AAR Corp. (AIR) Plans Quarterly Dividend of $0.08
AAR Corp. (NYSE:AIR) declared a quarterly dividend on Wednesday, October 11th, RTT News reports. Stockholders of record on Monday, October 23rd will be given a dividend of 0.075 per share by the aerospace company on Friday, November 3rd. This represents a $0.30 annualized dividend and a dividend yield of 0.78%.
AAR Corp. has a payout ratio of 16.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect AAR Corp. to earn $2.31 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 13.0%.
AAR Corp. (NYSE AIR) traded down 0.70% during trading on Wednesday, hitting $38.43. 209,222 shares of the stock traded hands. AAR Corp. has a 52 week low of $30.37 and a 52 week high of $39.71. The stock has a market cap of $1.31 billion, a P/E ratio of 23.09 and a beta of 1.37. The firm’s 50-day moving average is $36.72 and its 200 day moving average is $35.58.
AAR Corp. (NYSE:AIR) last released its quarterly earnings results on Tuesday, September 19th. The aerospace company reported $0.31 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.31. The business had revenue of $439.20 million during the quarter, compared to analysts’ expectations of $410.52 million. AAR Corp. had a return on equity of 5.66% and a net margin of 3.20%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.29 earnings per share. Equities research analysts forecast that AAR Corp. will post $1.77 earnings per share for the current fiscal year.
AAR Corp. announced that its Board of Directors has authorized a stock buyback program on Tuesday, July 11th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the aerospace company to repurchase 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 news, Vice Chairman Timothy J. Romenesko sold 43,200 shares of the business’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $37.28, for a total transaction of $1,610,496.00. Following the completion of the transaction, the insider now directly owns 317,665 shares in the company, valued at approximately $11,842,551.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ronald B. Woodard sold 20,000 shares of the business’s stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $37.22, for a total value of $744,400.00. Following the transaction, the director now owns 20,073 shares of the company’s stock, valued at $747,117.06. 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 three months. Company insiders own 9.33% of the company’s stock.
Several analysts have weighed in on the company. Noble Financial reissued a “buy” rating on shares of AAR Corp. in a report on Friday, August 11th. Canaccord Genuity assumed coverage on AAR Corp. in a report on Wednesday, September 6th. They set a “hold” rating and a $40.00 price objective for the company. Zacks Investment Research raised AAR Corp. from a “sell” rating to a “hold” rating in a report on Friday, September 22nd. BidaskClub cut AAR Corp. from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Finally, Seaport Global Securities assumed coverage on AAR Corp. in a report on Tuesday, September 12th. They set a “neutral” rating and a $39.00 price objective for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $45.67.
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.
Receive News & Ratings for AAR Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AAR Corp. and related companies with MarketBeat.com's FREE daily email newsletter.