Q1 2020 EPS Estimates for AAR Corp. Lowered by SunTrust Banks (AIR)
AAR Corp. (NYSE:AIR) – Analysts at SunTrust Banks cut their Q1 2020 earnings estimates for AAR in a research report issued to clients and investors on Tuesday, September 25th. SunTrust Banks analyst M. Ciarmoli now expects that the aerospace company will earn $0.58 per share for the quarter, down from their previous estimate of $0.60. SunTrust Banks has a “Hold” rating and a $47.00 price objective on the stock. SunTrust Banks also issued estimates for AAR’s Q2 2020 earnings at $0.74 EPS, Q3 2020 earnings at $0.80 EPS, Q4 2020 earnings at $0.88 EPS and FY2020 earnings at $3.00 EPS.
AAR (NYSE:AIR) last issued its quarterly earnings data on Tuesday, September 25th. The aerospace company reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.02. The firm had revenue of $466.30 million for the quarter, compared to analysts’ expectations of $452.72 million. AAR had a net margin of 1.08% and a return on equity of 7.29%. The company’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.31 earnings per share.
Shares of AAR stock opened at $46.19 on Thursday. The company has a current ratio of 2.83, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 26.33 and a beta of 1.24. AAR has a 1-year low of $36.46 and a 1-year high of $51.52.
A number of hedge funds have recently made changes to their positions in AIR. Glenmede Trust Co. NA boosted its stake in AAR by 11,341.5% in the second quarter. Glenmede Trust Co. NA now owns 698,849 shares of the aerospace company’s stock valued at $32,490,000 after acquiring an additional 692,741 shares during the last quarter. Franklin Resources Inc. boosted its stake in AAR by 24.8% in the first quarter. Franklin Resources Inc. now owns 3,329,981 shares of the aerospace company’s stock valued at $146,885,000 after acquiring an additional 662,512 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in AAR by 518.1% in the second quarter. Advisors Asset Management Inc. now owns 357,536 shares of the aerospace company’s stock valued at $3,010,000 after acquiring an additional 299,692 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in AAR by 431.7% in the first quarter. Allianz Asset Management GmbH now owns 333,920 shares of the aerospace company’s stock valued at $14,729,000 after acquiring an additional 271,122 shares during the last quarter. Finally, Federated Investors Inc. PA boosted its stake in AAR by 6,834.5% in the second quarter. Federated Investors Inc. PA now owns 218,159 shares of the aerospace company’s stock valued at $10,142,000 after acquiring an additional 215,013 shares during the last quarter. 93.92% of the stock is currently owned by hedge funds and other institutional investors.
In other AAR news, VP Robert J. Regan sold 24,239 shares of the firm’s stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $47.36, for a total value of $1,147,959.04. Following the transaction, the vice president now directly owns 116,777 shares of the company’s stock, valued at $5,530,558.72. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David P. Storch sold 11,764 shares of the firm’s stock in a transaction that occurred on Friday, July 20th. The shares were sold at an average price of $47.07, for a total transaction of $553,731.48. Following the completion of the transaction, the director now directly owns 819,945 shares in the company, valued at $38,594,811.15. The disclosure for this sale can be found here. Insiders have sold 102,739 shares of company stock worth $4,850,280 over the last three months. 7.43% of the stock is owned by insiders.
AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The company operates in two segments, Aviation Services and Expeditionary Services. The Aviation Services segment offers aftermarket support and services; inventory management and distribution services; and maintenance, repair, and overhaul, as well as engineering services.
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