AeroVironment, Inc. (AVAV) Expected to Post Quarterly Sales of $75.30 Million

Wall Street brokerages expect AeroVironment, Inc. (NASDAQ:AVAV) to announce sales of $75.30 million for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for AeroVironment’s earnings. The highest sales estimate is $83.00 million and the lowest is $69.30 million. AeroVironment posted sales of $63.94 million during the same quarter last year, which suggests a positive year over year growth rate of 17.8%. The company is scheduled to issue its next quarterly earnings results on Tuesday, March 5th.

On average, analysts expect that AeroVironment will report full-year sales of $308.31 million for the current financial year, with estimates ranging from $303.73 million to $320.00 million. For the next fiscal year, analysts forecast that the business will report sales of $374.89 million, with estimates ranging from $342.00 million to $460.00 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover AeroVironment.

AeroVironment (NASDAQ:AVAV) last released its quarterly earnings results on Thursday, November 29th. The aerospace company reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.13. The business had revenue of $72.98 million during the quarter, compared to the consensus estimate of $74.54 million. AeroVironment had a return on equity of 10.37% and a net margin of 15.31%. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.29 EPS.

Several brokerages have weighed in on AVAV. 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. BidaskClub raised AeroVironment from a “hold” rating to a “buy” rating in a report on Tuesday, January 29th. William Blair began coverage on AeroVironment in a report on Thursday, January 24th. They issued an “outperform” rating and a $73.60 price objective for the company. ValuEngine raised AeroVironment from a “hold” rating to a “buy” rating in a report on Wednesday, January 2nd. Finally, Drexel Hamilton reaffirmed a “hold” rating on shares of AeroVironment in a report on Friday, November 30th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $76.60.

In other news, Chairman Timothy E. Conver sold 10,350 shares of the business’s stock in a transaction 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 completion of the transaction, the chairman now owns 55,659 shares of the company’s stock, valued at approximately $4,073,125.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Timothy E. Conver sold 20,700 shares of the business’s stock in a transaction on Thursday, February 7th. The stock was sold at an average price of $76.43, for a total value of $1,582,101.00. Following the transaction, the chairman now directly owns 55,659 shares of the company’s stock, valued at approximately $4,254,017.37. The disclosure for this sale can be found here. Insiders sold a total of 51,750 shares of company stock valued at $3,844,611 over the last ninety days. Insiders own 11.70% of the company’s stock.

Several institutional investors have recently bought and sold shares of AVAV. Renaissance Technologies LLC acquired a new position in shares of AeroVironment during the 2nd quarter worth $4,310,000. OppenheimerFunds Inc. acquired a new position in shares of AeroVironment during the 2nd quarter worth $223,000. Bank of America Corp DE raised its holdings in shares of AeroVironment by 81.4% during the 2nd quarter. Bank of America Corp DE now owns 32,310 shares of the aerospace company’s stock worth $2,308,000 after buying an additional 14,498 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of AeroVironment during the 2nd quarter worth $158,000. Finally, Millennium Management LLC acquired a new position in shares of AeroVironment during the 2nd quarter worth $1,745,000. 85.53% of the stock is owned by institutional investors.

NASDAQ AVAV traded up $1.21 during midday trading on Monday, hitting $77.08. The company had a trading volume of 165,426 shares, compared to its average volume of 207,722. The stock has a market capitalization of $1.83 billion, a PE ratio of 71.37, a P/E/G ratio of 2.49 and a beta of 1.35. AeroVironment has a twelve month low of $41.60 and a twelve month high of $121.32.

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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