Equities analysts expect that Aerojet Rocketdyne Holdings Inc (NYSE:AJRD) will report sales of $477.75 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Aerojet Rocketdyne’s earnings, with the lowest sales estimate coming in at $466.60 million and the highest estimate coming in at $488.90 million. Aerojet Rocketdyne reported sales of $484.10 million during the same quarter last year, which would suggest a negative year over year growth rate of 1.3%. The firm is scheduled to announce its next earnings results on Thursday, November 1st.
On average, analysts expect that Aerojet Rocketdyne will report full-year sales of $1.93 billion for the current fiscal year, with estimates ranging from $1.91 billion to $1.96 billion. For the next fiscal year, analysts anticipate that the business will post sales of $2.01 billion per share, with estimates ranging from $2.00 billion to $2.03 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Aerojet Rocketdyne.
Aerojet Rocketdyne (NYSE:AJRD) last released its quarterly earnings data on Monday, July 30th. The aerospace company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.18. Aerojet Rocketdyne had a net margin of 0.48% and a return on equity of 46.03%. The company had revenue of $467.20 million during the quarter, compared to analyst estimates of $457.41 million. During the same quarter in the prior year, the business earned $0.32 earnings per share. The business’s quarterly revenue was up 1.7% compared to the same quarter last year.
A number of equities analysts have recently commented on AJRD shares. TheStreet raised shares of Aerojet Rocketdyne from a “c+” rating to a “b” rating in a research report on Friday, August 3rd. SunTrust Banks upped their price target on Aerojet Rocketdyne from $36.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, August 21st. Finally, Zacks Investment Research raised Aerojet Rocketdyne from a “sell” rating to a “hold” rating in a research report on Tuesday, July 3rd. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $36.67.
Shares of AJRD opened at $34.10 on Friday. Aerojet Rocketdyne has a 12-month low of $24.41 and a 12-month high of $37.70. The company has a market capitalization of $2.62 billion, a PE ratio of 46.22, a price-to-earnings-growth ratio of 4.96 and a beta of 1.08. The company has a debt-to-equity ratio of 2.64, a quick ratio of 1.60 and a current ratio of 1.60.
In other news, Director Martin Turchin sold 5,000 shares of Aerojet Rocketdyne stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $36.43, for a total value of $182,150.00. Following the sale, the director now directly owns 90,650 shares of the company’s stock, valued at $3,302,379.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James H. Perry sold 25,225 shares of the business’s stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $34.33, for a total value of $865,974.25. Following the sale, the director now directly owns 113,140 shares in the company, valued at $3,884,096.20. The disclosure for this sale can be found here. Company insiders own 3.20% of the company’s stock.
Hedge funds have recently modified their holdings of the company. LS Investment Advisors LLC raised its holdings in Aerojet Rocketdyne by 99.3% in the 2nd quarter. LS Investment Advisors LLC now owns 4,556 shares of the aerospace company’s stock valued at $134,000 after acquiring an additional 2,270 shares during the last quarter. Eidelman Virant Capital increased its stake in shares of Aerojet Rocketdyne by 298.5% during the second quarter. Eidelman Virant Capital now owns 6,675 shares of the aerospace company’s stock worth $196,000 after acquiring an additional 5,000 shares during the period. NumerixS Investment Technologies Inc boosted its holdings in Aerojet Rocketdyne by 28.7% during the second quarter. NumerixS Investment Technologies Inc now owns 7,720 shares of the aerospace company’s stock worth $228,000 after buying an additional 1,720 shares in the last quarter. Advisors Asset Management Inc. purchased a new stake in Aerojet Rocketdyne during the second quarter worth about $278,000. Finally, Element Capital Management LLC purchased a new stake in shares of Aerojet Rocketdyne in the first quarter valued at about $290,000.
About Aerojet Rocketdyne
Aerojet Rocketdyne Holdings, Inc designs, develops, manufactures, and sells aerospace and defense products and systems in the United States. The company operates through two segments, Aerospace and Defense, and Real Estate. The Aerospace and Defense segment offers aerospace and defense products and systems for the United States government, including the Department of Defense, the National Aeronautics and Space Administration, and aerospace and defense prime contractors.
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