Astronics Corporation (ATRO) Releases Earnings Results, Misses Expectations By $-0.07 EPS

Astronics Corporation (ATRO) reported quarterly earnings results on Wednesday, May-4-2016. The company reported $0.44 earnings per share for the quarter, missing the analyst consensus estimate by $-0.07. Analysts had a consensus of $0.51. The company posted revenue of $159.50 million in the period, compared to analysts expectations of $167.77 million. The company’s revenue was down -1.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 EPS.

Many Wall Street Analysts have commented on Astronics Corporation. Astronics Corporation was Downgraded by KeyBanc Capital Mkts to ” Sector Weight” on Apr 20, 2016. Company shares were Reiterated by Canaccord Genuity on Mar 16, 2016 to “Buy”, Firm has raised the Price Target to $ 45 from a previous price target of $40 .Shares were Reiterated by Dougherty & Company on Feb 18, 2016 to “Buy” and Lowered the Price Target to $ 50 from a previous price target of $55 .

Astronics Corporation opened for trading at $37.05 and hit $37.59 on the upside on Monday, eventually ending the session at $37.56, with a gain of 1.65% or 0.61 points. The heightened volatility saw the trading volume jump to 84,571 shares. Company has a market cap of $962 M.

In a different news, on Mar 4, 2016, James S Kramer (VP Luminescent Systems, Inc.) sold 4,030 shares at $35.39 per share price. According to the SEC, on Dec 17, 2015, John B Drenning (director) sold 6,000 shares at $38.00 per share price. On Dec 15, 2015, David C Burney (VP-FINANCE, CFO) sold 15,000 shares at $37.02 per share price, according to the Form-4 filing with the securities and exchange commission.

Astronics Corporation is a supplier of products to the aerospace defense consumer electronics and semi-conductor industries. Its products include advanced high-performance lighting and safety systems electrical power generation and distribution systems aircraft structures avionics products and automatic test systems. The Company has two segments: Aerospace and Test Systems. It designs and builds its products through its wholly owned subsidiaries Astronics Advanced Electronic Systems Corp. (AES); Astronics AeroSat Corporation (AeroSat); Ballard Technology Inc. (Ballard); DME Corporation (DME); Luminescent Systems Inc. (LSI); Luminescent Systems Canada Inc. (LSI Canada); Max-Viz Inc. (Max-Viz); Peco Inc. (Peco); PGA Electronic s.a. (PGA) Astronics Test Systems Inc. and Armstrong Aerospace Inc. (Armstrong). The Company has operations in the United States Canada and France.

Astronics Corporation

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