Zacks: Analysts Anticipate Aerojet Rocketdyne Holdings, Inc. (AJRD) Will Announce Quarterly Sales of $544.47 Million

Analysts expect that Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) will announce sales of $544.47 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Aerojet Rocketdyne’s earnings, with the lowest sales estimate coming in at $526.00 million and the highest estimate coming in at $555.00 million. Aerojet Rocketdyne reported sales of $532.20 million during the same quarter last year, which indicates a positive year-over-year growth rate of 2.3%. The business is expected to report its next quarterly earnings report on Wednesday, March 7th.

On average, analysts expect that Aerojet Rocketdyne will report full year sales of $544.47 million for the current financial year, with estimates ranging from $1.88 billion to $1.90 billion. For the next year, analysts expect that the business will report sales of $1.97 billion per share, with estimates ranging from $1.93 billion to $2.01 billion. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Aerojet Rocketdyne.

Aerojet Rocketdyne (NYSE:AJRD) last posted its quarterly earnings data on Thursday, November 2nd. The aerospace company reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.03). Aerojet Rocketdyne had a net margin of 3.24% and a return on equity of 60.91%. The business had revenue of $484.00 million for the quarter, compared to the consensus estimate of $487.48 million. The business’s revenue for the quarter was up 4.3% on a year-over-year basis.

A number of research firms have commented on AJRD. Zacks Investment Research lowered shares of Aerojet Rocketdyne from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 4th. SunTrust Banks reaffirmed a “buy” rating and set a $40.00 price objective on shares of Aerojet Rocketdyne in a research note on Friday, November 3rd. BidaskClub lowered shares of Aerojet Rocketdyne from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 2nd. CL King raised shares of Aerojet Rocketdyne from a “neutral” rating to a “buy” rating in a research note on Friday, September 22nd. Finally, Jefferies Group lowered shares of Aerojet Rocketdyne from a “buy” rating to a “hold” rating and set a $35.00 price objective for the company. in a research note on Monday, October 23rd. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $37.33.

In other news, Director Martin Turchin sold 10,000 shares of the stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $30.73, for a total value of $307,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James R. Henderson sold 53,234 shares of the stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $29.97, for a total transaction of $1,595,422.98. Following the completion of the sale, the director now directly owns 113,341 shares of the company’s stock, valued at $3,396,829.77. The disclosure for this sale can be found here. Insiders sold 88,235 shares of company stock valued at $2,652,753 over the last three months. 2.70% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Advisor Group Inc. increased its holdings in Aerojet Rocketdyne by 0.4% in the second quarter. Advisor Group Inc. now owns 8,644 shares of the aerospace company’s stock worth $180,000 after buying an additional 35 shares during the last quarter. Pinebridge Investments L.P. increased its holdings in Aerojet Rocketdyne by 0.7% in the second quarter. Pinebridge Investments L.P. now owns 9,824 shares of the aerospace company’s stock worth $204,000 after buying an additional 67 shares during the last quarter. HighTower Advisors LLC increased its holdings in Aerojet Rocketdyne by 1.2% in the second quarter. HighTower Advisors LLC now owns 64,970 shares of the aerospace company’s stock worth $1,343,000 after buying an additional 759 shares during the last quarter. Alliancebernstein L.P. increased its holdings in Aerojet Rocketdyne by 0.9% in the second quarter. Alliancebernstein L.P. now owns 91,126 shares of the aerospace company’s stock worth $1,895,000 after buying an additional 800 shares during the last quarter. Finally, Ameritas Investment Partners Inc. increased its holdings in Aerojet Rocketdyne by 18.0% in the second quarter. Ameritas Investment Partners Inc. now owns 6,071 shares of the aerospace company’s stock worth $126,000 after buying an additional 925 shares during the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

Aerojet Rocketdyne (AJRD) traded down $0.12 during mid-day trading on Wednesday, reaching $30.83. 551,572 shares of the company’s stock were exchanged, compared to its average volume of 609,752. The company has a quick ratio of 1.38, a current ratio of 1.66 and a debt-to-equity ratio of 3.94. Aerojet Rocketdyne has a 52 week low of $17.69 and a 52 week high of $36.25. The stock has a market capitalization of $2,320.00, a price-to-earnings ratio of 36.70, a PEG ratio of 4.83 and a beta of 1.41.

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About Aerojet Rocketdyne

GenCorp Inc, incorporated in 1915, is a manufacturer of aerospace and defense products and systems with a real estate segment that includes activities related to the re-zoning, entitlement, sale, and leasing of its excess real estate assets. The Company develops and manufactures propulsion systems for defense and space applications, and armaments for precision tactical and long range weapon systems applications.

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