AeroVironment, Inc. (AVAV) Releases FY18 Earnings Guidance
AeroVironment, Inc. (NASDAQ:AVAV) issued an update on its FY18 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.45-0.65 for the period, compared to the Thomson Reuters consensus estimate of $0.56. The company issued revenue guidance of $280-300 million, compared to the consensus revenue estimate of $293.37 million.
AeroVironment, Inc. (AVAV) opened at 39.35 on Wednesday. AeroVironment, Inc. has a 1-year low of $22.16 and a 1-year high of $40.10. The stock has a market cap of $915.56 million, a P/E ratio of 72.87 and a beta of 1.31. The company’s 50-day moving average price is $38.28 and its 200-day moving average price is $31.67.
AeroVironment (NASDAQ:AVAV) last announced its quarterly earnings results on Tuesday, August 29th. The aerospace company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.15. The firm had revenue of $43.80 million during the quarter, compared to analysts’ expectations of $42.44 million. AeroVironment had a net margin of 4.71% and a return on equity of 3.49%. The company’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.51) earnings per share. Analysts predict that AeroVironment, Inc. will post $0.56 EPS for the current year.
A number of brokerages have commented on AVAV. Jefferies Group LLC raised their price target on shares of AeroVironment to $37.00 and gave the stock a hold rating in a research note on Wednesday. TheStreet upgraded shares of AeroVironment from a c- rating to a b rating in a research note on Tuesday, June 27th. Zacks Investment Research upgraded shares of AeroVironment from a hold rating to a strong-buy rating and set a $42.00 target price for the company in a research note on Friday, June 30th. Robert W. Baird reiterated a hold rating and issued a $35.00 target price on shares of AeroVironment in a research note on Monday. Finally, Canaccord Genuity reiterated a hold rating and issued a $35.00 target price on shares of AeroVironment in a research note on Thursday, August 10th. Eight investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $36.80.
In other news, VP Kenneth D. Karklin sold 735 shares of AeroVironment stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $39.57, for a total value of $29,083.95. Following the completion of the transaction, the vice president now owns 9,437 shares in the company, valued at $373,422.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Timothy E. Conver sold 4,000 shares of AeroVironment stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $30.99, for a total transaction of $123,960.00. Following the completion of the transaction, the chairman now owns 66,621 shares of the company’s stock, valued at approximately $2,064,584.79. The disclosure for this sale can be found here. Insiders sold 79,497 shares of company stock valued at $3,034,461 in the last quarter. 11.00% of the stock is currently owned by corporate insiders.
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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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