$457.56 Million in Sales Expected for AAR Corp. (AIR) This Quarter
Equities research analysts expect AAR Corp. (NYSE:AIR) to announce $457.56 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for AAR Corp.’s earnings, with estimates ranging from $445.00 million to $471.10 million. AAR Corp. reported sales of $423.80 million during the same quarter last year, which would suggest a positive year over year growth rate of 8%. The company is expected to issue its next earnings report on Wednesday, December 20th.
According to Zacks, analysts expect that AAR Corp. will report full-year sales of $457.56 million for the current financial year, with estimates ranging from $1.94 billion to $1.97 billion. For the next year, analysts expect that the company will post sales of $2.25 billion per share, with estimates ranging from $2.19 billion to $2.31 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for AAR Corp..
AAR Corp. (NYSE:AIR) last released its earnings results on Tuesday, September 19th. The aerospace company reported $0.31 EPS for the quarter, hitting analysts’ consensus estimates of $0.31. AAR Corp. had a return on equity of 5.66% and a net margin of 3.20%. The firm had revenue of $439.20 million for the quarter, compared to analysts’ expectations of $410.52 million. During the same period in the prior year, the firm posted $0.29 earnings per share. The company’s quarterly revenue was up 8.5% on a year-over-year basis.
Several research analysts have recently commented on AIR shares. Noble Financial reissued a “buy” rating on shares of AAR Corp. in a research report on Friday, August 11th. Canaccord Genuity started coverage on AAR Corp. in a research report on Wednesday, September 6th. They issued a “hold” rating and a $40.00 price target for the company. BidaskClub raised AAR Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Zacks Investment Research raised AAR Corp. from a “sell” rating to a “hold” rating in a research report on Friday, September 22nd. Finally, Seaport Global Securities started coverage on AAR Corp. in a research report on Tuesday, September 12th. They set a “neutral” rating and a $39.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. AAR Corp. presently has an average rating of “Hold” and a consensus target price of $46.20.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 3rd. Shareholders of record on Monday, October 23rd will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, October 20th. This represents a $0.30 annualized dividend and a yield of 0.77%. AAR Corp.’s payout ratio is presently 17.86%.
AAR Corp. announced that its board has authorized a stock buyback plan on Tuesday, July 11th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the aerospace company to reacquire up to 20.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.
In other AAR Corp. news, Director Ronald R. Fogleman sold 3,000 shares of the business’s stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $33.47, for a total transaction of $100,410.00. Following the sale, the director now owns 23,406 shares in the company, valued at approximately $783,398.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 9.33% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its stake in AAR Corp. by 1.6% during the 2nd quarter. BlackRock Inc. now owns 4,731,967 shares of the aerospace company’s stock valued at $164,483,000 after purchasing an additional 74,499 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of AAR Corp. by 5.7% in the first quarter. Vanguard Group Inc. now owns 2,924,503 shares of the aerospace company’s stock worth $98,350,000 after buying an additional 157,388 shares during the last quarter. Northern Trust Corp boosted its stake in shares of AAR Corp. by 4.7% in the second quarter. Northern Trust Corp now owns 1,278,094 shares of the aerospace company’s stock worth $44,427,000 after buying an additional 57,466 shares during the last quarter. State Street Corp boosted its stake in shares of AAR Corp. by 1.6% in the second quarter. State Street Corp now owns 1,119,196 shares of the aerospace company’s stock worth $38,901,000 after buying an additional 17,488 shares during the last quarter. Finally, Rothschild Asset Management Inc. boosted its stake in shares of AAR Corp. by 3.9% in the second quarter. Rothschild Asset Management Inc. now owns 662,410 shares of the aerospace company’s stock worth $23,025,000 after buying an additional 24,974 shares during the last quarter. Institutional investors and hedge funds own 87.48% of the company’s stock.
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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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