Brokerages forecast that KLX Inc. (NASDAQ:KLXI) will post sales of $469.25 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for KLX’s earnings, with estimates ranging from $459.00 million to $479.50 million. KLX posted sales of $411.30 million during the same quarter last year, which suggests a positive year over year growth rate of 14.1%. The business is scheduled to issue its next earnings report on Wednesday, May 23rd.
According to Zacks, analysts expect that KLX will report full year sales of $2.01 billion for the current year, with estimates ranging from $2.00 billion to $2.03 billion. For the next year, analysts expect that the company will post sales of $2.14 billion per share, with estimates ranging from $2.11 billion to $2.17 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow KLX.
Get KLX alerts:KLX (NASDAQ:KLXI) last issued its earnings results on Tuesday, March 6th. The aerospace company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.19. KLX had a net margin of 3.07% and a return on equity of 6.03%. The firm had revenue of $442.20 million for the quarter, compared to analyst estimates of $450.87 million. The company’s quarterly revenue was up 18.4% compared to the same quarter last year.
A number of brokerages have weighed in on KLXI. Zacks Investment Research lowered shares of KLX from a “buy” rating to a “hold” rating in a research report on Saturday, May 12th. BidaskClub lowered shares of KLX from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 3rd. TheStreet lowered shares of KLX from a “b” rating to a “c+” rating in a report on Tuesday, March 6th. SunTrust Banks lowered shares of KLX from a “buy” rating to a “hold” rating and set a $53.00 price target on the stock. in a report on Wednesday, May 2nd. Finally, Jefferies Group upgraded shares of KLX from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $65.75.
Shares of KLX opened at $73.09 on Friday, Marketbeat reports. KLX has a fifty-two week low of $45.73 and a fifty-two week high of $82.50. The company has a current ratio of 7.06, a quick ratio of 2.17 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of 26.58, a P/E/G ratio of 3.12 and a beta of 1.17.
Several large investors have recently modified their holdings of KLXI. Millennium Management LLC lifted its holdings in shares of KLX by 537.9% during the first quarter. Millennium Management LLC now owns 1,809,642 shares of the aerospace company’s stock worth $128,593,000 after purchasing an additional 1,525,961 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of KLX by 17,282.9% during the fourth quarter. Victory Capital Management Inc. now owns 673,762 shares of the aerospace company’s stock worth $45,985,000 after purchasing an additional 669,886 shares during the period. Macquarie Group Ltd. lifted its holdings in shares of KLX by 88.4% during the fourth quarter. Macquarie Group Ltd. now owns 1,329,922 shares of the aerospace company’s stock worth $90,767,000 after purchasing an additional 623,959 shares during the period. BlackRock Inc. lifted its holdings in shares of KLX by 5.0% during the first quarter. BlackRock Inc. now owns 7,220,359 shares of the aerospace company’s stock worth $513,079,000 after purchasing an additional 343,732 shares during the period. Finally, First Eagle Investment Management LLC lifted its holdings in shares of KLX by 21.2% during the first quarter. First Eagle Investment Management LLC now owns 1,119,280 shares of the aerospace company’s stock worth $79,536,000 after purchasing an additional 195,900 shares during the period. Institutional investors own 99.31% of the company’s stock.
KLX Company Profile
KLX Inc, together with its subsidiaries, provides aerospace fasteners, consumables, and logistics services worldwide. The Aerospace Solutions Group segment distributes bolts, clips, hinges, rings, screws, carbon-faced seals, gaskets, O-rings, and others; chemicals, sealants and adhesives, lubricants, paints, cleaners, and degreasers; Honeywell proprietary parts; bearings, tooling, electrical components, and clamps; and hydraulics, pneumatics, fluid connectors, filtration, electrical control systems seals, and compressors and engineered systems.
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