Brokerages forecast that Aerojet Rocketdyne Holdings Inc (NYSE:AJRD) will post $477.75 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Aerojet Rocketdyne’s earnings, with the lowest sales estimate coming in at $466.60 million and the highest estimate coming in at $488.90 million. Aerojet Rocketdyne posted sales of $484.10 million in the same quarter last year, which suggests a negative year-over-year growth rate of 1.3%. The firm is scheduled to announce its next quarterly earnings results on Thursday, November 1st.

According to Zacks, analysts expect that Aerojet Rocketdyne will report full year sales of $1.93 billion for the current financial year, with estimates ranging from $1.91 billion to $1.96 billion. For the next fiscal year, analysts anticipate that the company will report sales of $2.01 billion, with estimates ranging from $2.00 billion to $2.03 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Aerojet Rocketdyne.

Aerojet Rocketdyne (NYSE:AJRD) last posted its quarterly earnings results on Monday, July 30th. The aerospace company reported $0.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.18. Aerojet Rocketdyne had a return on equity of 46.03% and a net margin of 0.48%. The firm had revenue of $467.20 million for the quarter, compared to the consensus estimate of $457.41 million. During the same period in the previous year, the business earned $0.32 earnings per share. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year.

A number of analysts recently weighed in on AJRD shares. TheStreet upgraded Aerojet Rocketdyne from a “c+” rating to a “b” rating in a research note on Friday, August 3rd. SunTrust Banks lifted their price target on Aerojet Rocketdyne from $36.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, August 21st. ValuEngine downgraded Aerojet Rocketdyne from a “buy” rating to a “hold” rating in a research note on Monday, September 24th. Finally, Zacks Investment Research upgraded Aerojet Rocketdyne from a “sell” rating to a “hold” rating in a research note on Tuesday, July 3rd. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $36.67.

In other Aerojet Rocketdyne news, Director James H. Perry sold 25,225 shares of the business’s stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $34.33, for a total transaction of $865,974.25. Following the sale, the director now directly owns 113,140 shares in the company, valued at $3,884,096.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Martin Turchin sold 5,000 shares of the business’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $36.43, for a total value of $182,150.00. Following the sale, the director now owns 90,650 shares in the company, valued at $3,302,379.50. The disclosure for this sale can be found here. 3.20% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Eagle Asset Management Inc. lifted its position in shares of Aerojet Rocketdyne by 230.1% in the second quarter. Eagle Asset Management Inc. now owns 1,560,632 shares of the aerospace company’s stock valued at $46,023,000 after acquiring an additional 1,087,866 shares in the last quarter. Carillon Tower Advisers Inc. lifted its position in shares of Aerojet Rocketdyne by 197.6% in the second quarter. Carillon Tower Advisers Inc. now owns 1,324,247 shares of the aerospace company’s stock valued at $39,051,000 after acquiring an additional 879,297 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Aerojet Rocketdyne by 27.6% in the second quarter. Victory Capital Management Inc. now owns 3,550,475 shares of the aerospace company’s stock valued at $104,703,000 after acquiring an additional 768,151 shares in the last quarter. Advisors Asset Management Inc. purchased a new stake in shares of Aerojet Rocketdyne in the second quarter valued at $278,000. Finally, Waddell & Reed Financial Inc. purchased a new stake in shares of Aerojet Rocketdyne in the second quarter valued at $7,081,000.

Shares of Aerojet Rocketdyne stock traded down $0.32 during trading on Monday, reaching $32.64. The company’s stock had a trading volume of 582,256 shares, compared to its average volume of 725,426. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.60 and a quick ratio of 1.60. Aerojet Rocketdyne has a 12-month low of $24.41 and a 12-month high of $37.70. The company has a market cap of $2.57 billion, a PE ratio of 44.11, a price-to-earnings-growth ratio of 4.87 and a beta of 1.07.

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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