AeroVironment (NASDAQ:AVAV) Updates FY 2023 Earnings Guidance

AeroVironment (NASDAQ:AVAVGet Rating) updated its FY 2023 earnings guidance on Thursday. The company provided earnings per share guidance of $1.35-$1.65 for the period, compared to the consensus earnings per share estimate of $1.52. The company issued revenue guidance of $490.00 million-$520.00 million, compared to the consensus revenue estimate of $509.39 million.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AVAV. Royal Bank of Canada upped their price target on AeroVironment from $100.00 to $115.00 in a research note on Monday, August 22nd. Canaccord Genuity Group upped their price target on AeroVironment from $85.00 to $90.00 and gave the stock a buy rating in a research note on Wednesday, June 29th. Alembic Global Advisors upgraded AeroVironment from a neutral rating to an overweight rating and set a $103.00 price target on the stock in a research note on Friday, July 1st. Canaccord Genuity Group upped their price target on AeroVironment from $85.00 to $90.00 and gave the stock a buy rating in a research note on Wednesday, June 29th. Finally, StockNews.com upgraded AeroVironment from a sell rating to a hold rating in a research note on Wednesday, August 31st. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $89.00.

AeroVironment Stock Up 2.4 %

Shares of NASDAQ AVAV opened at $92.22 on Thursday. The stock has a market cap of $2.30 billion, a P/E ratio of 1,844.77 and a beta of 0.50. The company has a current ratio of 3.73, a quick ratio of 2.70 and a debt-to-equity ratio of 0.29. AeroVironment has a 12-month low of $52.03 and a 12-month high of $114.11. The business’s fifty day simple moving average is $90.97 and its 200-day simple moving average is $89.22.

AeroVironment (NASDAQ:AVAVGet Rating) last announced its quarterly earnings data on Wednesday, September 7th. The aerospace company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.19). The company had revenue of $108.52 million during the quarter, compared to analyst estimates of $103.41 million. AeroVironment had a net margin of 0.31% and a return on equity of 5.39%. The firm’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.17) earnings per share. As a group, equities analysts predict that AeroVironment will post 1.56 EPS for the current fiscal year.

Insider Activity

In related news, CAO Brian Charles Shackley sold 500 shares of the stock in a transaction on Monday, September 12th. The stock was sold at an average price of $100.39, for a total value of $50,195.00. Following the transaction, the chief accounting officer now owns 3,382 shares of the company’s stock, valued at $339,518.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Brian Charles Shackley sold 500 shares of the stock in a transaction on Monday, September 12th. The stock was sold at an average price of $100.39, for a total value of $50,195.00. Following the transaction, the chief accounting officer now owns 3,382 shares of the company’s stock, valued at $339,518.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles R. Holland sold 4,001 shares of the stock in a transaction on Thursday, July 7th. The shares were sold at an average price of $84.20, for a total value of $336,884.20. Following the completion of the transaction, the director now directly owns 56,998 shares in the company, valued at approximately $4,799,231.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,826 shares of company stock worth $1,323,206. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On AeroVironment

Several large investors have recently bought and sold shares of the business. Lazard Asset Management LLC purchased a new position in AeroVironment in the first quarter valued at $47,000. Captrust Financial Advisors grew its holdings in shares of AeroVironment by 37.8% during the first quarter. Captrust Financial Advisors now owns 2,751 shares of the aerospace company’s stock worth $259,000 after purchasing an additional 754 shares during the last quarter. Yousif Capital Management LLC grew its holdings in shares of AeroVironment by 4.1% during the first quarter. Yousif Capital Management LLC now owns 20,694 shares of the aerospace company’s stock worth $1,948,000 after purchasing an additional 811 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of AeroVironment by 14.8% during the first quarter. Bank of Montreal Can now owns 6,918 shares of the aerospace company’s stock worth $656,000 after purchasing an additional 894 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of AeroVironment by 1.5% during the second quarter. Legal & General Group Plc now owns 74,476 shares of the aerospace company’s stock worth $6,122,000 after purchasing an additional 1,092 shares during the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

About AeroVironment

(Get Rating)

AeroVironment, Inc designs, develops, produces, delivers, and supports a portfolio of robotic systems and related services for government agencies and businesses in the United States and internationally. It operates through four segments: Unmanned Aircraft Systems (UAS), Tactical Missile System (TMS), Medium Unmanned Aircraft Systems (MUAS), and High Altitude Pseudo-Satellite Systems (HAPS).

Read More

Earnings History and Estimates for AeroVironment (NASDAQ:AVAV)

Receive News & Ratings for AeroVironment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AeroVironment and related companies with MarketBeat.com's FREE daily email newsletter.