AAR Corp. (AIR) Expected to Announce Quarterly Sales of $412.06 Million
Wall Street brokerages expect AAR Corp. (NYSE:AIR) to post sales of $412.06 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for AAR Corp.’s earnings, with the lowest sales estimate coming in at $408.10 million and the highest estimate coming in at $416.02 million. AAR Corp. reported sales of $404.80 million during the same quarter last year, which indicates a positive year-over-year growth rate of 1.8%. The company is scheduled to report its next quarterly earnings report on Thursday, September 28th.
On average, analysts expect that AAR Corp. will report full-year sales of $412.06 million for the current financial year, with estimates ranging from $1.92 billion to $1.94 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.20 billion per share, with estimates ranging from $2.13 billion to $2.27 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover AAR Corp..
AAR Corp. (NYSE:AIR) last announced its quarterly earnings data on Tuesday, July 11th. The aerospace company reported $0.44 EPS for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.01. AAR Corp. had a return on equity of 5.69% and a net margin of 3.20%. The company had revenue of $492.30 million during the quarter, compared to the consensus estimate of $486.93 million. During the same quarter last year, the company earned $0.32 EPS. The company’s quarterly revenue was up 5.1% on a year-over-year basis.
Several research firms have weighed in on AIR. Zacks Investment Research upgraded AAR Corp. from a “sell” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Tuesday, May 23rd. BidaskClub upgraded AAR Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Finally, Noble Financial reiterated a “buy” rating on shares of AAR Corp. in a research note on Friday, August 11th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $46.80.
Shares of AAR Corp. (NYSE AIR) opened at 35.23 on Friday. The company has a market cap of $1.19 billion, a P/E ratio of 21.56 and a beta of 1.38. The firm has a 50 day moving average price of $36.26 and a 200-day moving average price of $34.77. AAR Corp. has a 12 month low of $23.50 and a 12 month high of $38.75.
AAR Corp. declared that its Board of Directors has authorized a stock buyback plan on Tuesday, July 11th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the aerospace company to buy up to 20.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 2nd. Stockholders of record on Friday, July 21st were paid a $0.075 dividend. The ex-dividend date of this dividend was Wednesday, July 19th. This represents a $0.30 annualized dividend and a dividend yield of 0.85%. AAR Corp.’s dividend payout ratio is presently 18.18%.
In related news, Vice Chairman Timothy J. Romenesko sold 43,200 shares of the firm’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $37.28, for a total value of $1,610,496.00. Following the transaction, the insider now owns 317,665 shares of the company’s stock, valued at approximately $11,842,551.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ronald B. Woodard sold 20,000 shares of the firm’s stock in a transaction dated Thursday, July 13th. The shares were sold at an average price of $37.22, for a total transaction of $744,400.00. Following the completion of the transaction, 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. In the last ninety days, insiders sold 91,840 shares of company stock worth $3,401,115. 8.23% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in AIR. 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 shares of 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 valued at $118,000 after buying an additional 30 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of AAR Corp. by 15.9% in the first quarter. Victory Capital Management Inc. now owns 3,623 shares of the aerospace company’s stock valued at $122,000 after buying an additional 496 shares during the last quarter. FNY Partners Fund LP acquired a new position in shares of AAR Corp. during the first quarter valued at $127,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of AAR Corp. during the second quarter valued at $213,000. 89.12% of the stock is currently owned by institutional investors and hedge funds.
AAR Corp. Company Profile
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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