Dougherty & Co Weighs in on Raven Industries, Inc.’s FY2019 Earnings (RAVN)
Raven Industries, Inc. (NASDAQ:RAVN) – Equities research analysts at Dougherty & Co issued their FY2019 EPS estimates for Raven Industries in a research note issued on Monday. Dougherty & Co analyst J. Fisher anticipates that the conglomerate will earn $1.20 per share for the year. Dougherty & Co has a “Neutral” rating on the stock.
Raven Industries (NASDAQ:RAVN) last released its earnings results on Monday, November 20th. The conglomerate reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.10. Raven Industries had a return on equity of 13.88% and a net margin of 10.56%. The firm had revenue of $101.35 million during the quarter, compared to analysts’ expectations of $84.54 million.
Several other equities research analysts have also recently weighed in on RAVN. Piper Jaffray Companies restated a “hold” rating and set a $31.00 target price on shares of Raven Industries in a research note on Sunday, October 1st. Zacks Investment Research upgraded Raven Industries from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research note on Friday, December 8th. Finally, BidaskClub cut Raven Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, December 6th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Raven Industries has an average rating of “Hold” and an average price target of $35.00.
Shares of Raven Industries (NASDAQ RAVN) opened at $35.40 on Thursday. Raven Industries has a 12 month low of $23.65 and a 12 month high of $38.35. The firm has a market capitalization of $1,251.45, a price-to-earnings ratio of 34.31, a price-to-earnings-growth ratio of 3.43 and a beta of 1.48.
A number of large investors have recently made changes to their positions in RAVN. Schwab Charles Investment Management Inc. raised its position in Raven Industries by 0.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 242,754 shares of the conglomerate’s stock worth $8,084,000 after purchasing an additional 1,670 shares during the last quarter. First Trust Advisors LP bought a new position in Raven Industries during the 2nd quarter worth $369,000. Legal & General Group Plc raised its position in Raven Industries by 13.1% during the 2nd quarter. Legal & General Group Plc now owns 70,690 shares of the conglomerate’s stock worth $2,355,000 after purchasing an additional 8,194 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Raven Industries by 69.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 13,015 shares of the conglomerate’s stock worth $433,000 after purchasing an additional 5,342 shares during the last quarter. Finally, Marshall Wace North America L.P. bought a new position in Raven Industries during the 2nd quarter worth $209,000. 74.03% of the stock is owned by institutional investors and hedge funds.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 12th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Thursday, January 11th. Raven Industries’s dividend payout ratio is currently 50.98%.
Raven Industries declared that its Board of Directors has initiated a stock buyback program on Monday, December 4th that authorizes the company to buyback $25.00 million in shares. This buyback authorization authorizes the conglomerate to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
Raven Industries Company Profile
Raven Industries, Inc is a diversified technology company providing a range of products to customers within the industrial, agricultural, energy, construction and defense markets. The Company operates through three segments: Applied Technology Division (Applied Technology), Engineered Films Division (Engineered Films) and Aerostar Division (Aerostar).
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