Heroux Devtek Inc to Post FY2020 Earnings of $0.86 Per Share, Desjardins Forecasts (TSE:HRX)
Heroux Devtek Inc (TSE:HRX) – Stock analysts at Desjardins reduced their FY2020 earnings estimates for Heroux Devtek in a research note issued on Tuesday. Desjardins analyst B. Poirier now forecasts that the company will earn $0.86 per share for the year, down from their previous estimate of $0.88. Desjardins also issued estimates for Heroux Devtek’s FY2021 earnings at $0.97 EPS.
Heroux Devtek (TSE:HRX) last announced its quarterly earnings results on Thursday, May 25th. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.03. Heroux Devtek had a net margin of 7.36% and a return on equity of 10.20%. The firm had revenue of $120.89 million during the quarter, compared to analysts’ expectations of $121.50 million.
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HRX has been the subject of several other research reports. Raymond James Financial, Inc. upped their target price on Heroux Devtek from C$13.00 to C$13.25 and gave the stock a “market perform” rating in a research note on Wednesday. Scotiabank cut their target price on Heroux Devtek from C$15.00 to C$14.50 and set an “outperform” rating for the company in a research note on Tuesday. Finally, Royal Bank Of Canada initiated coverage on Heroux Devtek in a research note on Thursday, June 15th. They issued an “outperform” rating and a C$17.00 target price for the company. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of C$15.04.
Shares of Heroux Devtek (HRX) traded up 2.67% during mid-day trading on Thursday, reaching $13.07. 4,600 shares of the company were exchanged. The firm’s 50-day moving average is $13.76 and its 200-day moving average is $13.13. The company has a market capitalization of $472.22 million and a price-to-earnings ratio of 14.85. Heroux Devtek has a 12 month low of $11.06 and a 12 month high of $16.05.
About Heroux Devtek
Héroux-Devtek Inc engages in the design, development, manufacture, repair, and overhaul of aircraft landing gears, hydraulic flight control actuators, and fracture-critical components in Canada, the United States, the United Kingdom, and internationally. The company also manufactures and sells hydraulic systems, fluid filtration systems, electronic enclosures, heat exchangers, and cabinets for suppliers of airborne radar, electro-optic systems, and aircraft controls.
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