$81.73 Million in Sales Expected for AeroVironment, Inc. (NASDAQ:AVAV) This Quarter

Analysts expect that AeroVironment, Inc. (NASDAQ:AVAV) will announce $81.73 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for AeroVironment’s earnings, with estimates ranging from $68.60 million to $91.00 million. AeroVironment posted sales of $78.04 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.7%. The business is expected to announce its next quarterly earnings results on Wednesday, September 4th.

On average, analysts expect that AeroVironment will report full-year sales of $367.23 million for the current financial year, with estimates ranging from $346.90 million to $410.00 million. For the next financial year, analysts anticipate that the company will post sales of $415.33 million, with estimates ranging from $399.00 million to $440.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover AeroVironment.

AeroVironment (NASDAQ:AVAV) last released its quarterly earnings results on Tuesday, June 25th. The aerospace company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. AeroVironment had a net margin of 17.48% and a return on equity of 11.40%. The firm had revenue of $87.90 million for the quarter, compared to analysts’ expectations of $82.57 million. During the same quarter last year, the company earned $0.85 EPS. The firm’s revenue for the quarter was down 25.1% compared to the same quarter last year.

A number of equities research analysts recently issued reports on AVAV shares. BidaskClub cut shares of AeroVironment from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 5th. Zacks Investment Research raised shares of AeroVironment from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a research note on Tuesday, April 30th. ValuEngine raised shares of AeroVironment from a “hold” rating to a “buy” rating in a research note on Tuesday, May 14th. Canaccord Genuity raised shares of AeroVironment from a “hold” rating to a “buy” rating and lifted their target price for the stock from $84.00 to $86.00 in a research note on Tuesday, May 14th. Finally, TheStreet cut shares of AeroVironment from an “a-” rating to a “c+” rating in a research note on Monday, March 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $73.60.

AeroVironment stock traded down $5.53 during trading on Friday, reaching $55.78. The company had a trading volume of 70,687 shares, compared to its average volume of 201,953. The company has a 50-day moving average of $65.12. AeroVironment has a 1-year low of $56.00 and a 1-year high of $121.32. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 51.75, a PEG ratio of 1.49 and a beta of 1.29.

In related news, Chairman Timothy E. Conver sold 15,987 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $65.80, for a total value of $1,051,944.60. Following the sale, the chairman now directly owns 55,659 shares in the company, valued at approximately $3,662,362.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Timothy E. Conver sold 16,222 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $69.68, for a total transaction of $1,130,348.96. Following the completion of the sale, the chairman now owns 55,659 shares in the company, valued at $3,878,319.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 80,781 shares of company stock worth $5,391,781. 11.70% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. American Capital Management Inc. boosted its holdings in AeroVironment by 1.2% in the first quarter. American Capital Management Inc. now owns 1,480,491 shares of the aerospace company’s stock valued at $101,280,000 after purchasing an additional 17,320 shares in the last quarter. Citigroup Inc. boosted its holdings in shares of AeroVironment by 3.0% in the first quarter. Citigroup Inc. now owns 95,688 shares of the aerospace company’s stock valued at $6,546,000 after acquiring an additional 2,746 shares during the period. ARK Investment Management LLC boosted its holdings in shares of AeroVironment by 5.0% in the first quarter. ARK Investment Management LLC now owns 121,405 shares of the aerospace company’s stock valued at $8,305,000 after acquiring an additional 5,780 shares during the period. AlphaCrest Capital Management LLC acquired a new stake in shares of AeroVironment in the first quarter valued at approximately $739,000. Finally, GAM Holding AG acquired a new stake in shares of AeroVironment in the first quarter valued at approximately $343,000. Hedge funds and other institutional investors own 82.71% 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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