Analysts Anticipate AAR Corp. (AIR) Will Post Quarterly Sales of $454.22 Million
Analysts expect AAR Corp. (NYSE:AIR) to report $454.22 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for AAR Corp.’s earnings. The lowest sales estimate is $435.00 million and the highest is $471.10 million. AAR Corp. posted sales of $423.80 million during the same quarter last year, which would suggest a positive year over year growth rate of 7.2%. The business is expected to report its next earnings results on Wednesday, December 20th.
According to Zacks, analysts expect that AAR Corp. will report full year sales of $454.22 million for the current year, with estimates ranging from $1.94 billion to $1.97 billion. For the next financial year, analysts anticipate that the firm will report sales of $2.25 billion per share, with estimates ranging from $2.19 billion to $2.31 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover AAR Corp..
AAR Corp. (NYSE:AIR) last issued its quarterly earnings data on Tuesday, September 19th. The aerospace company reported $0.31 earnings per share for the quarter, hitting the consensus estimate of $0.31. The business had revenue of $439.20 million during the quarter, compared to the consensus estimate of $410.52 million. AAR Corp. had a net margin of 3.20% and a return on equity of 5.66%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.29 EPS.
A number of equities analysts have recently commented on the stock. BidaskClub cut shares of AAR Corp. from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Noble Financial reaffirmed a “buy” rating on shares of AAR Corp. in a report on Friday, August 11th. Canaccord Genuity assumed coverage on shares of AAR Corp. in a report on Wednesday, September 6th. They issued a “hold” rating and a $40.00 target price on the stock. Seaport Global Securities assumed coverage on shares of AAR Corp. in a report on Tuesday, September 12th. They issued a “neutral” rating and a $39.00 target price on the stock. Finally, Zacks Investment Research raised shares of AAR Corp. from a “sell” rating to a “hold” rating in a report on Thursday, September 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $46.20.
In other AAR Corp. news, Director Ronald R. Fogleman sold 3,000 shares of the business’s stock in a transaction on Friday, December 29th. The shares were sold at an average price of $33.47, for a total value of $100,410.00. Following the transaction, the director now directly owns 23,406 shares of the company’s stock, valued at approximately $783,398.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 9.33% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in AIR. Macquarie Group Ltd. acquired a new position in shares of AAR Corp. during the 3rd quarter worth $144,000. Victory Capital Management Inc. grew its stake in shares of AAR Corp. by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 4,262 shares of the aerospace company’s stock worth $148,000 after purchasing an additional 639 shares during the period. Highbridge Capital Management LLC acquired a new position in shares of AAR Corp. during the 3rd quarter worth $200,000. Cubist Systematic Strategies LLC acquired a new position in shares of AAR Corp. during the 2nd quarter worth $213,000. Finally, State of Alaska Department of Revenue grew its stake in shares of AAR Corp. by 79.2% during the 2nd quarter. State of Alaska Department of Revenue now owns 6,307 shares of the aerospace company’s stock worth $219,000 after purchasing an additional 2,787 shares during the period. 84.00% of the stock is currently owned by institutional investors.
Shares of AAR Corp. (AIR) opened at $40.63 on Wednesday. The firm has a market cap of $1,384.54, a P/E ratio of 27.02 and a beta of 1.33. The company has a current ratio of 2.90, a quick ratio of 1.38 and a debt-to-equity ratio of 0.20. AAR Corp. has a 12-month low of $31.20 and a 12-month high of $41.94.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 3rd. Stockholders of record on Monday, October 23rd were issued a $0.075 dividend. The ex-dividend date of this dividend was Friday, October 20th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.74%. AAR Corp.’s payout ratio is 17.86%.
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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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