Wall Street brokerages expect Aerojet Rocketdyne Holdings (NYSE:AJRD) to post sales of $465.05 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Aerojet Rocketdyne’s earnings, with the lowest sales estimate coming in at $456.80 million and the highest estimate coming in at $473.30 million. Aerojet Rocketdyne reported sales of $459.60 million in the same quarter last year, which indicates a positive year-over-year growth rate of 1.2%. The business is scheduled to announce its next quarterly earnings report on Thursday, August 2nd.
According to Zacks, analysts expect that Aerojet Rocketdyne will report full year sales of $1.93 billion for the current year, with estimates ranging from $1.90 billion to $1.96 billion. For the next financial year, analysts anticipate that the company will report sales of $2.01 billion per share, with estimates ranging from $2.00 billion to $2.03 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Aerojet Rocketdyne.
Get Aerojet Rocketdyne alerts:Aerojet Rocketdyne (NYSE:AJRD) last issued its earnings results on Tuesday, May 1st. The aerospace company reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.01). The business had revenue of $492.00 million for the quarter, compared to the consensus estimate of $417.68 million. Aerojet Rocketdyne had a positive return on equity of 46.38% and a negative net margin of 0.06%. The company’s quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.08 earnings per share.
A number of research firms recently commented on AJRD. Zacks Investment Research lowered shares of Aerojet Rocketdyne from a “hold” rating to a “sell” rating in a research note on Friday, May 4th. ValuEngine raised shares of Aerojet Rocketdyne from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $37.33.
Aerojet Rocketdyne stock traded up $0.47 during midday trading on Wednesday, reaching $29.19. The stock had a trading volume of 547,328 shares, compared to its average volume of 794,415. Aerojet Rocketdyne has a twelve month low of $20.17 and a twelve month high of $36.25. The company has a debt-to-equity ratio of 3.47, a quick ratio of 1.54 and a current ratio of 1.54. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 39.45, a P/E/G ratio of 5.38 and a beta of 1.03.
A number of institutional investors have recently bought and sold shares of AJRD. Carillon Tower Advisers Inc. acquired a new position in Aerojet Rocketdyne in the 1st quarter worth approximately $12,445,000. Eagle Asset Management Inc. boosted its stake in Aerojet Rocketdyne by 621.7% in the 4th quarter. Eagle Asset Management Inc. now owns 464,294 shares of the aerospace company’s stock worth $14,485,000 after purchasing an additional 399,958 shares during the period. Reinhart Partners Inc. boosted its stake in Aerojet Rocketdyne by 433.7% in the 4th quarter. Reinhart Partners Inc. now owns 384,282 shares of the aerospace company’s stock worth $11,990,000 after purchasing an additional 312,274 shares during the period. JPMorgan Chase & Co. boosted its stake in Aerojet Rocketdyne by 151.7% in the 1st quarter. JPMorgan Chase & Co. now owns 365,756 shares of the aerospace company’s stock worth $10,230,000 after purchasing an additional 220,428 shares during the period. Finally, Thrivent Financial for Lutherans boosted its stake in Aerojet Rocketdyne by 461.3% in the 1st quarter. Thrivent Financial for Lutherans now owns 261,406 shares of the aerospace company’s stock worth $7,312,000 after purchasing an additional 214,838 shares during the period. 97.76% of the stock is owned by hedge funds and other institutional investors.
Aerojet Rocketdyne Company Profile
Aerojet Rocketdyne Holdings, Inc designs, develops, manufactures, and sells aerospace and defense products and systems in the United States. The company operates through two segments, Aerospace and Defense, and Real Estate. The Aerospace and Defense segment offers aerospace and defense products and systems for the United States government, including the Department of Defense, the National Aeronautics and Space Administration, and aerospace and defense prime contractors.
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