Seaport Global Securities Brokers Lift Earnings Estimates for AAR Corp. (AIR)
AAR Corp. (NYSE:AIR) – Investment analysts at Seaport Global Securities upped their Q1 2019 earnings per share (EPS) estimates for shares of AAR in a report issued on Tuesday. Seaport Global Securities analyst J. Sullivan now expects that the aerospace company will earn $0.55 per share for the quarter, up from their previous forecast of $0.48. Seaport Global Securities currently has a “Buy” rating and a $50.00 target price on the stock. Seaport Global Securities also issued estimates for AAR’s Q2 2019 earnings at $0.67 EPS, Q3 2019 earnings at $0.64 EPS and Q4 2019 earnings at $0.78 EPS.
AAR (NYSE:AIR) last posted its quarterly earnings data on Thursday, December 21st. The aerospace company reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.02). AAR had a return on equity of 5.61% and a net margin of 1.25%. The company had revenue of $449.70 million for the quarter, compared to analyst estimates of $450.56 million. During the same quarter in the previous year, the firm posted $0.35 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis.
AAR (AIR) traded up $0.13 during trading hours on Wednesday, hitting $41.15. 258,575 shares of the stock traded hands, compared to its average volume of 291,815. AAR has a 1-year low of $31.23 and a 1-year high of $44.04. The company has a quick ratio of 1.23, a current ratio of 2.65 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $1,430.00, a P/E ratio of 89.46 and a beta of 1.36.
A number of hedge funds and other institutional investors have recently bought and sold shares of AIR. Macquarie Group Ltd. acquired a new position in AAR during the third quarter valued at $144,000. Victory Capital Management Inc. lifted its position in AAR by 17.6% during the second quarter. Victory Capital Management Inc. now owns 4,262 shares of the aerospace company’s stock valued at $148,000 after purchasing an additional 639 shares during the period. Highbridge Capital Management LLC acquired a new position in AAR during the third quarter valued at $200,000. Cubist Systematic Strategies LLC acquired a new position in AAR during the second quarter valued at $213,000. Finally, OxFORD Asset Management LLP acquired a new position in AAR during the second quarter valued at $230,000. Institutional investors own 87.77% of the company’s stock.
In related 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 transaction of $100,410.00. Following the completion of the transaction, the director now directly owns 23,406 shares in the company, valued at $783,398.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David P. Storch sold 126,679 shares of the business’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $41.53, for a total transaction of $5,260,978.87. Following the transaction, the chief executive officer now owns 759,639 shares of the company’s stock, valued at $31,547,807.67. The disclosure for this sale can be found here. Insiders own 9.33% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 5th. Investors of record on Monday, January 22nd will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, January 19th. This represents a $0.30 dividend on an annualized basis and a yield of 0.73%. AAR’s dividend payout ratio is presently 65.22%.
AAR 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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