AeroVironment, Inc. (AVAV) Expected to Announce Quarterly Sales of $82.32 Million

Wall Street analysts expect that AeroVironment, Inc. (NASDAQ:AVAV) will report $82.32 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for AeroVironment’s earnings, with the lowest sales estimate coming in at $76.30 million and the highest estimate coming in at $93.60 million. AeroVironment reported sales of $117.38 million during the same quarter last year, which indicates a negative year-over-year growth rate of 29.9%. The business is scheduled to issue its next quarterly earnings report on Tuesday, June 25th.

On average, analysts expect that AeroVironment will report full year sales of $308.61 million for the current fiscal year, with estimates ranging from $303.73 million to $320.00 million. For the next financial year, analysts forecast that the company will post sales of $368.89 million, with estimates ranging from $352.23 million to $410.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for AeroVironment.

AeroVironment (NASDAQ:AVAV) last released its quarterly earnings data on Tuesday, March 5th. The aerospace company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.21. AeroVironment had a return on equity of 11.40% and a net margin of 17.48%.

Several equities research analysts have recently weighed in on the company. BidaskClub lowered AeroVironment from a “buy” rating to a “hold” rating in a research note on Saturday, March 16th. TheStreet lowered AeroVironment from an “a-” rating to a “c+” rating in a research report on Monday, March 11th. Finally, Zacks Investment Research upgraded AeroVironment from a “hold” rating to a “strong-buy” rating and set a $91.00 price target on the stock in a research report on Friday, March 8th. Six analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $77.60.

Shares of AVAV stock traded down $0.05 during trading hours on Friday, hitting $68.41. The company had a trading volume of 146,426 shares, compared to its average volume of 290,912. AeroVironment has a 12 month low of $44.68 and a 12 month high of $121.32. The firm has a market cap of $1.64 billion, a P/E ratio of 63.34, a P/E/G ratio of 1.80 and a beta of 1.36.

In related news, Chairman Timothy E. Conver sold 10,350 shares of the stock in a transaction that occurred on Wednesday, January 23rd. The stock was sold at an average price of $73.18, for a total transaction 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Timothy E. Conver sold 20,688 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $82.88, for a total value of $1,714,621.44. Following the sale, the chairman now owns 55,659 shares in the company, valued at $4,613,017.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,826 shares of company stock worth $8,722,372. 11.70% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AVAV. IMS Capital Management bought a new stake in AeroVironment during the 3rd quarter worth approximately $25,000. Laurel Wealth Advisors LLC bought a new position in AeroVironment in the 4th quarter valued at $68,000. Bank of Montreal Can boosted its position in AeroVironment by 12.9% in the 4th quarter. Bank of Montreal Can now owns 1,350 shares of the aerospace company’s stock valued at $91,000 after buying an additional 154 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in AeroVironment by 24.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,496 shares of the aerospace company’s stock valued at $102,000 after buying an additional 296 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new position in AeroVironment in the 4th quarter valued at $122,000. Institutional investors and hedge funds own 85.55% of the company’s stock.

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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