AeroVironment, Inc. (AVAV) Expected to Post Quarterly Sales of $63.77 Million

Equities research analysts expect AeroVironment, Inc. (NASDAQ:AVAV) to announce sales of $63.77 million for the current quarter, Zacks reports. Three analysts have provided estimates for AeroVironment’s earnings, with the lowest sales estimate coming in at $53.50 million and the highest estimate coming in at $83.80 million. AeroVironment reported sales of $53.16 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 20%. The firm is scheduled to announce its next earnings results on Tuesday, March 6th.

According to Zacks, analysts expect that AeroVironment will report full year sales of $63.77 million for the current fiscal year, with estimates ranging from $290.00 million to $303.40 million. For the next financial year, analysts anticipate that the business will report sales of $336.11 million per share, with estimates ranging from $317.53 million to $347.80 million. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for AeroVironment.

AeroVironment (NASDAQ:AVAV) last released its quarterly earnings data on Tuesday, December 5th. The aerospace company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.30. AeroVironment had a return on equity of 8.23% and a net margin of 10.42%. The firm had revenue of $73.83 million for the quarter, compared to analysts’ expectations of $63.53 million. During the same period in the prior year, the firm posted ($0.18) earnings per share. The firm’s quarterly revenue was up 47.3% on a year-over-year basis.

A number of brokerages have issued reports on AVAV. BidaskClub lowered AeroVironment from a “sell” rating to a “strong sell” rating in a research report on Wednesday, December 27th. Zacks Investment Research raised AeroVironment from a “hold” rating to a “strong-buy” rating and set a $64.00 target price on the stock in a research report on Friday, December 8th. Canaccord Genuity reissued a “hold” rating and issued a $50.00 target price on shares of AeroVironment in a research report on Thursday, December 14th. TheStreet raised AeroVironment from a “c+” rating to a “b” rating in a research report on Friday, December 8th. Finally, Robert W. Baird reissued a “hold” rating and issued a $35.00 target price on shares of AeroVironment in a research report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $42.40.

In other news, Chairman Timothy E. Conver sold 3,800 shares of the company’s stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $56.90, for a total transaction of $216,220.00. Following the sale, the chairman now owns 58,138 shares of the company’s stock, valued at $3,308,052.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Timothy E. Conver sold 7,600 shares of the company’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $44.85, for a total value of $340,860.00. Following the sale, the chairman now directly owns 58,138 shares in the company, valued at approximately $2,607,489.30. The disclosure for this sale can be found here. In the last three months, insiders sold 41,800 shares of company stock worth $2,221,100. 11.00% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of AVAV. Janus Henderson Group PLC purchased a new stake in shares of AeroVironment during the second quarter worth $39,724,000. Global X Management Co. LLC increased its position in shares of AeroVironment by 122.8% during the fourth quarter. Global X Management Co. LLC now owns 254,301 shares of the aerospace company’s stock worth $14,282,000 after acquiring an additional 140,178 shares during the period. American Capital Management Inc. increased its position in shares of AeroVironment by 9.7% during the fourth quarter. American Capital Management Inc. now owns 1,441,771 shares of the aerospace company’s stock worth $80,970,000 after acquiring an additional 127,619 shares during the period. Robeco Institutional Asset Management B.V. purchased a new stake in shares of AeroVironment during the fourth quarter worth $7,137,000. Finally, BlackRock Inc. increased its position in shares of AeroVironment by 3.6% during the second quarter. BlackRock Inc. now owns 3,333,627 shares of the aerospace company’s stock worth $127,344,000 after acquiring an additional 116,654 shares during the period. 75.04% of the stock is currently owned by institutional investors and hedge funds.

Shares of AeroVironment (NASDAQ:AVAV) opened at $47.98 on Monday. The stock has a market capitalization of $1,150.00, a P/E ratio of 37.78, a price-to-earnings-growth ratio of 4.55 and a beta of 1.06. AeroVironment has a 12-month low of $25.66 and a 12-month high of $58.99.

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AeroVironment Company Profile

AeroVironment, Inc designs, develops, produces, supports and operates a portfolio of products and services for government agencies, businesses and consumers. The Company operates through two segments: Unmanned Aircraft Systems (UAS), which focuses primarily on the design, development, production, support and operation of UAS and tactical missile systems that provide situational awareness, multi-band communications, force protection and other mission effects, and Efficient Energy Systems (EES), which focuses primarily on the design, development, production, marketing, support and operation of electric energy systems.

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