AAR Corp. (AIR) Releases Earnings Results, Beats Estimates By $0.03 EPS
AAR Corp. (NYSE:AIR) posted its quarterly earnings results on Thursday. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.26 by $0.03. AAR Corp. had a return on equity of 4.50% and a net margin of 2.87%. The firm earned $404.80 million during the quarter, compared to analysts’ expectations of $398.35 million. During the same quarter last year, the firm earned $0.28 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. AAR Corp. updated its FY17 guidance to $1.30-1.40 EPS.
AAR Corp. (NYSE:AIR) opened at 29.01 on Friday. The company has a 50-day moving average price of $25.77 and a 200 day moving average price of $24.05. AAR Corp. has a 12 month low of $18.36 and a 12 month high of $29.21. The stock has a market capitalization of $989.21 million, a price-to-earnings ratio of 21.21 and a beta of 1.90.
Several research firms recently commented on AIR. TheStreet raised AAR Corp. from a “hold” rating to a “buy” rating in a report on Friday, September 2nd. Zacks Investment Research upgraded AAR Corp. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 13th. Finally, Credit Suisse Group AG reiterated a “buy” rating on shares of AAR Corp. in a research report on Friday, June 10th.
Several large investors have recently made changes to their positions in AIR. Vanguard Group Inc. raised its stake in shares of AAR Corp. by 2.6% in the second quarter. Vanguard Group Inc. now owns 2,620,966 shares of the company’s stock valued at $61,174,000 after buying an additional 67,521 shares during the period. Highbridge Capital Management LLC purchased a new stake in shares of AAR Corp. during the second quarter valued at approximately $1,152,000. Comerica Bank raised its stake in shares of AAR Corp. by 143.8% in the second quarter. Comerica Bank now owns 81,719 shares of the company’s stock valued at $1,963,000 after buying an additional 48,207 shares during the period. BlackRock Fund Advisors raised its stake in shares of AAR Corp. by 1.8% in the second quarter. BlackRock Fund Advisors now owns 2,450,071 shares of the company’s stock valued at $57,185,000 after buying an additional 43,767 shares during the period. Finally, State Street Corp raised its stake in shares of AAR Corp. by 3.1% in the second quarter. State Street Corp now owns 818,700 shares of the company’s stock valued at $19,110,000 after buying an additional 24,250 shares during the period. 87.85% of the stock is currently owned by institutional investors and hedge funds.
About AAR Corp.
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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