Zacks: Brokerages Expect AeroVironment, Inc. (NASDAQ:AVAV) Will Post Earnings of $0.66 Per Share

Brokerages expect that AeroVironment, Inc. (NASDAQ:AVAV) will post earnings of $0.66 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for AeroVironment’s earnings, with estimates ranging from $0.52 to $0.79. AeroVironment reported earnings per share of $0.48 during the same quarter last year, which suggests a positive year over year growth rate of 37.5%. The company is scheduled to announce its next quarterly earnings report on Tuesday, December 14th.

According to Zacks, analysts expect that AeroVironment will report full year earnings of $2.63 per share for the current financial year, with EPS estimates ranging from $2.59 to $2.66. For the next year, analysts anticipate that the business will post earnings of $3.09 per share, with EPS estimates ranging from $3.04 to $3.14. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for AeroVironment.

AeroVironment (NASDAQ:AVAV) last issued its quarterly earnings results on Tuesday, September 7th. The aerospace company reported ($0.17) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.07. The company had revenue of $101.00 million during the quarter, compared to analyst estimates of $98.81 million. AeroVironment had a negative net margin of 0.18% and a positive return on equity of 6.50%. AeroVironment’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.44 EPS.

A number of equities analysts recently commented on the stock. Canaccord Genuity lifted their target price on shares of AeroVironment from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday, September 3rd. Robert W. Baird reissued a “buy” rating and set a $120.00 price objective on shares of AeroVironment in a research note on Thursday, September 2nd. Imperial Capital started coverage on shares of AeroVironment in a research note on Friday, August 27th. They set an “in-line” rating and a $120.00 price objective on the stock. Finally, Zacks Investment Research lowered shares of AeroVironment from a “hold” rating to a “sell” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, AeroVironment currently has an average rating of “Hold” and an average price target of $113.33.

In other AeroVironment news, Chairman Timothy E. Conver sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, June 23rd. The shares were sold at an average price of $111.37, for a total transaction of $779,590.00. Following the transaction, the chairman now owns 45,115 shares of the company’s stock, valued at approximately $5,024,457.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Timothy E. Conver sold 6,300 shares of the firm’s stock in a transaction dated Thursday, September 2nd. The shares were sold at an average price of $103.22, for a total transaction of $650,286.00. Following the completion of the sale, the chairman now owns 46,445 shares in the company, valued at $4,794,052.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 83,400 shares of company stock valued at $8,454,902. 7.40% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in AVAV. Wealthcare Advisory Partners LLC purchased a new position in AeroVironment in the first quarter valued at approximately $28,000. Bbva USA acquired a new stake in shares of AeroVironment during the second quarter worth $25,000. Itau Unibanco Holding S.A. acquired a new stake in AeroVironment in the second quarter valued at $37,000. FORA Capital LLC acquired a new stake in AeroVironment in the first quarter valued at $52,000. Finally, Rockefeller Capital Management L.P. lifted its holdings in AeroVironment by 106.6% in the first quarter. Rockefeller Capital Management L.P. now owns 471 shares of the aerospace company’s stock valued at $54,000 after acquiring an additional 243 shares during the period. Hedge funds and other institutional investors own 78.54% of the company’s stock.

NASDAQ:AVAV traded down $2.26 during trading hours on Wednesday, hitting $86.67. The stock had a trading volume of 7,420 shares, compared to its average volume of 206,540. The company has a 50 day simple moving average of $99.45 and a two-hundred day simple moving average of $106.84. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.17 and a quick ratio of 3.15. AeroVironment has a one year low of $59.13 and a one year high of $143.71. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of -2,900.67 and a beta of 0.32.

AeroVironment Company Profile

AeroVironment, Inc engages in the design, development, production, support and operation of unmanned aircraft systems and electric transportation solutions. The company was founded by Paul B. MacCready, Jr. in July 1971 and is headquartered in Arlington, VA.

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Earnings History and Estimates for AeroVironment (NASDAQ:AVAV)

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