Why HEICO Corporation Shares Bounced

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What: Shares of HEICO Corporation (NYSE: HEI  ) jumped as much as 12% today after beating estimates in its earnings report, and raising its guidance.

So what: The aerospace manufacturer delivered a 24% increase in net income, good for an EPS of $0.44, or $0.04 above the analyst consensus. Revenues grew 10%, to $237.7 million, cruising past estimates at $229.2 million. CEO Laurans Mendelson credited the strong quarter on "organic growth and the successful integration of our fiscal 2012 acquisitions."  Heico also posted guidance above estimates

Now what: The strong results for the FAA-approved aerospace supplier came in spite of recent government cutbacks from sequestration, demonstrating Heico's strength going forward. With a P/E of 30 the price looks a little high, but Heico seems well positioned for stable earnings and revenue growth.

Want more info on HEICO Corporation? Add the company to your Watchlist by clicking right here.

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Related Tickers

9/30/2016 4:02 PM
HEI $69.20 Up +0.44 +0.64%
Heico CAPS Rating: *****