Raven Industries, Inc. (NASDAQ:RAVN) – Investment analysts at SunTrust Banks boosted their FY2018 earnings per share (EPS) estimates for Raven Industries in a research report issued to clients and investors on Wednesday. SunTrust Banks analyst J. Freuchtel now anticipates that the conglomerate will post earnings per share of $1.21 for the year, up from their prior estimate of $0.97. SunTrust Banks has a “Buy” rating and a $36.00 price target on the stock. SunTrust Banks also issued estimates for Raven Industries’ Q4 2018 earnings at $0.31 EPS and FY2019 earnings at $1.50 EPS.
Raven Industries (NASDAQ:RAVN) last announced its quarterly earnings results on Monday, November 20th. The conglomerate reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.10. Raven Industries had a net margin of 10.56% and a return on equity of 13.88%. The business had revenue of $101.35 million for the quarter, compared to analyst estimates of $84.54 million.
Shares of Raven Industries (NASDAQ:RAVN) traded down $0.83 on Friday, reaching $36.87. 25,876 shares of the company were exchanged, compared to its average volume of 113,009. Raven Industries has a twelve month low of $23.75 and a twelve month high of $40.85. The firm has a market cap of $1,378.38 and a price-to-earnings ratio of 37.79.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 26th. Shareholders of record on Friday, January 12th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date was Thursday, January 11th. Raven Industries’s dividend payout ratio is currently 50.98%.
Raven Industries announced that its Board of Directors has approved a share buyback plan on Monday, December 4th that allows the company to repurchase $25.00 million in shares. This repurchase authorization allows the conglomerate to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Capco Asset Management LLC boosted its position in shares of Raven Industries by 1.0% during the 3rd quarter. Capco Asset Management LLC now owns 462,026 shares of the conglomerate’s stock valued at $14,970,000 after acquiring an additional 4,724 shares during the last quarter. State Street Corp grew its position in shares of Raven Industries by 6.2% in the second quarter. State Street Corp now owns 879,504 shares of the conglomerate’s stock valued at $29,288,000 after purchasing an additional 51,451 shares during the period. Piedmont Investment Advisors LLC purchased a new stake in shares of Raven Industries in the second quarter valued at $260,000. Wells Fargo & Company MN grew its position in shares of Raven Industries by 37.5% in the second quarter. Wells Fargo & Company MN now owns 37,900 shares of the conglomerate’s stock valued at $1,262,000 after purchasing an additional 10,328 shares during the period. Finally, BlackRock Inc. grew its position in shares of Raven Industries by 3.9% in the second quarter. BlackRock Inc. now owns 4,607,096 shares of the conglomerate’s stock valued at $153,418,000 after purchasing an additional 173,123 shares during the period. 74.04% of the stock is owned by hedge funds and other institutional investors.
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).
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