Wall Street brokerages predict that AAR Corp. (NYSE:AIR) will report $481.20 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for AAR’s earnings, with estimates ranging from $472.80 million to $490.79 million. AAR reported sales of $446.70 million during the same quarter last year, which would suggest a positive year over year growth rate of 7.7%. The firm is expected to report its next quarterly earnings results on Tuesday, March 20th.
According to Zacks, analysts expect that AAR will report full year sales of $481.20 million for the current fiscal year, with estimates ranging from $1.90 billion to $1.92 billion. For the next year, analysts expect that the company will post sales of $2.19 billion per share, with estimates ranging from $2.18 billion to $2.20 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow AAR.
AAR (NYSE:AIR) last issued its quarterly earnings results on Thursday, December 21st. The aerospace company reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.02). AAR had a return on equity of 5.61% and a net margin of 1.25%. The company had revenue of $449.70 million for the quarter, compared to analyst estimates of $450.56 million. During the same period in the prior year, the business earned $0.35 earnings per share. AAR’s revenue for the quarter was up 6.1% compared to the same quarter last year.
AIR has been the subject of several recent research reports. SunTrust Banks increased their price target on AAR to $50.00 and gave the stock a “buy” rating in a report on Monday, December 4th. Credit Suisse Group raised AAR from a “neutral” rating to an “outperform” rating in a report on Friday, January 12th. Seaport Global Securities raised AAR from a “neutral” rating to a “buy” rating and increased their price target for the stock from $39.00 to $50.00 in a report on Tuesday, January 16th. Noble Financial reaffirmed a “buy” rating on shares of AAR in a report on Friday, December 22nd. Finally, Canaccord Genuity raised AAR from a “hold” rating to a “buy” rating and increased their price target for the stock from $42.00 to $46.00 in a report on Thursday, February 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $46.50.
In other AAR news, Director Ronald R. Fogleman sold 3,000 shares of the firm’s 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 sale, the director now owns 23,406 shares of the company’s stock, valued at $783,398.82. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO David P. Storch sold 126,679 shares of the firm’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $41.53, for a total value of $5,260,978.87. Following the completion of the sale, the chief executive officer now directly owns 759,639 shares of the company’s stock, valued at approximately $31,547,807.67. The disclosure for this sale can be found here. 9.33% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. MetLife Investment Advisors LLC acquired a new stake in AAR in the fourth quarter valued at $543,000. Municipal Employees Retirement System of Michigan lifted its holdings in AAR by 25.5% in the fourth quarter. Municipal Employees Retirement System of Michigan now owns 19,510 shares of the aerospace company’s stock valued at $766,000 after acquiring an additional 3,970 shares during the period. Castleark Management LLC acquired a new stake in AAR in the fourth quarter valued at $7,235,000. Teachers Advisors LLC lifted its holdings in AAR by 2.3% in the fourth quarter. Teachers Advisors LLC now owns 58,068 shares of the aerospace company’s stock valued at $2,281,000 after acquiring an additional 1,303 shares during the period. Finally, Stone Ridge Asset Management LLC acquired a new stake in AAR in the fourth quarter valued at $403,000. 90.89% of the stock is owned by institutional investors.
Shares of AAR (AIR) opened at $42.03 on Friday. The company has a current ratio of 2.65, a quick ratio of 1.23 and a debt-to-equity ratio of 0.24. AAR has a fifty-two week low of $31.97 and a fifty-two week high of $44.04. The firm has a market capitalization of $1,460.00, a price-to-earnings ratio of 91.37 and a beta of 1.36.
The firm also recently announced a quarterly dividend, which was paid on Monday, February 5th. Shareholders of record on Monday, January 22nd were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend was Friday, January 19th. AAR’s dividend payout ratio (DPR) is currently 65.22%.
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AAR 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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