Brokerages Anticipate Huntington Ingalls Industries Inc (NYSE:HII) Will Announce Quarterly Sales of $2.20 Billion

Wall Street brokerages expect Huntington Ingalls Industries Inc (NYSE:HII) to post sales of $2.20 billion for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Huntington Ingalls Industries’ earnings, with estimates ranging from $2.13 billion to $2.24 billion. Huntington Ingalls Industries reported sales of $2.08 billion in the same quarter last year, which indicates a positive year over year growth rate of 5.8%. The company is expected to issue its next earnings report before the market opens on Thursday, November 7th.

According to Zacks, analysts expect that Huntington Ingalls Industries will report full year sales of $8.76 billion for the current year, with estimates ranging from $8.66 billion to $8.82 billion. For the next fiscal year, analysts forecast that the firm will report sales of $8.95 billion, with estimates ranging from $8.63 billion to $9.16 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Huntington Ingalls Industries.

Huntington Ingalls Industries (NYSE:HII) last issued its earnings results on Thursday, August 1st. The aerospace company reported $3.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.56 by ($0.49). The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.13 billion. Huntington Ingalls Industries had a net margin of 8.04% and a return on equity of 42.07%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the business posted $5.40 EPS.

HII has been the topic of several recent research reports. Alembic Global Advisors raised shares of Huntington Ingalls Industries from a “neutral” rating to an “overweight” rating in a research note on Monday, August 5th. Bank of America reduced their target price on shares of Huntington Ingalls Industries from $305.00 to $275.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Buckingham Research reduced their target price on shares of Huntington Ingalls Industries from $295.00 to $265.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, ValuEngine raised shares of Huntington Ingalls Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. Huntington Ingalls Industries has an average rating of “Buy” and an average target price of $243.67.

Shares of NYSE HII traded up $3.56 during mid-day trading on Monday, hitting $220.72. The company’s stock had a trading volume of 276,000 shares, compared to its average volume of 312,915. The stock has a market cap of $8.94 billion, a price-to-earnings ratio of 11.56 and a beta of 1.18. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.12 and a quick ratio of 1.05. Huntington Ingalls Industries has a one year low of $173.80 and a one year high of $242.05. The company’s fifty day simple moving average is $212.73 and its 200-day simple moving average is $215.46.

In related news, VP Jerri F. Dickseski sold 1,874 shares of the stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $205.00, for a total value of $384,170.00. Following the sale, the vice president now directly owns 33,888 shares in the company, valued at approximately $6,947,040. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.65% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Zions Bancorporation N.A. raised its holdings in Huntington Ingalls Industries by 1,260.0% during the 2nd quarter. Zions Bancorporation N.A. now owns 136 shares of the aerospace company’s stock worth $31,000 after buying an additional 126 shares during the period. Doyle Wealth Management acquired a new stake in Huntington Ingalls Industries during the 2nd quarter worth approximately $38,000. HM Payson & Co. acquired a new stake in Huntington Ingalls Industries during the 2nd quarter worth approximately $42,000. CSat Investment Advisory L.P. raised its holdings in Huntington Ingalls Industries by 34.5% during the 2nd quarter. CSat Investment Advisory L.P. now owns 234 shares of the aerospace company’s stock worth $53,000 after buying an additional 60 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ acquired a new stake in Huntington Ingalls Industries during the 2nd quarter worth approximately $64,000. Institutional investors and hedge funds own 86.24% of the company’s stock.

Huntington Ingalls Industries Company Profile

Huntington Ingalls Industries, Inc engages in the designing, building, overhauling, and repairing military ships in the United States. It operates through three segments: Ingalls Shipbuilding, Newport News Shipbuilding, and Technical Solutions. The company is involved in the design and construction of non-nuclear ships comprising amphibious assault ships that include deck amphibious ships and transport dock ships; surface combatants; and national security cutters for the U.S.

See Also: What is dollar cost averaging (DCA)?

Get a free copy of the Zacks research report on Huntington Ingalls Industries (HII)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Huntington Ingalls Industries (NYSE:HII)

Receive News & Ratings for Huntington Ingalls Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Huntington Ingalls Industries and related companies with MarketBeat.com's FREE daily email newsletter.