FLIR Systems (FLIR) Announces Quarterly Earnings Results

FLIR Systems (NASDAQ:FLIR) announced its quarterly earnings data on Wednesday. The scientific and technical instruments company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.60 by $0.02, MarketWatch Earnings reports. FLIR Systems had a net margin of 7.33% and a return on equity of 16.74%. The business had revenue of $448.50 million during the quarter, compared to analysts’ expectations of $463.91 million. During the same period in the previous year, the business posted $0.58 EPS. The business’s quarterly revenue was down 9.4% compared to the same quarter last year. FLIR Systems updated its FY 2019 guidance to $2.30-2.36 EPS and its FY19 guidance to $2.30-2.36 EPS.

FLIR opened at $51.85 on Thursday. The company has a quick ratio of 3.04, a current ratio of 4.21 and a debt-to-equity ratio of 0.22. FLIR Systems has a 1 year low of $40.52 and a 1 year high of $63.88. The firm has a market capitalization of $6.89 billion, a P/E ratio of 27.58 and a beta of 1.12.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 8th. Investors of record on Friday, February 22nd will be paid a $0.17 dividend. This is a boost from FLIR Systems’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 1.31%. FLIR Systems’s payout ratio is currently 34.04%.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bessemer Group Inc. lifted its stake in shares of FLIR Systems by 18.2% in the 4th quarter. Bessemer Group Inc. now owns 1,454 shares of the scientific and technical instruments company’s stock valued at $63,000 after purchasing an additional 224 shares during the period. Atlas Capital Advisors LLC increased its holdings in FLIR Systems by 493.0% in the 4th quarter. Atlas Capital Advisors LLC now owns 2,805 shares of the scientific and technical instruments company’s stock worth $122,000 after acquiring an additional 2,332 shares in the last quarter. Stephens Inc. AR increased its holdings in FLIR Systems by 31.1% in the 4th quarter. Stephens Inc. AR now owns 2,840 shares of the scientific and technical instruments company’s stock worth $124,000 after acquiring an additional 673 shares in the last quarter. Zions Bancorporation purchased a new stake in FLIR Systems in the 3rd quarter worth $130,000. Finally, Ffcm LLC increased its holdings in FLIR Systems by 660.2% in the 4th quarter. Ffcm LLC now owns 3,193 shares of the scientific and technical instruments company’s stock worth $139,000 after acquiring an additional 2,773 shares in the last quarter. Hedge funds and other institutional investors own 90.84% of the company’s stock.

Several analysts have commented on FLIR shares. Zacks Investment Research upgraded shares of FLIR Systems from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. BidaskClub upgraded shares of FLIR Systems from a “sell” rating to a “hold” rating in a research note on Saturday, December 22nd. Imperial Capital decreased their target price on shares of FLIR Systems from $60.00 to $51.00 and set an “in-line” rating for the company in a research note on Thursday, November 1st. They noted that the move was a valuation call. Raymond James decreased their target price on shares of FLIR Systems from $70.00 to $65.00 and set a “strong-buy” rating for the company in a research note on Friday, January 11th. Finally, ValuEngine cut shares of FLIR Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, October 31st. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $61.57.

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About FLIR Systems

FLIR Systems, Inc designs, develops, manufactures, and markets thermal imaging systems, visible-light imaging systems, locater systems, measurement and diagnostic systems, and threat-detection solutions worldwide. The company operates in six segments: Surveillance, Instruments, Security, OEM & Emerging Markets, Maritime, and Detection.

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Earnings History for FLIR Systems (NASDAQ:FLIR)

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