Aerojet Rocketdyne Holdings Inc (NYSE:AJRD) Expected to Post Earnings of $0.43 Per Share

Wall Street analysts forecast that Aerojet Rocketdyne Holdings Inc (NYSE:AJRD) will announce $0.43 earnings per share for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Aerojet Rocketdyne’s earnings, with estimates ranging from $0.40 to $0.46. Aerojet Rocketdyne reported earnings per share of $0.50 during the same quarter last year, which indicates a negative year-over-year growth rate of 14%. The business is scheduled to issue its next earnings report on Wednesday, July 29th.

According to Zacks, analysts expect that Aerojet Rocketdyne will report full year earnings of $1.76 per share for the current financial year, with EPS estimates ranging from $1.74 to $1.78. For the next fiscal year, analysts anticipate that the business will post earnings of $1.86 per share, with EPS estimates ranging from $1.78 to $1.94. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Aerojet Rocketdyne.

Aerojet Rocketdyne (NYSE:AJRD) last released its quarterly earnings data on Tuesday, April 28th. The aerospace company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.09). Aerojet Rocketdyne had a net margin of 6.80% and a return on equity of 21.60%. The firm had revenue of $476.10 million for the quarter, compared to the consensus estimate of $518.50 million. During the same quarter in the prior year, the firm posted $0.44 earnings per share. The business’s revenue for the quarter was down 3.2% on a year-over-year basis.

A number of equities analysts have recently issued reports on AJRD shares. Royal Bank of Canada began coverage on shares of Aerojet Rocketdyne in a research report on Wednesday, May 20th. They set a “sector perform” rating and a $45.00 target price on the stock. TheStreet upgraded Aerojet Rocketdyne from a “c+” rating to a “b-” rating in a research report on Tuesday, June 9th. Canaccord Genuity reaffirmed a “buy” rating and issued a $54.00 target price on shares of Aerojet Rocketdyne in a research note on Thursday, April 30th. Finally, SunTrust Banks restated a “buy” rating and set a $56.00 target price (up previously from $45.00) on shares of Aerojet Rocketdyne in a report on Thursday, May 21st. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $52.67.

In other Aerojet Rocketdyne news, Director Thomas A. Corcoran sold 6,800 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $40.94, for a total transaction of $278,392.00. Following the completion of the transaction, the director now owns 3,677 shares in the company, valued at approximately $150,536.38. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.50% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the business. State Street Corp lifted its position in shares of Aerojet Rocketdyne by 2.9% in the first quarter. State Street Corp now owns 3,842,848 shares of the aerospace company’s stock worth $160,746,000 after purchasing an additional 109,299 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Aerojet Rocketdyne by 3.1% during the 1st quarter. Bank of New York Mellon Corp now owns 2,203,715 shares of the aerospace company’s stock worth $92,183,000 after purchasing an additional 65,253 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Aerojet Rocketdyne by 15.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,017,346 shares of the aerospace company’s stock worth $92,112,000 after purchasing an additional 270,763 shares during the period. Mackenzie Financial Corp increased its position in shares of Aerojet Rocketdyne by 56.1% in the first quarter. Mackenzie Financial Corp now owns 1,030,061 shares of the aerospace company’s stock worth $43,087,000 after purchasing an additional 370,211 shares during the period. Finally, Geode Capital Management LLC raised its stake in Aerojet Rocketdyne by 3.2% in the first quarter. Geode Capital Management LLC now owns 1,010,715 shares of the aerospace company’s stock valued at $42,278,000 after purchasing an additional 31,625 shares in the last quarter.

AJRD stock traded down $0.31 during midday trading on Friday, reaching $38.80. 525,162 shares of the company’s stock traded hands, compared to its average volume of 725,788. Aerojet Rocketdyne has a 1-year low of $34.01 and a 1-year high of $57.27. The company has a market cap of $3.05 billion, a price-to-earnings ratio of 24.25 and a beta of 0.44. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.63. The company has a 50-day simple moving average of $41.43 and a two-hundred day simple moving average of $45.44.

Aerojet Rocketdyne Company Profile

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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