$0.29 EPS Expected for AAR Corp. (AIR) This Quarter
Equities research analysts forecast that AAR Corp. (NYSE:AIR) will announce $0.29 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for AAR Corp.’s earnings, with estimates ranging from $0.27 to $0.30. AAR Corp. also reported earnings of $0.29 per share during the same quarter last year. The company is expected to report its next earnings results on Thursday, September 28th.
According to Zacks, analysts expect that AAR Corp. will report full-year earnings of $1.82 per share for the current year, with EPS estimates ranging from $1.74 to $1.90. For the next year, analysts anticipate that the firm will report earnings of $2.55 per share, with EPS estimates ranging from $2.35 to $2.75. Zacks’ EPS averages are an average based on a survey of analysts that follow AAR Corp..
AAR Corp. (NYSE:AIR) last posted its quarterly earnings data on Tuesday, July 11th. The aerospace company reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.01. The business had revenue of $492.30 million during the quarter, compared to the consensus estimate of $486.93 million. AAR Corp. had a return on equity of 5.69% and a net margin of 3.20%. The company’s revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.32 earnings per share.
Several analysts have recently issued reports on AIR shares. Zacks Investment Research upgraded AAR Corp. from a “sell” rating to a “buy” rating and set a $38.00 price target for the company in a research note on Tuesday, May 23rd. BidaskClub cut AAR Corp. from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Finally, Noble Financial reissued a “buy” rating on shares of AAR Corp. in a research report on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $46.80.
Shares of AAR Corp. (NYSE:AIR) opened at 35.91 on Thursday. The stock has a 50 day moving average price of $36.22 and a 200 day moving average price of $34.74. AAR Corp. has a 12-month low of $23.34 and a 12-month high of $38.75. The firm has a market capitalization of $1.21 billion, a P/E ratio of 21.98 and a beta of 1.38.
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 2nd. Stockholders of record on Friday, July 21st were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend was Wednesday, July 19th. AAR Corp.’s dividend payout ratio (DPR) is currently 18.18%.
AAR Corp. announced that its Board of Directors has approved a stock buyback program on Tuesday, July 11th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the aerospace company to buy up to 20.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
In other AAR Corp. news, VP Robert J. Regan sold 28,640 shares of AAR Corp. stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $36.53, for a total value of $1,046,219.20. Following the sale, the vice president now owns 114,193 shares of the company’s stock, valued at approximately $4,171,470.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronald B. Woodard sold 20,000 shares of AAR Corp. stock in a transaction dated Thursday, July 13th. The shares were sold at an average price of $37.22, for a total value of $744,400.00. Following the completion of the sale, the director now directly owns 20,073 shares in the company, valued at approximately $747,117.06. The disclosure for this sale can be found here. Insiders have sold a total of 91,840 shares of company stock worth $3,401,115 in the last ninety days. 8.23% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can boosted its position in shares of AAR Corp. by 10.1% in the first quarter. Bank of Montreal Can now owns 3,371 shares of the aerospace company’s stock valued at $114,000 after buying an additional 309 shares during the last quarter. State of Alaska Department of Revenue boosted its position in AAR Corp. by 0.9% in the first quarter. State of Alaska Department of Revenue now owns 3,520 shares of the aerospace company’s stock worth $118,000 after buying an additional 30 shares during the last quarter. Victory Capital Management Inc. boosted its position in AAR Corp. by 15.9% in the first quarter. Victory Capital Management Inc. now owns 3,623 shares of the aerospace company’s stock worth $122,000 after buying an additional 496 shares during the last quarter. FNY Partners Fund LP acquired a new position in AAR Corp. during the first quarter worth approximately $127,000. Finally, Cubist Systematic Strategies LLC acquired a new position in AAR Corp. during the second quarter worth approximately $213,000. 89.12% of the stock is currently owned by hedge funds and other institutional investors.
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About AAR Corp.
AAR CORP. (AAR) is a provider of services and products to the commercial aviation and government and defense markets. The Company operates in two segments: Aviation Services, which consists of supply chain and maintenance, repair and overhaul (MRO) activities, and Expeditionary Services, which includes airlift and mobility activities.
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