AeroVironment, Inc. (AVAV) Expected to Post Quarterly Sales of $74.83 Million

Wall Street analysts expect that AeroVironment, Inc. (NASDAQ:AVAV) will post sales of $74.83 million for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for AeroVironment’s earnings, with the highest sales estimate coming in at $80.00 million and the lowest estimate coming in at $71.80 million. AeroVironment posted sales of $73.83 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 1.4%. The firm is expected to report its next earnings report on Tuesday, December 4th.

On average, analysts expect that AeroVironment will report full year sales of $307.72 million for the current year, with estimates ranging from $300.00 million to $320.00 million. For the next fiscal year, analysts forecast that the company will report sales of $376.68 million, with estimates ranging from $342.00 million to $460.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow AeroVironment.

AeroVironment (NASDAQ:AVAV) last announced its quarterly earnings results on Wednesday, September 5th. The aerospace company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.79. AeroVironment had a net margin of 15.56% and a return on equity of 10.71%. The company had revenue of $78.04 million during the quarter, compared to analyst estimates of $73.65 million. During the same quarter in the previous year, the business earned ($0.19) EPS. The firm’s revenue was up 127.1% on a year-over-year basis.

Several equities analysts have recently issued reports on AVAV shares. BidaskClub raised shares of AeroVironment from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 11th. Robert W. Baird boosted their price target on shares of AeroVironment from $52.00 to $74.00 and gave the company a “neutral” rating in a report on Tuesday, August 28th. Piper Jaffray Companies reissued a “neutral” rating and issued a $77.00 price target on shares of AeroVironment in a report on Thursday, September 6th. Canaccord Genuity boosted their price target on shares of AeroVironment from $60.00 to $80.00 and gave the company a “hold” rating in a report on Thursday, September 6th. Finally, Zacks Investment Research raised shares of AeroVironment from a “hold” rating to a “strong-buy” rating and set a $115.00 price target for the company in a report on Friday, September 7th. Six equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $83.20.

Shares of AVAV stock traded down $0.02 on Friday, hitting $103.23. The stock had a trading volume of 160,271 shares, compared to its average volume of 357,349. AeroVironment has a twelve month low of $41.53 and a twelve month high of $121.32. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 95.58, a price-to-earnings-growth ratio of 4.51 and a beta of 1.31.

A number of institutional investors and hedge funds have recently bought and sold shares of AVAV. Sei Investments Co. bought a new stake in AeroVironment in the 1st quarter valued at $100,000. Commonwealth Equity Services LLC lifted its position in AeroVironment by 25.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 4,687 shares of the aerospace company’s stock valued at $213,000 after acquiring an additional 946 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in AeroVironment in the 1st quarter valued at $235,000. Principal Financial Group Inc. lifted its position in AeroVironment by 3.1% in the 1st quarter. Principal Financial Group Inc. now owns 176,619 shares of the aerospace company’s stock valued at $8,038,000 after acquiring an additional 5,345 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its position in AeroVironment by 16.1% in the 1st quarter. Allianz Asset Management GmbH now owns 174,545 shares of the aerospace company’s stock valued at $7,943,000 after acquiring an additional 24,265 shares in the last quarter. 82.45% of the stock is currently owned by institutional investors and hedge funds.

About AeroVironment

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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