Analysts Anticipate Aerojet Rocketdyne Holdings Inc (AJRD) Will Post Quarterly Sales of $465.05 Million

Equities analysts expect Aerojet Rocketdyne Holdings Inc (NYSE:AJRD) to announce $465.05 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Aerojet Rocketdyne’s earnings. The lowest sales estimate is $456.80 million and the highest is $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 firm 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 fiscal year, with estimates ranging from $1.90 billion to $1.96 billion. For the next year, analysts forecast 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 analysts that that provide coverage for Aerojet Rocketdyne.

Aerojet Rocketdyne (NYSE:AJRD) last released its quarterly earnings results on Tuesday, May 1st. The aerospace company reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.01). Aerojet Rocketdyne had a negative net margin of 0.06% and a positive return on equity of 46.38%. The firm had revenue of $492.00 million for the quarter, compared to the consensus estimate of $417.68 million. During the same quarter in the prior year, the firm earned $0.08 earnings per share. The company’s revenue for the quarter was up 21.4% compared to the same quarter last year.

Several research firms recently weighed in on AJRD. Zacks Investment Research lowered Aerojet Rocketdyne from a “hold” rating to a “sell” rating in a research report on Friday, May 4th. ValuEngine upgraded Aerojet Rocketdyne from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $36.33.

Shares of Aerojet Rocketdyne traded down $1.19, hitting $28.07, during mid-day trading on Wednesday, according to Marketbeat Ratings. 444,891 shares of the stock traded hands, compared to its average volume of 723,856. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 3.47. Aerojet Rocketdyne has a 52 week low of $23.12 and a 52 week high of $36.25. The firm has a market capitalization of $2.16 billion, a PE ratio of 37.93, a P/E/G ratio of 5.09 and a beta of 1.13.

A number of large investors have recently made changes to their positions in the business. Pegasus Partners Ltd. raised its stake in Aerojet Rocketdyne by 6.0% during the second quarter. Pegasus Partners Ltd. now owns 131,456 shares of the aerospace company’s stock valued at $3,877,000 after buying an additional 7,490 shares during the last quarter. Eidelman Virant Capital raised its stake in Aerojet Rocketdyne by 298.5% during the second quarter. Eidelman Virant Capital now owns 6,675 shares of the aerospace company’s stock valued at $196,000 after buying an additional 5,000 shares during the last quarter. Reinhart Partners Inc. raised its stake in Aerojet Rocketdyne by 18.6% during the second quarter. Reinhart Partners Inc. now owns 916,866 shares of the aerospace company’s stock valued at $27,038,000 after buying an additional 144,013 shares during the last quarter. LS Investment Advisors LLC raised its stake in Aerojet Rocketdyne by 99.3% during the second quarter. LS Investment Advisors LLC now owns 4,556 shares of the aerospace company’s stock valued at $134,000 after buying an additional 2,270 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Aerojet Rocketdyne by 2.1% during the first quarter. Principal Financial Group Inc. now owns 616,157 shares of the aerospace company’s stock valued at $17,234,000 after buying an additional 12,780 shares during the last quarter.

About Aerojet Rocketdyne

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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