AAR Corp. (AIR) Expected to Post Q1 2018 Earnings of $0.35 Per Share
AAR Corp. (NYSE:AIR) – Investment analysts at Seaport Global Securities issued their Q1 2018 earnings per share estimates for shares of AAR Corp. in a research note issued on Tuesday. Seaport Global Securities analyst J. Sullivan anticipates that the aerospace company will post earnings of $0.35 per share for the quarter. Seaport Global Securities currently has a “Neutral” rating and a $39.00 target price on the stock. Seaport Global Securities also issued estimates for AAR Corp.’s Q2 2018 earnings at $0.40 EPS, Q3 2018 earnings at $0.47 EPS, Q4 2018 earnings at $0.57 EPS, FY2018 earnings at $1.79 EPS, Q1 2019 earnings at $0.48 EPS, Q2 2019 earnings at $0.54 EPS, Q3 2019 earnings at $0.59 EPS, Q4 2019 earnings at $0.66 EPS and FY2019 earnings at $2.28 EPS.
Several other research firms have also recently commented on AIR. Zacks Investment Research cut AAR Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Noble Financial reiterated a “buy” rating on shares of AAR Corp. in a research note on Thursday, July 13th. BidaskClub cut AAR Corp. from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Finally, Canaccord Genuity started coverage on AAR Corp. in a research note on Wednesday, September 6th. They set a “hold” rating and a $40.00 target price for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $44.71.
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Shares of AAR Corp. (NYSE:AIR) traded up 0.17% during trading on Thursday, hitting $35.31. 15,407 shares of the stock were exchanged. The firm has a 50 day moving average of $35.90 and a 200-day moving average of $35.04. AAR Corp. has a 12-month low of $27.06 and a 12-month high of $38.75. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 21.61 and a beta of 1.39.
AAR Corp. (NYSE:AIR) last announced its earnings results on Tuesday, July 11th. The aerospace company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $492.30 million for the quarter, compared to analysts’ expectations of $486.93 million. AAR Corp. had a net margin of 3.20% and a return on equity of 5.69%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.32 EPS.
AAR Corp. declared that its Board of Directors has authorized a share buyback plan on Tuesday, July 11th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the aerospace company to purchase up to 20.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
In related news, VP Robert J. Regan sold 28,640 shares of the firm’s stock in a transaction that occurred on 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 transaction, the vice president now directly owns 114,193 shares of the company’s stock, valued at approximately $4,171,470.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Timothy J. Romenesko sold 43,200 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 317,665 shares in the company, valued at $11,842,551.20. The disclosure for this sale can be found here. Insiders have sold a total of 91,840 shares of company stock valued at $3,401,115 over the last ninety days. Company insiders own 9.33% of the company’s stock.
Several hedge funds have recently modified their holdings of AIR. Bank of Montreal Can raised its stake in shares of AAR Corp. by 10.1% in the 1st quarter. Bank of Montreal Can now owns 3,371 shares of the aerospace company’s stock valued at $114,000 after acquiring an additional 309 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of AAR Corp. by 15.9% in the 1st quarter. Victory Capital Management Inc. now owns 3,623 shares of the aerospace company’s stock valued at $122,000 after acquiring an additional 496 shares in the last quarter. FNY Partners Fund LP bought a new position in shares of AAR Corp. in the 1st quarter valued at approximately $127,000. Cubist Systematic Strategies LLC bought a new position in shares of AAR Corp. in the 2nd quarter valued at approximately $213,000. Finally, State of Alaska Department of Revenue raised its stake in shares of AAR Corp. by 79.2% in the 2nd quarter. State of Alaska Department of Revenue now owns 6,307 shares of the aerospace company’s stock valued at $219,000 after acquiring an additional 2,787 shares in the last quarter. 87.44% 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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