Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) – Research analysts at SunTrust Banks issued their Q1 2018 earnings estimates for shares of Aerojet Rocketdyne in a note issued to investors on Wednesday. SunTrust Banks analyst M. Ciarmoli expects that the aerospace company will earn $0.16 per share for the quarter. SunTrust Banks has a “Buy” rating and a $40.00 price objective on the stock. SunTrust Banks also issued estimates for Aerojet Rocketdyne’s Q2 2018 earnings at $0.22 EPS, Q3 2018 earnings at $0.26 EPS, Q4 2018 earnings at $0.32 EPS and FY2018 earnings at $0.96 EPS.
Several other research firms have also recently weighed in on AJRD. Zacks Investment Research upgraded Aerojet Rocketdyne from a “hold” rating to a “strong-buy” rating and set a $37.00 target price for the company in a research note on Wednesday, January 10th. BidaskClub cut Aerojet Rocketdyne from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Aerojet Rocketdyne has a consensus rating of “Hold” and a consensus target price of $37.33.
Aerojet Rocketdyne (NYSE:AJRD) last posted its earnings results on Wednesday, February 21st. The aerospace company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.12). The business had revenue of $528.20 million for the quarter, compared to analysts’ expectations of $540.35 million. Aerojet Rocketdyne had a positive return on equity of 47.43% and a negative net margin of 0.49%. Aerojet Rocketdyne’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.74 EPS.
A number of hedge funds have recently bought and sold shares of AJRD. Oppenheimer Asset Management Inc. purchased a new stake in Aerojet Rocketdyne in the third quarter valued at approximately $101,000. IFP Advisors Inc lifted its stake in Aerojet Rocketdyne by 1,129.9% in the fourth quarter. IFP Advisors Inc now owns 3,542 shares of the aerospace company’s stock valued at $111,000 after buying an additional 3,254 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in Aerojet Rocketdyne by 18.0% in the second quarter. Ameritas Investment Partners Inc. now owns 6,071 shares of the aerospace company’s stock valued at $126,000 after buying an additional 925 shares during the last quarter. Greenleaf Trust lifted its stake in Aerojet Rocketdyne by 97.2% in the fourth quarter. Greenleaf Trust now owns 4,300 shares of the aerospace company’s stock valued at $134,000 after buying an additional 2,120 shares during the last quarter. Finally, Fortaleza Asset Management Inc. purchased a new stake in Aerojet Rocketdyne in the third quarter valued at approximately $136,000. Hedge funds and other institutional investors own 98.11% of the company’s stock.
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Aerojet Rocketdyne Company Profile
GenCorp Inc, incorporated in 1915, is a manufacturer of aerospace and defense products and systems with a real estate segment that includes activities related to the re-zoning, entitlement, sale, and leasing of its excess real estate assets. The Company develops and manufactures propulsion systems for defense and space applications, and armaments for precision tactical and long range weapon systems applications.
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