AAR Corp. (AIR) Expected to Post Quarterly Sales of $457.56 Million
Brokerages expect AAR Corp. (NYSE:AIR) to announce sales of $457.56 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for AAR Corp.’s earnings, with the highest sales estimate coming in at $471.10 million and the lowest estimate coming in at $445.00 million. AAR Corp. reported sales of $423.80 million during the same quarter last year, which indicates a positive year over year growth rate of 8%. The business is scheduled to announce its next quarterly earnings results on Wednesday, December 20th.
According to Zacks, analysts expect that AAR Corp. will report full-year sales of $457.56 million for the current financial year, with estimates ranging from $1.94 billion to $1.97 billion. For the next financial year, analysts expect that the firm will report sales of $2.25 billion per share, with estimates ranging from $2.19 billion to $2.31 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover AAR Corp..
AAR Corp. (NYSE:AIR) last issued its earnings results on Tuesday, September 19th. The aerospace company reported $0.31 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.31. The firm had revenue of $439.20 million for the quarter, compared to the consensus estimate of $410.52 million. AAR Corp. had a return on equity of 4.58% and a net margin of 2.41%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.29 EPS.
A number of equities research analysts have weighed in on AIR shares. Canaccord Genuity reaffirmed a “hold” rating and issued a $40.00 target price on shares of AAR Corp. in a report on Friday, October 13th. Zacks Investment Research raised AAR Corp. from a “sell” rating to a “hold” rating in a report on Thursday, September 14th. Seaport Global Securities started coverage on AAR Corp. in a report on Tuesday, September 12th. They issued a “neutral” rating and a $39.00 target price on the stock. Noble Financial reaffirmed a “buy” rating on shares of AAR Corp. in a report on Thursday, July 13th. Finally, BidaskClub cut AAR Corp. from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. AAR Corp. presently has a consensus rating of “Hold” and a consensus price target of $46.20.
In other news, Director Ronald R. Fogleman sold 3,000 shares of the stock in a transaction on Friday, December 29th. The stock was sold at an average price of $33.47, for a total value of $100,410.00. Following the completion of the transaction, the director now directly owns 23,406 shares in the company, valued at approximately $783,398.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.33% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Piedmont Investment Advisors LLC bought a new position in AAR Corp. during the 2nd quarter worth $240,000. Heartland Advisors Inc. grew its holdings in AAR Corp. by 99.4% during the 2nd quarter. Heartland Advisors Inc. now owns 273,369 shares of the aerospace company’s stock worth $9,502,000 after acquiring an additional 136,261 shares during the period. American Century Companies Inc. acquired a new stake in AAR Corp. during the 2nd quarter worth about $4,659,000. Victory Capital Management Inc. grew its holdings in AAR Corp. by 15.9% during the 1st quarter. Victory Capital Management Inc. now owns 3,623 shares of the aerospace company’s stock worth $122,000 after acquiring an additional 496 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its holdings in AAR Corp. by 12.0% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 294,279 shares of the aerospace company’s stock worth $9,897,000 after acquiring an additional 31,549 shares during the period. 87.48% of the stock is owned by institutional investors and hedge funds.
Shares of AAR Corp. (NYSE AIR) traded down $0.92 during mid-day trading on Thursday, hitting $40.40. The company’s stock had a trading volume of 238,429 shares, compared to its average volume of 192,573. The firm has a market cap of $1,400.00, a P/E ratio of 27.30 and a beta of 1.33. AAR Corp. has a 52-week low of $31.20 and a 52-week high of $41.94. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.38 and a current ratio of 2.90.
AAR Corp. declared that its Board of Directors has approved a share buyback plan on Tuesday, July 11th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the aerospace company to purchase up to 20.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Friday, November 3rd. Stockholders of record on Monday, October 23rd were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend was Friday, October 20th. AAR Corp.’s payout ratio is 20.41%.
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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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