Q4 2019 Earnings Estimate for AAR Corp. (AIR) Issued By SunTrust Banks
AAR Corp. (NYSE:AIR) – Analysts at SunTrust Banks lowered their Q4 2019 EPS estimates for AAR in a note issued to investors on Tuesday, November 20th. SunTrust Banks analyst M. Ciarmoli now anticipates that the aerospace company will post earnings per share of $0.84 for the quarter, down from their prior estimate of $0.86. SunTrust Banks currently has a “Hold” rating and a $47.00 target price on the stock. SunTrust Banks also issued estimates for AAR’s FY2020 earnings at $2.98 EPS.
Several other research firms have also recently issued reports on AIR. Zacks Investment Research raised AAR from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Tuesday, September 11th. Canaccord Genuity raised their target price on AAR from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, September 26th. Credit Suisse Group raised their target price on AAR from $51.00 to $58.00 and gave the stock an “outperform” rating in a research note on Friday, September 28th. Noble Financial reissued a “buy” rating and issued a $57.00 target price on shares of AAR in a research note on Thursday, September 27th. Finally, ValuEngine cut AAR from a “buy” rating to a “hold” rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. AAR currently has a consensus rating of “Buy” and an average price target of $53.17.
AAR (NYSE:AIR) last posted its earnings results on Tuesday, September 25th. The aerospace company reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.02. The company had revenue of $466.30 million for the quarter, compared to analysts’ expectations of $452.72 million. AAR had a return on equity of 7.27% and a net margin of 1.08%. AAR’s quarterly revenue was up 17.2% on a year-over-year basis. During the same period last year, the firm earned $0.31 earnings per share.
A number of institutional investors and hedge funds have recently modified their holdings of the business. WINTON GROUP Ltd lifted its holdings in AAR by 27.5% in the second quarter. WINTON GROUP Ltd now owns 7,665 shares of the aerospace company’s stock worth $356,000 after buying an additional 1,651 shares during the period. First Trust Advisors LP lifted its holdings in AAR by 15.4% in the third quarter. First Trust Advisors LP now owns 12,879 shares of the aerospace company’s stock worth $617,000 after buying an additional 1,721 shares during the period. Aperio Group LLC lifted its holdings in AAR by 11.5% in the second quarter. Aperio Group LLC now owns 18,397 shares of the aerospace company’s stock worth $855,000 after buying an additional 1,897 shares during the period. IndexIQ Advisors LLC lifted its holdings in AAR by 3.9% in the third quarter. IndexIQ Advisors LLC now owns 51,536 shares of the aerospace company’s stock worth $2,468,000 after buying an additional 1,946 shares during the period. Finally, NJ State Employees Deferred Compensation Plan lifted its holdings in AAR by 33.3% in the third quarter. NJ State Employees Deferred Compensation Plan now owns 8,000 shares of the aerospace company’s stock worth $383,000 after buying an additional 2,000 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.
In other AAR news, Director Ronald B. Woodard sold 10,239 shares of the firm’s stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $46.64, for a total value of $477,546.96. Following the completion of the sale, the director now directly owns 12,482 shares in the company, valued at $582,160.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David P. Storch sold 22,570 shares of the firm’s stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $44.05, for a total transaction of $994,208.50. Following the completion of the sale, the director now owns 587,852 shares of the company’s stock, valued at $25,894,880.60. The disclosure for this sale can be found here. Insiders sold 51,609 shares of company stock valued at $2,354,979 over the last 90 days. 7.43% of the stock is currently owned by company insiders.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 2nd. Shareholders of record on Monday, October 22nd were issued a $0.075 dividend. The ex-dividend date was Friday, October 19th. This represents a $0.30 annualized dividend and a yield of 0.71%. AAR’s dividend payout ratio (DPR) is presently 16.76%.
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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