Raven Industries, Inc. to Post FY2019 Earnings of $1.20 Per Share, Dougherty & Co Forecasts (RAVN)

Raven Industries, Inc. (NASDAQ:RAVN) – Investment analysts at Dougherty & Co issued their FY2019 EPS estimates for Raven Industries in a research note issued on Monday. Dougherty & Co analyst J. Fisher forecasts that the conglomerate will post earnings per share of $1.20 for the year. Dougherty & Co has a “Neutral” rating on the stock.

Raven Industries (NASDAQ:RAVN) last released its earnings results on Monday, November 20th. The conglomerate reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.10. The firm had revenue of $101.35 million for the quarter, compared to analysts’ expectations of $84.54 million. Raven Industries had a net margin of 10.56% and a return on equity of 13.88%.

A number of other research firms have also recently weighed in on RAVN. BidaskClub cut shares of Raven Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, December 6th. Zacks Investment Research upgraded shares of Raven Industries from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Friday, December 8th. Finally, Piper Jaffray Companies restated a “hold” rating and set a $31.00 price target on shares of Raven Industries in a research note on Sunday, October 1st. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $35.00.

Raven Industries (NASDAQ:RAVN) traded up $0.80 on Thursday, reaching $35.00. 140,155 shares of the company’s stock were exchanged, compared to its average volume of 141,533. The stock has a market capitalization of $1,229.99, a PE ratio of 34.31, a price-to-earnings-growth ratio of 3.37 and a beta of 1.48. Raven Industries has a 52-week low of $23.65 and a 52-week high of $38.35.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 12th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Thursday, January 11th. Raven Industries’s payout ratio is currently 50.98%.

Raven Industries declared that its Board of Directors has approved a share buyback program on Monday, December 4th that authorizes the company to repurchase $25.00 million in outstanding shares. This repurchase authorization authorizes the conglomerate to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Hedge funds have recently made changes to their positions in the stock. Stifel Financial Corp increased its holdings in Raven Industries by 0.3% during the 2nd quarter. Stifel Financial Corp now owns 29,837 shares of the conglomerate’s stock worth $993,000 after acquiring an additional 103 shares during the period. Ameritas Investment Partners Inc. increased its holdings in Raven Industries by 8.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,174 shares of the conglomerate’s stock worth $106,000 after acquiring an additional 257 shares during the period. Connors Investor Services Inc. increased its holdings in Raven Industries by 0.8% during the 2nd quarter. Connors Investor Services Inc. now owns 75,141 shares of the conglomerate’s stock worth $2,502,000 after acquiring an additional 576 shares during the period. Victory Capital Management Inc. increased its holdings in Raven Industries by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 4,510 shares of the conglomerate’s stock worth $150,000 after acquiring an additional 675 shares during the period. Finally, Arlington Value Capital LLC increased its holdings in Raven Industries by 2.9% during the 2nd quarter. Arlington Value Capital LLC now owns 25,039 shares of the conglomerate’s stock worth $833,000 after acquiring an additional 700 shares during the period. Institutional investors own 74.03% of the company’s stock.

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About Raven Industries

Raven Industries, Inc is a diversified technology company providing a range of products to customers within the industrial, agricultural, energy, construction and defense markets. The Company operates through three segments: Applied Technology Division (Applied Technology), Engineered Films Division (Engineered Films) and Aerostar Division (Aerostar).

Earnings History and Estimates for Raven Industries (NASDAQ:RAVN)

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