$488.93 Million in Sales Expected for Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) This Quarter
Wall Street brokerages forecast that Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) will report $488.93 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Aerojet Rocketdyne Holdings’ earnings, with the highest sales estimate coming in at $500.80 million and the lowest estimate coming in at $482.30 million. Aerojet Rocketdyne Holdings posted sales of $463.80 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.4%. The company is expected to report its next earnings results on Tuesday, November 7th.
On average, analysts expect that Aerojet Rocketdyne Holdings will report full year sales of $488.93 million for the current year, with estimates ranging from $1.85 billion to $1.90 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.94 billion per share, with estimates ranging from $1.90 billion to $2.01 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Aerojet Rocketdyne Holdings.
Aerojet Rocketdyne Holdings (NYSE:AJRD) last issued its quarterly earnings data on Thursday, August 3rd. The aerospace company reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.17. The firm had revenue of $459.60 million for the quarter, compared to the consensus estimate of $433.71 million. Aerojet Rocketdyne Holdings had a net margin of 2.00% and a return on equity of 360.33%. Aerojet Rocketdyne Holdings’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period last year, the firm posted $0.09 EPS.
Several equities research analysts have recently weighed in on AJRD shares. Zacks Investment Research lowered shares of Aerojet Rocketdyne Holdings from a “hold” rating to a “strong sell” rating in a report on Thursday, May 11th. BidaskClub raised shares of Aerojet Rocketdyne Holdings from a “sell” rating to a “hold” rating in a report on Friday, June 30th.
Shares of Aerojet Rocketdyne Holdings (AJRD) opened at 27.22 on Friday. The company has a 50-day moving average of $21.94 and a 200 day moving average of $21.10. Aerojet Rocketdyne Holdings has a 12 month low of $16.04 and a 12 month high of $27.49. The company has a market capitalization of $2.03 billion, a P/E ratio of 100.81 and a beta of 1.53.
A number of large investors have recently modified their holdings of the company. Alambic Investment Management L.P. bought a new stake in shares of Aerojet Rocketdyne Holdings during the first quarter worth approximately $436,000. Renaissance Technologies LLC raised its stake in shares of Aerojet Rocketdyne Holdings by 17.6% in the first quarter. Renaissance Technologies LLC now owns 1,758,295 shares of the aerospace company’s stock worth $38,155,000 after buying an additional 263,500 shares in the last quarter. Glen Harbor Capital Management LLC raised its stake in shares of Aerojet Rocketdyne Holdings by 10.6% in the first quarter. Glen Harbor Capital Management LLC now owns 5,338 shares of the aerospace company’s stock worth $116,000 after buying an additional 510 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Aerojet Rocketdyne Holdings during the first quarter worth approximately $112,000. Finally, BlackRock Inc. raised its stake in shares of Aerojet Rocketdyne Holdings by 208,237.4% in the first quarter. BlackRock Inc. now owns 9,712,688 shares of the aerospace company’s stock worth $210,766,000 after buying an additional 9,708,026 shares in the last quarter. 93.11% of the stock is currently owned by hedge funds and other institutional investors.
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About Aerojet Rocketdyne Holdings
GenCorp Inc, incorporated in 1915, is a manufacturer of aerospace and defense products and systems with a real estate segment that includes activities related to the re-zoning, entitlement, sale, and leasing of its excess real estate assets. The Company develops and manufactures propulsion systems for defense and space applications, and armaments for precision tactical and long range weapon systems applications.
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