FLIR Systems, Inc. (NASDAQ:FLIR) declared a quarterly dividend on Tuesday, October 30th, RTT News reports. Stockholders of record on Friday, November 23rd will be given a dividend of 0.16 per share by the scientific and technical instruments company on Friday, December 7th. This represents a $0.64 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Wednesday, November 21st.
FLIR Systems has increased its dividend by an average of 14.5% annually over the last three years and has increased its dividend annually for the last 7 consecutive years. FLIR Systems has a payout ratio of 28.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect FLIR Systems to earn $2.39 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 26.8%.
FLIR Systems stock opened at $47.54 on Friday. The company has a market capitalization of $6.40 billion, a PE ratio of 21.23 and a beta of 1.10. FLIR Systems has a twelve month low of $45.00 and a twelve month high of $63.88. The company has a quick ratio of 3.04, a current ratio of 4.21 and a debt-to-equity ratio of 0.22.
FLIR Systems (NASDAQ:FLIR) last released its quarterly earnings results on Tuesday, October 30th. The scientific and technical instruments company reported $0.57 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.57. The company had revenue of $434.89 million during the quarter, compared to analysts’ expectations of $445.46 million. FLIR Systems had a net margin of 7.33% and a return on equity of 16.74%. The business’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.52 earnings per share. As a group, equities research analysts predict that FLIR Systems will post 2.21 EPS for the current fiscal year.
Several research firms have recently weighed in on FLIR. Zacks Investment Research reiterated a “sell” rating on shares of FLIR Systems in a report on Tuesday. BidaskClub cut shares of FLIR Systems from a “hold” rating to a “sell” rating in a report on Friday, November 2nd. Needham & Company LLC reduced their price target on shares of FLIR Systems from $62.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, November 1st. Imperial Capital reduced their price target on shares of FLIR Systems from $60.00 to $51.00 and set an “in-line” rating for the company in a report on Thursday, November 1st. They noted that the move was a valuation call. Finally, ValuEngine cut shares of FLIR Systems from a “buy” rating to a “hold” rating in a report on Wednesday, October 31st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. FLIR Systems currently has a consensus rating of “Hold” and a consensus price target of $58.17.
In other news, VP Jeffrey Frank sold 42,912 shares of the business’s stock in a transaction on Friday, September 7th. The shares were sold at an average price of $62.19, for a total value of $2,668,697.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Todd M. Duchene sold 1,000 shares of the business’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $62.95, for a total transaction of $62,950.00. Following the completion of the sale, the senior vice president now directly owns 38,453 shares in the company, valued at approximately $2,420,616.35. The disclosure for this sale can be found here. In the last three months, insiders sold 64,912 shares of company stock worth $4,032,277. 2.00% of the stock is currently owned by insiders.
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FLIR Systems Company Profile
FLIR Systems, Inc designs, develops, manufactures, and markets thermal imaging systems, visible-light imaging systems, locater systems, measurement and diagnostic systems, and threat-detection solutions worldwide. The company operates in six segments: Surveillance, Instruments, Security, OEM & Emerging Markets, Maritime, and Detection.
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