$2.35 Billion in Sales Expected for Aon PLC (AON) This Quarter
Wall Street brokerages expect that Aon PLC (NYSE:AON) will report $2.35 billion in sales for the current quarter, Zacks reports. Five analysts have issued estimates for Aon PLC’s earnings. The lowest sales estimate is $2.30 billion and the highest is $2.39 billion. Aon PLC reported sales of $2.77 billion in the same quarter last year, which indicates a negative year over year growth rate of 15.2%. The business is expected to report its next earnings report before the market opens on Friday, August 4th.
According to Zacks, analysts expect that Aon PLC will report full year sales of $2.35 billion for the current year, with estimates ranging from $9.67 billion to $10.07 billion. For the next financial year, analysts forecast that the business will post sales of $10.43 billion per share, with estimates ranging from $9.95 billion to $10.76 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Aon PLC.
Aon PLC (NYSE:AON) last posted its quarterly earnings results on Tuesday, May 9th. The financial services provider reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.17. Aon PLC had a return on equity of 32.34% and a net margin of 12.23%. The business had revenue of $2.38 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the prior year, the business earned $1.35 EPS. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis.
Several research firms have weighed in on AON. Citigroup Inc. boosted their price objective on Aon PLC from $144.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday. Zacks Investment Research cut Aon PLC from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. BidaskClub raised Aon PLC from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 11th. Morgan Stanley reissued an “equal weight” rating and issued a $138.00 price objective (up previously from $130.00) on shares of Aon PLC in a research report on Thursday, July 6th. Finally, Barclays PLC boosted their price objective on Aon PLC from $115.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Monday, July 3rd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $132.25.
In related news, EVP Peter M. Lieb sold 2,000 shares of the business’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $130.40, for a total transaction of $260,800.00. Following the sale, the executive vice president now directly owns 20,216 shares in the company, valued at approximately $2,636,166.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Laurel G. Meissner sold 4,000 shares of the business’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $126.19, for a total value of $504,760.00. Following the sale, the senior vice president now owns 16,314 shares in the company, valued at $2,058,663.66. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. FNY Partners Fund LP bought a new stake in Aon PLC during the first quarter worth about $106,000. Capital Investment Advisors LLC bought a new stake in Aon PLC during the second quarter worth about $220,000. Assetmark Inc. raised its stake in Aon PLC by 191.4% in the first quarter. Assetmark Inc. now owns 2,305 shares of the financial services provider’s stock worth $274,000 after buying an additional 1,514 shares during the last quarter. Douglass Winthrop Advisors LLC raised its stake in Aon PLC by 15.9% in the first quarter. Douglass Winthrop Advisors LLC now owns 3,025 shares of the financial services provider’s stock worth $359,000 after buying an additional 414 shares during the last quarter. Finally, IFP Advisors Inc raised its stake in Aon PLC by 10.4% in the first quarter. IFP Advisors Inc now owns 3,295 shares of the financial services provider’s stock worth $391,000 after buying an additional 310 shares during the last quarter. Institutional investors own 86.01% of the company’s stock.
Shares of Aon PLC (AON) opened at 136.22 on Friday. Aon PLC has a 1-year low of $105.35 and a 1-year high of $137.28. The company has a market cap of $35.70 billion, a PE ratio of 26.91 and a beta of 1.03. The company has a 50-day moving average price of $131.15 and a 200-day moving average price of $119.98.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.06%. Aon PLC’s dividend payout ratio is presently 28.18%.
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Aon PLC Company Profile
Aon plc (Aon) is a global provider of risk management services, insurance and reinsurance brokerage, and human resource consulting and outsourcing, delivering distinctive client value via risk management and workforce productivity solutions. The Company operates in two segments: Risk Solutions and Human Resource (HR) Solutions.
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