AeroVironment, Inc. (AVAV) Expected to Post Earnings of -$0.03 Per Share
Wall Street analysts expect AeroVironment, Inc. (NASDAQ:AVAV) to announce ($0.03) earnings per share for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for AeroVironment’s earnings, with the lowest EPS estimate coming in at ($0.16) and the highest estimate coming in at $0.10. AeroVironment reported earnings per share of ($0.18) during the same quarter last year, which indicates a positive year-over-year growth rate of 83.3%. The company is scheduled to report its next earnings report on Tuesday, December 5th.
According to Zacks, analysts expect that AeroVironment will report full year earnings of $0.61 per share for the current year, with EPS estimates ranging from $0.55 to $0.76. For the next financial year, analysts expect that the firm will report earnings of $0.78 per share, with EPS estimates ranging from $0.70 to $0.90. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for AeroVironment.
AeroVironment (NASDAQ:AVAV) last released its quarterly earnings results on Tuesday, August 29th. The aerospace company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.15. AeroVironment had a net margin of 7.22% and a return on equity of 5.40%. The firm had revenue of $43.80 million during the quarter, compared to the consensus estimate of $42.44 million. During the same quarter in the prior year, the firm earned ($0.51) EPS. The company’s revenue for the quarter was up 21.0% on a year-over-year basis.
A number of equities analysts have recently weighed in on the stock. BidaskClub lowered shares of AeroVironment from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Zacks Investment Research raised shares of AeroVironment from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a research report on Friday, June 30th. Jefferies Group LLC boosted their price objective on shares of AeroVironment from $27.00 to $29.00 and gave the company a “hold” rating in a research report on Wednesday, June 28th. Canaccord Genuity reissued a “hold” rating and issued a $35.00 price objective on shares of AeroVironment in a research report on Thursday, August 10th. Finally, Piper Jaffray Companies reissued a “neutral” rating and issued a $36.00 price objective on shares of AeroVironment in a research report on Thursday, August 31st. Six investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $38.00.
In related news, Chairman Timothy E. Conver sold 3,800 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $38.14, for a total value of $144,932.00. Following the completion of the sale, the chairman now directly owns 58,138 shares in the company, valued at $2,217,383.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Timothy E. Conver sold 7,600 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $49.14, for a total transaction of $373,464.00. Following the completion of the sale, the chairman now owns 58,138 shares of the company’s stock, valued at $2,856,901.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 83,097 shares of company stock valued at $3,280,965. 11.00% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. grew its holdings in AeroVironment by 0.8% in the first quarter. PNC Financial Services Group Inc. now owns 4,860 shares of the aerospace company’s stock valued at $136,000 after purchasing an additional 38 shares during the period. Sei Investments Co. grew its stake in AeroVironment by 1.8% during the second quarter. Sei Investments Co. now owns 3,450 shares of the aerospace company’s stock worth $132,000 after buying an additional 61 shares during the period. Louisiana State Employees Retirement System grew its stake in AeroVironment by 1.2% during the first quarter. Louisiana State Employees Retirement System now owns 8,400 shares of the aerospace company’s stock worth $235,000 after buying an additional 100 shares during the period. Arizona State Retirement System grew its stake in AeroVironment by 0.9% during the first quarter. Arizona State Retirement System now owns 10,698 shares of the aerospace company’s stock worth $300,000 after buying an additional 100 shares during the period. Finally, Municipal Employees Retirement System of Michigan grew its stake in AeroVironment by 3.2% during the second quarter. Municipal Employees Retirement System of Michigan now owns 4,850 shares of the aerospace company’s stock worth $185,000 after buying an additional 150 shares during the period. Hedge funds and other institutional investors own 77.55% of the company’s stock.
AeroVironment (NASDAQ AVAV) traded up 1.32% on Monday, hitting $49.13. 689,085 shares of the company traded hands. The stock has a market cap of $1.15 billion, a PE ratio of 57.87 and a beta of 1.26. The stock’s 50-day moving average is $41.76 and its 200 day moving average is $33.74. AeroVironment has a 12 month low of $22.16 and a 12 month high of $51.04.
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AeroVironment Company Profile
AeroVironment, Inc designs, develops, produces, supports and operates a portfolio of products and services for government agencies, businesses and consumers. The Company operates through two segments: Unmanned Aircraft Systems (UAS), which focuses primarily on the design, development, production, support and operation of UAS and tactical missile systems that provide situational awareness, multi-band communications, force protection and other mission effects, and Efficient Energy Systems (EES), which focuses primarily on the design, development, production, marketing, support and operation of electric energy systems.
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