Wall Street analysts forecast that AAR Corp. (NYSE:AIR) will report earnings of $0.62 per share for the current quarter, Zacks reports. Two analysts have made estimates for AAR’s earnings. AAR posted earnings per share of $0.54 in the same quarter last year, which would indicate a positive year over year growth rate of 14.8%. The company is scheduled to report its next quarterly earnings report on Tuesday, July 9th.
According to Zacks, analysts expect that AAR will report full-year earnings of $2.54 per share for the current financial year. For the next financial year, analysts forecast that the company will report earnings of $2.73 per share, with EPS estimates ranging from $2.71 to $2.75. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that cover AAR.
Several research firms have recently issued reports on AIR. Canaccord Genuity restated a “buy” rating and issued a $48.00 target price on shares of AAR in a report on Wednesday, March 20th. ValuEngine upgraded shares of AAR from a “strong sell” rating to a “sell” rating in a report on Thursday, June 6th. Finally, Zacks Investment Research upgraded shares of AAR from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a report on Tuesday, May 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $49.50.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund bought a new stake in AAR during the 4th quarter valued at about $463,000. Metropolitan Life Insurance Co. NY lifted its holdings in AAR by 316.8% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 10,453 shares of the aerospace company’s stock valued at $390,000 after buying an additional 7,945 shares in the last quarter. Prudential Financial Inc. lifted its holdings in AAR by 21.3% during the 4th quarter. Prudential Financial Inc. now owns 293,751 shares of the aerospace company’s stock valued at $10,969,000 after buying an additional 51,652 shares in the last quarter. Texas Permanent School Fund lifted its holdings in AAR by 4.9% during the 4th quarter. Texas Permanent School Fund now owns 21,325 shares of the aerospace company’s stock valued at $796,000 after buying an additional 997 shares in the last quarter. Finally, Nomura Holdings Inc. bought a new stake in AAR during the 4th quarter valued at about $665,000. Institutional investors own 89.46% of the company’s stock.
Shares of NYSE:AIR opened at $35.17 on Friday. The business has a fifty day simple moving average of $32.47. The stock has a market cap of $1.22 billion, a PE ratio of 14.11 and a beta of 1.07. The company has a quick ratio of 1.33, a current ratio of 2.76 and a debt-to-equity ratio of 0.20. AAR has a 52 week low of $29.84 and a 52 week high of $51.52.
AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The company operates in two segments, Aviation Services and Expeditionary Services. The Aviation Services segment offers aftermarket support and services; inventory management and distribution services; and maintenance, repair, and overhaul, as well as engineering services.
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