-$0.34 EPS Expected for AeroVironment, Inc. (AVAV) This Quarter
Brokerages expect AeroVironment, Inc. (NASDAQ:AVAV) to post ($0.34) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for AeroVironment’s earnings. The lowest EPS estimate is ($0.36) and the highest is ($0.32). AeroVironment posted earnings of ($0.51) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 33.3%. The company is expected to announce its next earnings results on Tuesday, August 29th.
On average, analysts expect that AeroVironment will report full-year earnings of $0.54 per share for the current financial year, with EPS estimates ranging from $0.45 to $0.65. For the next year, analysts forecast that the company will report earnings of $0.75 per share, with EPS estimates ranging from $0.65 to $0.90. Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for AeroVironment.
AeroVironment (NASDAQ:AVAV) last issued its quarterly earnings results on Tuesday, June 27th. The aerospace company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.31. AeroVironment had a return on equity of 3.49% and a net margin of 4.71%. The firm had revenue of $125.40 million for the quarter, compared to the consensus estimate of $122.90 million. During the same period in the prior year, the business posted $0.23 earnings per share. The company’s revenue for the quarter was up 47.9% on a year-over-year basis.
A number of research firms have commented on AVAV. Piper Jaffray Companies cut AeroVironment from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $30.00 to $35.00 in a research note on Monday, July 3rd. TheStreet raised AeroVironment from a “c-” rating to a “b” rating in a research report on Tuesday, June 27th. Zacks Investment Research raised AeroVironment from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective on the stock in a research report on Friday, June 30th. Jefferies Group LLC upped their price objective on AeroVironment from $27.00 to $29.00 and gave the stock a “hold” rating in a research report on Wednesday, June 28th. Finally, ValuEngine raised AeroVironment from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Seven research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. AeroVironment currently has a consensus rating of “Hold” and a consensus price target of $31.80.
In related news, VP Kenneth D. Karklin sold 735 shares of the firm’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $39.57, for a total value of $29,083.95. Following the completion of the sale, the vice president now owns 9,437 shares in the company, valued at $373,422.09. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Timothy E. Conver sold 20,000 shares of the firm’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $30.33, for a total transaction of $606,600.00. Following the completion of the sale, the chairman now owns 66,621 shares of the company’s stock, valued at approximately $2,020,614.93. The disclosure for this sale can be found here. Insiders have sold 84,297 shares of company stock valued at $3,051,833 in the last quarter. Insiders own 12.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of AVAV. BlackRock Inc. boosted its position in shares of AeroVironment by 216,094.4% in the first quarter. BlackRock Inc. now owns 3,216,973 shares of the aerospace company’s stock worth $90,172,000 after buying an additional 3,215,485 shares during the period. Vanguard Group Inc. boosted its position in shares of AeroVironment by 5.9% in the first quarter. Vanguard Group Inc. now owns 1,861,593 shares of the aerospace company’s stock worth $52,180,000 after buying an additional 103,167 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of AeroVironment by 8.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,445,679 shares of the aerospace company’s stock worth $40,522,000 after buying an additional 107,063 shares during the period. American Capital Management Inc. boosted its position in shares of AeroVironment by 11.3% in the first quarter. American Capital Management Inc. now owns 1,179,552 shares of the aerospace company’s stock worth $33,063,000 after buying an additional 120,140 shares during the period. Finally, Neuberger Berman Group LLC boosted its position in shares of AeroVironment by 1.1% in the first quarter. Neuberger Berman Group LLC now owns 1,032,878 shares of the aerospace company’s stock worth $28,952,000 after buying an additional 11,149 shares during the period. 81.53% of the stock is owned by institutional investors.
Shares of AeroVironment (NASDAQ:AVAV) traded down 0.0264% during midday trading on Tuesday, hitting $38.2299. The stock had a trading volume of 72,393 shares. The firm has a market cap of $889.50 million, a price-to-earnings ratio of 70.7961 and a beta of 1.31. The firm’s 50 day moving average price is $34.94 and its 200 day moving average price is $29.67. AeroVironment has a 52-week low of $22.16 and a 52-week high of $40.10.
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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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