AAR Corp. (AIR) Declares $0.08 Quarterly Dividend
AAR Corp. (NYSE:AIR) announced a quarterly dividend on Wednesday, October 11th, RTT News reports. Shareholders of record on Monday, October 23rd will be given a dividend of 0.075 per share by the aerospace company on Friday, November 3rd. This represents a $0.30 dividend on an annualized basis and a yield of 0.78%.
AAR Corp. has a dividend payout ratio of 16.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect AAR Corp. to earn $2.46 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 12.2%.
AAR Corp. (NYSE:AIR) traded up 0.57% during midday trading on Thursday, reaching $38.65. The company’s stock had a trading volume of 17,476 shares. AAR Corp. has a one year low of $30.37 and a one year high of $39.71. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 23.23 and a beta of 1.37. The stock’s 50 day moving average price is $36.80 and its 200-day moving average price is $35.60.
AAR Corp. (NYSE:AIR) last posted its earnings results on Tuesday, September 19th. The aerospace company reported $0.31 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.31. AAR Corp. had a net margin of 3.20% and a return on equity of 5.66%. The business had revenue of $439.20 million for the quarter, compared to analyst estimates of $410.52 million. During the same period in the prior year, the company posted $0.29 EPS. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, analysts forecast that AAR Corp. will post $1.77 EPS for the current fiscal year.
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Several equities research analysts have recently issued reports on the stock. Noble Financial reissued a “buy” rating on shares of AAR Corp. in a research note on Friday, August 11th. Canaccord Genuity assumed coverage on shares of AAR Corp. in a research note on Wednesday, September 6th. They set a “hold” rating and a $40.00 target price on the stock. Zacks Investment Research raised shares of AAR Corp. from a “sell” rating to a “hold” rating in a research note on Friday, September 22nd. BidaskClub lowered shares of AAR Corp. from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, Seaport Global Securities began coverage on shares of AAR Corp. in a research note on Tuesday, September 12th. They issued a “neutral” rating and a $39.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $45.67.
AAR Corp. announced that its board has initiated a stock repurchase program on Tuesday, July 11th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the aerospace company to purchase up to 20.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
In other AAR Corp. news, VP Robert J. Regan sold 28,640 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $36.53, for a total value of $1,046,219.20. Following the completion of the sale, the vice president now owns 114,193 shares in the company, valued at approximately $4,171,470.29. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Timothy J. Romenesko sold 43,200 shares of the stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $37.28, for a total transaction of $1,610,496.00. Following the completion of the sale, the insider now owns 317,665 shares of the company’s stock, valued at approximately $11,842,551.20. The disclosure for this sale can be found here. Company insiders own 9.33% of the company’s stock.
AAR Corp. Company Profile
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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