$2.01 Billion in Sales Expected for Huntington Ingalls Industries Inc (HII) This Quarter

Wall Street analysts expect Huntington Ingalls Industries Inc (NYSE:HII) to report sales of $2.01 billion for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Huntington Ingalls Industries’ earnings. The highest sales estimate is $2.02 billion and the lowest is $2.00 billion. Huntington Ingalls Industries posted sales of $1.92 billion during the same quarter last year, which would indicate a positive year over year growth rate of 4.7%. The firm is expected to announce its next earnings report on Thursday, February 15th.

According to Zacks, analysts expect that Huntington Ingalls Industries will report full year sales of $2.01 billion for the current year, with estimates ranging from $7.44 billion to $7.46 billion. For the next financial year, analysts forecast that the business will report sales of $7.56 billion per share. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Huntington Ingalls Industries.

Huntington Ingalls Industries (NYSE:HII) last released its quarterly earnings data on Wednesday, November 8th. The aerospace company reported $3.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.78 by $0.49. Huntington Ingalls Industries had a return on equity of 33.37% and a net margin of 8.31%. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period last year, the firm posted $2.27 earnings per share. The business’s revenue was up 10.7% on a year-over-year basis.

A number of analysts have recently issued reports on the company. Zacks Investment Research raised Huntington Ingalls Industries from a “hold” rating to a “buy” rating and set a $282.00 price objective for the company in a research report on Friday, November 10th. Citigroup reaffirmed a “neutral” rating and issued a $233.00 price objective (up from $224.00) on shares of Huntington Ingalls Industries in a research report on Monday, October 9th. ValuEngine raised Huntington Ingalls Industries from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Cowen reissued a “hold” rating and set a $225.00 price target on shares of Huntington Ingalls Industries in a report on Friday, October 6th. Finally, Credit Suisse Group reissued a “neutral” rating and set a $241.00 price target (up from $211.00) on shares of Huntington Ingalls Industries in a report on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Huntington Ingalls Industries currently has an average rating of “Hold” and an average target price of $220.29.

Huntington Ingalls Industries (NYSE HII) traded down $12.28 on Wednesday, hitting $235.15. The stock had a trading volume of 701,800 shares, compared to its average volume of 1,458,270. Huntington Ingalls Industries has a 52 week low of $183.42 and a 52 week high of $253.44. The firm has a market capitalization of $10,640.00, a PE ratio of 17.71, a price-to-earnings-growth ratio of 1.33 and a beta of 1.18. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.38 and a current ratio of 1.52.

Huntington Ingalls Industries announced that its board has authorized a stock buyback program on Tuesday, November 7th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the aerospace company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

In other news, Director Philip M. Bilden purchased 2,200 shares of the company’s stock in a transaction that occurred on Friday, November 24th. The stock was acquired at an average cost of $234.11 per share, with a total value of $515,042.00. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP D R. Wyatt sold 800 shares of Huntington Ingalls Industries stock in a transaction on Monday, November 13th. The shares were sold at an average price of $240.33, for a total value of $192,264.00. Following the completion of the transaction, the vice president now directly owns 19,065 shares of the company’s stock, valued at $4,581,891.45. The disclosure for this sale can be found here. Company insiders own 2.22% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its holdings in Huntington Ingalls Industries by 2.7% in the 2nd quarter. BlackRock Inc. now owns 4,572,209 shares of the aerospace company’s stock valued at $851,165,000 after acquiring an additional 120,171 shares in the last quarter. State Street Corp raised its holdings in Huntington Ingalls Industries by 0.4% in the 2nd quarter. State Street Corp now owns 2,921,169 shares of the aerospace company’s stock valued at $543,803,000 after acquiring an additional 12,014 shares in the last quarter. FMR LLC raised its holdings in Huntington Ingalls Industries by 4.1% in the 2nd quarter. FMR LLC now owns 2,881,190 shares of the aerospace company’s stock valued at $536,363,000 after acquiring an additional 114,098 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Huntington Ingalls Industries by 6.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 928,427 shares of the aerospace company’s stock valued at $172,836,000 after acquiring an additional 53,288 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in Huntington Ingalls Industries by 4.7% in the 4th quarter. Bank of Montreal Can now owns 855,162 shares of the aerospace company’s stock valued at $201,561,000 after acquiring an additional 38,150 shares in the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

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About Huntington Ingalls Industries

Huntington Ingalls Industries, Inc is a military shipbuilding company and a provider of professional services to partners in government and industry. The Company’s business consists of the design, construction, repair and maintenance of nuclear-powered ships and non-nuclear ships for the United States Navy and coastal defense surface ships for the United States Coast Guard, as well as the refueling and overhaul and inactivation of nuclear-powered ships for the United States Navy.

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