AeroVironment (AVAV) Posts Quarterly Earnings Results, Beats Estimates By $0.30 EPS
AeroVironment (NASDAQ:AVAV) posted its quarterly earnings data on Tuesday. The aerospace company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.30, Briefing.com reports. AeroVironment had a net margin of 10.42% and a return on equity of 8.34%. The company had revenue of $73.83 million for the quarter, compared to the consensus estimate of $63.53 million. During the same quarter in the previous year, the firm posted ($0.18) EPS. The business’s revenue was up 47.3% compared to the same quarter last year. AeroVironment updated its FY18 guidance to $0.45-0.65 EPS.
Shares of AeroVironment (NASDAQ AVAV) opened at $54.47 on Thursday. The firm has a market cap of $1,031.09, a PE ratio of 33.01, a P/E/G ratio of 4.71 and a beta of 1.16. AeroVironment has a 52 week low of $24.70 and a 52 week high of $58.23.
Several research firms have recently issued reports on AVAV. Canaccord Genuity boosted their price objective on shares of AeroVironment from $40.00 to $48.00 and gave the stock a “hold” rating in a report on Wednesday, October 4th. Robert W. Baird restated a “hold” rating and set a $35.00 price objective on shares of AeroVironment in a report on Tuesday, October 24th. Zacks Investment Research downgraded shares of AeroVironment from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 1st. Piper Jaffray Companies reissued a “neutral” rating and issued a $36.00 target price on shares of AeroVironment in a research note on Thursday, August 31st. Finally, ValuEngine cut shares of AeroVironment from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Seven analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and a consensus price target of $39.00.
In related news, Chairman Timothy E. Conver sold 7,600 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $44.85, for a total value of $340,860.00. Following the sale, the chairman now owns 58,138 shares of the company’s stock, valued at $2,607,489.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Timothy E. Conver sold 3,800 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $44.14, for a total transaction of $167,732.00. Following the completion of the sale, the chairman now directly owns 58,138 shares in the company, valued at approximately $2,566,211.32. The disclosure for this sale can be found here. In the last three months, insiders sold 43,800 shares of company stock worth $2,179,960. 11.00% of the stock is currently owned by insiders.
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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