Wall Street brokerages forecast that Aerojet Rocketdyne Holdings Inc (NYSE:AJRD) will post $499.55 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Aerojet Rocketdyne’s earnings, with the highest sales estimate coming in at $507.10 million and the lowest estimate coming in at $492.00 million. Aerojet Rocketdyne reported sales of $528.20 million in the same quarter last year, which indicates a negative year-over-year growth rate of 5.4%. The business is expected to announce its next quarterly earnings results on Wednesday, February 20th.
On average, analysts expect that Aerojet Rocketdyne will report full-year sales of $1.96 billion for the current financial year, with estimates ranging from $1.95 billion to $1.97 billion. For the next financial year, analysts anticipate that the business will report sales of $2.03 billion, with estimates ranging from $2.02 billion to $2.03 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Aerojet Rocketdyne.
Aerojet Rocketdyne (NYSE:AJRD) last released its earnings results on Tuesday, October 30th. The aerospace company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.13. The company had revenue of $497.20 million for the quarter, compared to the consensus estimate of $479.64 million. Aerojet Rocketdyne had a return on equity of 42.70% and a net margin of 3.11%. Aerojet Rocketdyne’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.17 EPS.
In related news, Director Martin Turchin sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $37.78, for a total value of $188,900.00. Following the sale, the director now directly owns 85,650 shares in the company, valued at approximately $3,235,857. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.20% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of AJRD. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Aerojet Rocketdyne by 801.6% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 3,877 shares of the aerospace company’s stock worth $132,000 after buying an additional 3,447 shares during the last quarter. Seven Eight Capital LP purchased a new stake in shares of Aerojet Rocketdyne in the 3rd quarter valued at $207,000. WINTON GROUP Ltd purchased a new stake in shares of Aerojet Rocketdyne in the 3rd quarter valued at $222,000. Alambic Investment Management L.P. purchased a new stake in shares of Aerojet Rocketdyne in the 3rd quarter valued at $224,000. Finally, M Holdings Securities Inc. purchased a new stake in shares of Aerojet Rocketdyne in the 3rd quarter valued at $224,000.
Shares of Aerojet Rocketdyne stock traded down $0.27 on Wednesday, reaching $34.13. 667,376 shares of the company were exchanged, compared to its average volume of 478,971. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of 46.12, a PEG ratio of 4.40 and a beta of 0.88. Aerojet Rocketdyne has a 1-year low of $24.41 and a 1-year high of $38.92.
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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