Aerojet Rocketdyne Holdings Inc (AJRD) Expected to Announce Quarterly Sales of $499.55 Million

Brokerages forecast that Aerojet Rocketdyne Holdings Inc (NYSE:AJRD) will announce $499.55 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Aerojet Rocketdyne’s earnings. The lowest sales estimate is $492.00 million and the highest is $507.10 million. Aerojet Rocketdyne posted sales of $528.20 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 5.4%. The company is scheduled to announce its next quarterly earnings report on Wednesday, February 20th.

According to Zacks, analysts expect that Aerojet Rocketdyne will report full-year sales of $1.96 billion for the current financial year, with estimates ranging from $1.95 billion to $1.97 billion. For the next fiscal year, analysts expect that the company will post sales of $2.03 billion, with estimates ranging from $2.02 billion to $2.03 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Aerojet Rocketdyne.

AJRD has been the subject of a number of analyst reports. Zacks Investment Research downgraded Aerojet Rocketdyne from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. ValuEngine upgraded Aerojet Rocketdyne from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. Finally, Credit Suisse Group upgraded Aerojet Rocketdyne from a “neutral” rating to an “outperform” rating in a research note on Monday, January 14th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $42.50.

A number of hedge funds have recently added to or reduced their stakes in AJRD. Raymond James & Associates lifted its position in shares of Aerojet Rocketdyne by 78.9% during the 4th quarter. Raymond James & Associates now owns 35,708 shares of the aerospace company’s stock worth $1,258,000 after buying an additional 15,749 shares in the last quarter. Eagle Asset Management Inc. lifted its position in shares of Aerojet Rocketdyne by 3.5% during the 4th quarter. Eagle Asset Management Inc. now owns 2,122,508 shares of the aerospace company’s stock worth $74,775,000 after buying an additional 72,151 shares in the last quarter. Texas Permanent School Fund lifted its position in shares of Aerojet Rocketdyne by 7.7% during the 4th quarter. Texas Permanent School Fund now owns 47,140 shares of the aerospace company’s stock worth $1,661,000 after buying an additional 3,378 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its position in shares of Aerojet Rocketdyne by 145.6% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 1,039 shares of the aerospace company’s stock worth $37,000 after buying an additional 616 shares in the last quarter. Finally, Lisanti Capital Growth LLC lifted its position in shares of Aerojet Rocketdyne by 35.6% during the 4th quarter. Lisanti Capital Growth LLC now owns 133,885 shares of the aerospace company’s stock worth $4,717,000 after buying an additional 35,170 shares in the last quarter.

AJRD stock opened at $39.44 on Tuesday. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of 53.30, a P/E/G ratio of 4.99 and a beta of 0.80. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.24 and a quick ratio of 1.24. Aerojet Rocketdyne has a 52-week low of $25.06 and a 52-week high of $40.99.

About Aerojet Rocketdyne

Aerojet Rocketdyne Holdings, Inc engages in the provision of innovative solutions in the field of aerospace and defense, as well as in the field of real estate. It operates through the following business segments: Aerospace & Defense, and Real Estate. The Aerospace & Defense segment operates through the Aerojet Rocketdyne, Inc in developing and manufacturing of aerospace and defense products and systems for the United States government, the National Aeronautics and Space Administration, major aerospace and defense prime contractors as well as portions of the commercial sector.

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