$82.32 Million in Sales Expected for AeroVironment, Inc. (AVAV) This Quarter

Brokerages predict that AeroVironment, Inc. (NASDAQ:AVAV) will post $82.32 million in sales for the current quarter, Zacks reports. Five analysts have made estimates for AeroVironment’s earnings. The lowest sales estimate is $76.30 million and the highest is $93.60 million. AeroVironment posted sales of $117.38 million during the same quarter last year, which suggests a negative year over year growth rate of 29.9%. The company is expected to announce its next earnings report on Tuesday, June 25th.

On average, analysts expect that AeroVironment will report full year sales of $308.87 million for the current year, with estimates ranging from $303.73 million to $320.00 million. For the next financial year, analysts forecast that the firm will report sales of $366.67 million, with estimates ranging from $346.90 million to $410.00 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover AeroVironment.

AeroVironment (NASDAQ:AVAV) last announced its quarterly earnings data on Tuesday, March 5th. The aerospace company reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.21. The company had revenue of $75.32 million for the quarter, compared to analysts’ expectations of $75.30 million. AeroVironment had a return on equity of 11.40% and a net margin of 17.48%.

Several research analysts have recently weighed in on AVAV shares. BidaskClub upgraded AeroVironment from a “hold” rating to a “buy” rating in a research note on Tuesday, January 29th. ValuEngine raised AeroVironment from a “hold” rating to a “buy” rating in a report on Wednesday, January 2nd. Zacks Investment Research raised AeroVironment from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Monday, February 11th. Finally, TheStreet lowered AeroVironment from an “a-” rating to a “c+” rating in a report on Monday, March 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. AeroVironment has a consensus rating of “Hold” and an average price target of $77.60.

In other AeroVironment news, Chairman Timothy E. Conver sold 20,700 shares of the stock in a transaction on Thursday, February 7th. The stock was sold at an average price of $76.43, for a total transaction of $1,582,101.00. Following the sale, the chairman now owns 55,659 shares of the company’s stock, valued at approximately $4,254,017.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Timothy E. Conver sold 10,350 shares of the stock in a transaction on Wednesday, January 23rd. The shares were sold at an average price of $73.18, for a total value of $757,413.00. Following the sale, the chairman now directly owns 55,659 shares in the company, valued at approximately $4,073,125.62. The disclosure for this sale can be found here. Insiders have sold a total of 109,348 shares of company stock worth $8,347,624 in the last ninety days. Insiders own 11.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in AVAV. Tibra Equities Europe Ltd acquired a new stake in AeroVironment in the 1st quarter worth about $1,300,000. Deutsche Bank AG boosted its holdings in AeroVironment by 10.1% in the 4th quarter. Deutsche Bank AG now owns 258,074 shares of the aerospace company’s stock worth $17,534,000 after buying an additional 23,643 shares during the last quarter. Geode Capital Management LLC boosted its holdings in AeroVironment by 5.9% in the 4th quarter. Geode Capital Management LLC now owns 237,914 shares of the aerospace company’s stock worth $16,166,000 after buying an additional 13,230 shares during the last quarter. Norges Bank acquired a new stake in AeroVironment in the 4th quarter worth about $12,704,000. Finally, Amalgamated Bank acquired a new stake in AeroVironment in the 4th quarter worth about $225,000. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Shares of AVAV stock traded down $2.51 during mid-day trading on Friday, hitting $64.24. The company’s stock had a trading volume of 7,038 shares, compared to its average volume of 235,497. AeroVironment has a 52-week low of $49.69 and a 52-week high of $121.32. The stock has a market capitalization of $1.59 billion, a P/E ratio of 59.52, a P/E/G ratio of 1.79 and a beta of 1.33.

AeroVironment Company Profile

AeroVironment, Inc designs, develops, produces, supports, and operates a portfolio of products and services for government agencies and businesses. The company offers unmanned aircraft systems (UAS) and related services primarily to organizations within the U.S. Department of Defense and to international allied governments; and tactical missile systems and related services to organizations within the U.S.

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Earnings History and Estimates for AeroVironment (NASDAQ:AVAV)

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