Why Heico Stock Is Falling After the Aerospace Supplier’s Earnings Beat Estimates

Aerospace aftermarket parts leader Heico reported better-than-expected fiscal third-quarter sales and earnings late Monday. Shares are down anyway because investors wanted more.

Heico stock was down about 5.3% in premarket trading at $159, while S&P 500 and Dow Jones Industrial Average futures are both up about 0.1%. Heico is also a high-expectations growth stock. Shares trade for about 46 times estimated 2024 earnings. What’s more, Heico has beaten Wall Street’s bottom-line earnings in eight of the past 10 quarters. Shares dropped the day following three of the quarterly beats.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

These Stocks Are Moving the Most Today: NIO, AT&T, Heico, 3M, Oracle, Best Buy, and MoreNIO's results miss estimates, AT&T and Verizon stocks are upgraded, Heico falls after its earnings report, and 3M's board has approved a $6 billion earplugs...
Source: MarketWatch - 🏆 3. / 97 Read more »

Heico Stock Falls After the Aerospace Supplier’s Earnings Beat Estimates. Here’s Why.The company reports fiscal third-quarter sales of about $723 million. Wall Street was looking for about $702 million.
Source: MarketWatch - 🏆 3. / 97 Read more »

Stock Market Today: Dow, Nasdaq Close Higher; 3M Stock RisesLive coverage of stocks and financial news, including the S&P 500, Dow and Nasdaq Composite.
Source: WSJ - 🏆 98. / 63 Read more »