 2018 earnings at $0.58 EPS and Q4 2018 earnings at $0.69 EPS.
FLIR has been the subject of several other research reports. Needham & Company LLC lifted their price target on FLIR Systems from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, September 6th. Zacks Investment Research upgraded FLIR Systems from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research report on Thursday, July 27th. SunTrust Banks, Inc. lifted their price target on FLIR Systems from $37.00 to $43.00 and gave the stock a “hold” rating in a research report on Thursday, October 26th. Raymond James Financial, Inc. lifted their price target on FLIR Systems to $60.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, October 25th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $34.00 price target on shares of FLIR Systems in a research report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and three have given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $46.33.
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Shares of FLIR Systems (NASDAQ FLIR) traded up $0.39 during mid-day trading on Friday, reaching $46.73. The company’s stock had a trading volume of 616,800 shares, compared to its average volume of 1,241,300. The stock has a market cap of $6,475.56, a price-to-earnings ratio of 25.68 and a beta of 0.63. FLIR Systems has a 1-year low of $33.69 and a 1-year high of $48.06. 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 announced its earnings results on Wednesday, October 25th. The scientific and technical instruments company reported $0.52 EPS for the quarter, topping the Zacks’ 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 company had revenue of $464.70 million for the quarter, compared to analysts’ expectations of $446.06 million. During the same period last year, the firm earned $0.48 EPS. FLIR Systems’s revenue for the quarter was up 14.7% compared to the same quarter last year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 24th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.28%. The ex-dividend date is Wednesday, November 22nd. FLIR Systems’s payout ratio is currently 37.74%.
In other FLIR Systems news, VP Brian E. Harding sold 1,836 shares of the firm’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $46.90, for a total value of $86,108.40. Following the completion of the sale, the vice president now owns 6,646 shares of the company’s stock, valued at $311,697.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Earl R. Lewis sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $38.22, for a total transaction of $764,400.00. Following the completion of the sale, the director now directly owns 509,379 shares of the company’s stock, valued at approximately $19,468,465.38. The disclosure for this sale can be found here. In the last three months, insiders sold 303,356 shares of company stock valued at $11,799,206. 3.00% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN raised its stake in shares of FLIR Systems by 29.6% during the third quarter. Wells Fargo & Company MN now owns 891,813 shares of the scientific and technical instruments company’s stock valued at $34,700,000 after acquiring an additional 203,425 shares in the last quarter. Legal & General Group Plc raised its stake in shares of FLIR Systems by 17.3% during the third quarter. Legal & General Group Plc now owns 244,864 shares of the scientific and technical instruments company’s stock valued at $9,528,000 after acquiring an additional 36,118 shares in the last quarter. Eagle Boston Investment Management Inc. raised its stake in shares of FLIR Systems by 7.6% during the third quarter. Eagle Boston Investment Management Inc. now owns 50,193 shares of the scientific and technical instruments company’s stock valued at $2,057,000 after acquiring an additional 3,561 shares in the last quarter. Eagle Asset Management Inc. raised its stake in shares of FLIR Systems by 9.4% during the third quarter. Eagle Asset Management Inc. now owns 873,720 shares of the scientific and technical instruments company’s stock valued at $35,822,000 after acquiring an additional 74,734 shares in the last quarter. Finally, Camden National Bank raised its stake in shares of FLIR Systems by 1.8% during the third quarter. Camden National Bank now owns 223,886 shares of the scientific and technical instruments company’s stock valued at $8,711,000 after acquiring an additional 4,011 shares in the last quarter. 90.83% of the stock is owned by hedge funds and other institutional investors.
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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