Brokers Offer Predictions for AAR Corp.’s Q4 2019 Earnings (AIR)
AAR Corp. (NYSE:AIR) – Research analysts at SunTrust Banks decreased their Q4 2019 earnings estimates for AAR in a research note issued on Tuesday, March 19th. SunTrust Banks analyst M. Ciarmoli now forecasts that the aerospace company will earn $0.62 per share for the quarter, down from their previous forecast of $0.74. SunTrust Banks also issued estimates for AAR’s Q2 2020 earnings at $0.66 EPS, Q3 2020 earnings at $0.73 EPS, Q4 2020 earnings at $0.73 EPS and FY2020 earnings at $2.71 EPS.
Several other brokerages have also recently issued reports on AIR. Zacks Investment Research cut AAR from a “hold” rating to a “sell” rating in a research note on Tuesday, November 27th. ValuEngine cut AAR from a “hold” rating to a “sell” rating in a research note on Tuesday, February 19th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $48.00 price objective on shares of AAR in a research note on Wednesday. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $52.33.
AAR (NYSE:AIR) last issued its quarterly earnings results on Tuesday, March 19th. The aerospace company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.10. AAR had a positive return on equity of 9.21% and a negative net margin of 0.17%. The firm had revenue of $529.50 million for the quarter, compared to the consensus estimate of $539.70 million. During the same period in the prior year, the business posted $0.49 earnings per share. The company’s revenue for the quarter was up 16.0% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Advisor Group Inc. boosted its position in shares of AAR by 94.8% in the 4th quarter. Advisor Group Inc. now owns 744 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 362 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of AAR in the 4th quarter worth $50,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in AAR by 57.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,523 shares of the aerospace company’s stock worth $94,000 after acquiring an additional 917 shares during the last quarter. Quantamental Technologies LLC purchased a new position in AAR in the 4th quarter worth $139,000. Finally, Hsbc Holdings PLC raised its stake in AAR by 7.0% in the 4th quarter. Hsbc Holdings PLC now owns 5,963 shares of the aerospace company’s stock worth $222,000 after acquiring an additional 391 shares during the last quarter. 90.08% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director David P. Storch sold 30,000 shares of the stock in a transaction that occurred on Thursday, January 10th. The stock was sold at an average price of $38.72, for a total value of $1,161,600.00. Following the transaction, the director now owns 612,822 shares of the company’s stock, valued at $23,728,467.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 7.43% of the stock is owned by corporate insiders.
AAR Company Profile
AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The company operates in two segments, Aviation Services and Expeditionary Services. The Aviation Services segment offers aftermarket support and services; inventory management and distribution services; and maintenance, repair, and overhaul, as well as engineering services.
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