AeroVironment, Inc. (NASDAQ:AVAV) Expected to Announce Quarterly Sales of $43.67 Million
Wall Street analysts expect AeroVironment, Inc. (NASDAQ:AVAV) to announce $43.67 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for AeroVironment’s earnings, with the lowest sales estimate coming in at $43.50 million and the highest estimate coming in at $43.80 million. AeroVironment posted sales of $36.22 million in the same quarter last year, which suggests a positive year-over-year growth rate of 20.6%. The firm is expected to issue its next earnings results on Tuesday, August 29th.
On average, analysts expect that AeroVironment will report full-year sales of $43.67 million for the current financial year, with estimates ranging from $290.00 million to $296.40 million. For the next year, analysts forecast that the business will report sales of $317.28 million per share, with estimates ranging from $305.00 million to $327.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for AeroVironment.
AeroVironment (NASDAQ:AVAV) last released its quarterly earnings results on Tuesday, June 27th. The aerospace company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.31. AeroVironment had a net margin of 4.71% and a return on equity of 3.49%. The company had revenue of $125.40 million for the quarter, compared to analyst estimates of $122.90 million. During the same period last year, the firm earned $0.23 earnings per share. The firm’s revenue was up 47.9% on a year-over-year basis.
AVAV has been the topic of several recent analyst reports. TheStreet raised shares of AeroVironment from a “c-” rating to a “b” rating in a research report on Tuesday, June 27th. Jefferies Group LLC increased their price objective on shares of AeroVironment from $27.00 to $29.00 and gave the company a “hold” rating in a research report on Wednesday, June 28th. ValuEngine raised shares of AeroVironment from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Canaccord Genuity reissued a “hold” rating and set a $29.00 price objective on shares of AeroVironment in a research report on Friday, April 7th. Finally, Piper Jaffray Companies downgraded shares of AeroVironment from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $30.00 to $35.00 in a research report on Monday, July 3rd. Seven equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $31.80.
In other news, Chairman Timothy E. Conver sold 20,000 shares of the firm’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $30.33, for a total transaction of $606,600.00. Following the sale, the chairman now owns 66,621 shares of the company’s stock, valued at approximately $2,020,614.93. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Kenneth D. Karklin sold 735 shares of the firm’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $39.57, for a total transaction of $29,083.95. Following the sale, the vice president now directly owns 9,437 shares in the company, valued at approximately $373,422.09. The disclosure for this sale can be found here. Insiders have sold a total of 84,297 shares of company stock worth $3,051,833 over the last three months. 12.50% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in AVAV. Municipal Employees Retirement System of Michigan increased its stake in shares of AeroVironment by 3.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 4,850 shares of the aerospace company’s stock worth $185,000 after buying an additional 150 shares during the last quarter. Wellington Shields Capital Management LLC bought a new stake in shares of AeroVironment during the second quarter worth about $325,000. Wellington Shields & Co. LLC bought a new stake in shares of AeroVironment during the second quarter worth about $1,375,000. US Bancorp DE increased its stake in shares of AeroVironment by 22.0% in the second quarter. US Bancorp DE now owns 17,877 shares of the aerospace company’s stock worth $683,000 after buying an additional 3,220 shares during the last quarter. Finally, Eqis Capital Management Inc. increased its stake in shares of AeroVironment by 4.1% in the second quarter. Eqis Capital Management Inc. now owns 7,831 shares of the aerospace company’s stock worth $299,000 after buying an additional 311 shares during the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.
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AeroVironment (AVAV) traded up 0.29% on Thursday, hitting $37.85. 46,123 shares of the company were exchanged. The company has a 50 day moving average price of $35.32 and a 200-day moving average price of $29.81. AeroVironment has a 52 week low of $22.16 and a 52 week high of $40.10. The stock has a market capitalization of $880.66 million, a P/E ratio of 70.09 and a beta of 1.31.
AeroVironment Company Profile
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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