AAR Corp. (AIR) to Release Earnings on Tuesday
AAR Corp. (NYSE:AIR) is scheduled to post its quarterly earnings results after the market closes on Tuesday, September 19th. Analysts expect AAR Corp. to post earnings of $0.33 per share for the quarter.
AAR Corp. (NYSE:AIR) last announced its quarterly earnings results on Tuesday, July 11th. The aerospace company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. The business had revenue of $492.30 million for the quarter, compared to analyst estimates of $486.93 million. AAR Corp. had a return on equity of 5.69% and a net margin of 3.20%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 earnings per share. On average, analysts expect AAR Corp. to post $1.81 EPS for the current fiscal year and $2.46 EPS for the next fiscal year.
AAR Corp. (AIR) opened at 35.26 on Monday. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 21.58 and a beta of 1.39. AAR Corp. has a one year low of $27.36 and a one year high of $38.75. The firm has a 50-day moving average price of $35.79 and a 200 day moving average price of $35.05.
AAR Corp. announced that its board has authorized a stock buyback plan on Tuesday, July 11th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the aerospace company to repurchase up to 20.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.
In other news, Director Ronald B. Woodard sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $37.22, for a total value of $744,400.00. Following the sale, the director now directly owns 20,073 shares of the company’s stock, valued at approximately $747,117.06. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Vice Chairman Timothy J. Romenesko sold 43,200 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $37.28, for a total value of $1,610,496.00. Following the completion of the sale, the insider now directly owns 317,665 shares in the company, valued at $11,842,551.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 91,840 shares of company stock worth $3,401,115. Insiders own 9.33% of the company’s stock.
Several analysts have weighed in on AIR shares. Seaport Global Securities started coverage on AAR Corp. in a research report on Tuesday, September 12th. They set a “neutral” rating and a $39.00 price objective on the stock. Zacks Investment Research cut AAR Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, June 6th. BidaskClub raised AAR Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Canaccord Genuity started coverage on AAR Corp. in a research report on Wednesday, September 6th. They set a “hold” rating and a $40.00 price objective on the stock. Finally, Noble Financial reaffirmed a “buy” rating on shares of AAR Corp. in a research report on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $44.71.
AAR Corp. Company Profile
AAR CORP. (AAR) is a provider of services and products to the commercial aviation and government and defense markets. The Company operates in two segments: Aviation Services, which consists of supply chain and maintenance, repair and overhaul (MRO) activities, and Expeditionary Services, which includes airlift and mobility activities.
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