Brokerages Expect Aerojet Rocketdyne Holdings Inc (AJRD) Will Announce Earnings of $0.40 Per Share

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Wall Street analysts forecast that Aerojet Rocketdyne Holdings Inc (NYSE:AJRD) will post earnings of $0.40 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Aerojet Rocketdyne’s earnings, with the lowest EPS estimate coming in at $0.39 and the highest estimate coming in at $0.40. Aerojet Rocketdyne posted earnings of $0.45 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 11.1%. The firm is expected to announce its next quarterly earnings results on Monday, July 29th.

On average, analysts expect that Aerojet Rocketdyne will report full-year earnings of $1.67 per share for the current fiscal year. For the next financial year, analysts forecast that the firm will post earnings of $1.81 per share, with EPS estimates ranging from $1.74 to $1.87. Zacks’ EPS averages are an average based on a survey of analysts that that provide coverage for Aerojet Rocketdyne.

Aerojet Rocketdyne (NYSE:AJRD) last posted its quarterly earnings results on Tuesday, April 30th. The aerospace company reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.17. Aerojet Rocketdyne had a net margin of 8.55% and a return on equity of 34.95%. The firm had revenue of $491.70 million during the quarter, compared to the consensus estimate of $478.20 million. During the same quarter in the previous year, the firm posted $0.18 earnings per share. The company’s revenue was down .1% on a year-over-year basis.

AJRD has been the subject of several research analyst reports. SunTrust Banks lifted their price target on shares of Aerojet Rocketdyne to $45.00 and gave the company a “buy” rating in a research note on Wednesday, February 20th. Zacks Investment Research downgraded shares of Aerojet Rocketdyne from a “hold” rating to a “sell” rating in a research note on Monday, February 25th. Finally, ValuEngine downgraded shares of Aerojet Rocketdyne from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $45.00.

Shares of Aerojet Rocketdyne stock traded up $0.19 on Friday, hitting $37.07. 2,549 shares of the company traded hands, compared to its average volume of 714,863. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.45 and a current ratio of 1.45. Aerojet Rocketdyne has a 52 week low of $27.69 and a 52 week high of $40.99. The company has a market capitalization of $2.89 billion, a PE ratio of 19.16, a P/E/G ratio of 3.96 and a beta of 0.68.

In other news, CEO Eileen P. Drake sold 29,592 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $34.42, for a total transaction of $1,018,556.64. Following the transaction, the chief executive officer now directly owns 382,236 shares of the company’s stock, valued at $13,156,563.12. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.00% of the company’s stock.

Several hedge funds have recently modified their holdings of AJRD. Oregon Public Employees Retirement Fund acquired a new position in shares of Aerojet Rocketdyne during the fourth quarter worth $27,000. Manchester Capital Management LLC acquired a new position in shares of Aerojet Rocketdyne during the first quarter worth $36,000. Nikko Asset Management Americas Inc. increased its position in shares of Aerojet Rocketdyne by 145.6% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 1,039 shares of the aerospace company’s stock worth $37,000 after purchasing an additional 616 shares in the last quarter. Pearl River Capital LLC acquired a new position in shares of Aerojet Rocketdyne during the first quarter worth $64,000. Finally, Osborn Williams & Donohoe LLC acquired a new position in shares of Aerojet Rocketdyne during the first quarter worth $82,000.

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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Earnings History and Estimates for Aerojet Rocketdyne (NYSE:AJRD)

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