AAR Corp. (NYSE:AIR) – Equities researchers at Seaport Global Securities upped their FY2018 earnings estimates for shares of AAR in a report issued on Tuesday. Seaport Global Securities analyst J. Sullivan now anticipates that the aerospace company will post earnings per share of $1.73 for the year, up from their previous estimate of $1.70. Seaport Global Securities has a “Buy” rating and a $50.00 price target on the stock. Seaport Global Securities also issued estimates for AAR’s Q4 2018 earnings at $0.63 EPS and FY2019 earnings at $2.63 EPS.
AIR has been the subject of several other research reports. SunTrust Banks boosted their price objective on AAR to $50.00 and gave the stock a “buy” rating in a report on Monday, December 4th. Zacks Investment Research raised AAR from a “sell” rating to a “hold” rating in a report on Friday, September 22nd. Credit Suisse Group raised AAR from a “neutral” rating to an “outperform” rating in a research note on Friday, January 12th. TheStreet lowered AAR from a “b” rating to a “c+” rating in a research note on Thursday, December 21st. Finally, Noble Financial reaffirmed a “buy” rating on shares of AAR in a research note on Friday, December 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $45.00.
AAR (NYSE:AIR) last issued 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 business had revenue of $449.70 million for the quarter, compared to analysts’ expectations of $450.56 million. During the same period in the previous year, the firm posted $0.35 EPS. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year.
A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its position in AAR by 1.6% in the second 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. Northern Trust Corp lifted its position in AAR by 4.7% in the second quarter. Northern Trust Corp now owns 1,278,094 shares of the aerospace company’s stock valued at $44,427,000 after purchasing an additional 57,466 shares during the last quarter. State Street Corp lifted its position in AAR by 1.6% in the second quarter. State Street Corp now owns 1,119,196 shares of the aerospace company’s stock valued at $38,901,000 after purchasing an additional 17,488 shares during the last quarter. Rothschild Asset Management Inc. lifted its position in AAR by 6.1% in the third quarter. Rothschild Asset Management Inc. now owns 702,718 shares of the aerospace company’s stock valued at $26,549,000 after purchasing an additional 40,308 shares during the last quarter. Finally, Foundry Partners LLC lifted its position in AAR by 1.9% in the third quarter. Foundry Partners LLC now owns 370,487 shares of the aerospace company’s stock valued at $13,997,000 after purchasing an additional 7,000 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.
In other AAR news, Director Ronald R. Fogleman sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $33.47, for a total value of $100,410.00. Following the completion of the sale, the director now owns 23,406 shares of the company’s stock, valued at $783,398.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David P. Storch sold 126,679 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $41.53, for a total value of $5,260,978.87. Following the completion of the sale, the chief executive officer now owns 759,639 shares of the company’s stock, valued at approximately $31,547,807.67. The disclosure for this sale can be found here. 9.33% of the stock is owned by corporate insiders.
The company also recently announced a quarterly dividend, which will be paid on Monday, February 5th. Shareholders of record on Monday, January 22nd will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend is Friday, January 19th. AAR’s dividend payout ratio is currently 65.22%.
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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