AAR Corp. Forecasted to Earn FY2019 Earnings of $2.72 Per Share (AIR)
AAR Corp. (NYSE:AIR) – Equities researchers at Seaport Global Securities cut their FY2019 EPS estimates for AAR in a research report issued on Tuesday, November 20th. Seaport Global Securities analyst J. Sullivan now anticipates that the aerospace company will post earnings per share of $2.72 for the year, down from their previous forecast of $2.74.
A number of other research firms have also recently issued reports on AIR. Noble Financial reiterated a “buy” rating and issued a $57.00 price objective on shares of AAR in a report on Thursday, September 27th. Credit Suisse Group upped their price objective on AAR from $51.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, September 28th. Canaccord Genuity upped their price objective on AAR from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, September 26th. SunTrust Banks cut AAR from a “buy” rating to a “hold” rating and cut their price objective for the stock from $50.00 to $47.00 in a report on Tuesday, September 11th. Finally, ValuEngine upgraded AAR from a “hold” rating to a “buy” rating in a report on Tuesday, September 18th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $53.17.
AAR (NYSE:AIR) last posted its quarterly earnings data on Tuesday, September 25th. The aerospace company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. AAR had a return on equity of 7.27% and a net margin of 1.08%. The firm had revenue of $466.30 million during the quarter, compared to analysts’ expectations of $452.72 million. During the same period in the prior year, the business earned $0.31 EPS. The company’s revenue for the quarter was up 17.2% compared to the same quarter last year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 2nd. Stockholders of record on Monday, October 22nd were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend was Friday, October 19th. AAR’s payout ratio is currently 16.76%.
In other news, Director Ronald B. Woodard sold 10,239 shares of the business’s stock in a transaction dated Thursday, September 27th. The stock was 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 owns 12,482 shares of the company’s stock, valued at approximately $582,160.48. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director David P. Storch sold 18,800 shares of the business’s stock in a transaction dated Thursday, October 4th. The shares were sold at an average price of $46.98, for a total value of $883,224.00. Following the completion of the sale, the director now directly owns 619,222 shares of the company’s stock, valued at approximately $29,091,049.56. The disclosure for this sale can be found here. Insiders sold a total of 51,609 shares of company stock valued at $2,354,979 over the last quarter. Company insiders own 7.43% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlueMountain Capital Management LLC bought a new stake in shares of AAR in the 2nd quarter valued at about $159,000. Waddell & Reed Financial Inc. bought a new stake in shares of AAR in the 2nd quarter valued at about $1,316,000. Northern Trust Corp lifted its stake in shares of AAR by 3.0% in the 2nd quarter. Northern Trust Corp now owns 1,311,473 shares of the aerospace company’s stock valued at $60,970,000 after acquiring an additional 38,166 shares during the last quarter. WINTON GROUP Ltd lifted its stake in shares of AAR by 27.5% in the 2nd quarter. WINTON GROUP Ltd now owns 7,665 shares of the aerospace company’s stock valued at $356,000 after acquiring an additional 1,651 shares during the last quarter. Finally, State of Wisconsin Investment Board bought a new stake in shares of AAR in the 2nd quarter valued at about $2,162,000. 89.30% of the stock is owned by institutional investors.
AAR Company Profile
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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