Brokerages Expect AeroVironment, Inc. (NASDAQ:AVAV) Will Post Quarterly Sales of $109.88 Million

Brokerages expect that AeroVironment, Inc. (NASDAQ:AVAV) will report sales of $109.88 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for AeroVironment’s earnings, with the highest sales estimate coming in at $115.27 million and the lowest estimate coming in at $104.50 million. AeroVironment reported sales of $78.78 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 39.5%. The firm is expected to announce its next quarterly earnings report on Tuesday, March 8th.

On average, analysts expect that AeroVironment will report full-year sales of $456.56 million for the current year, with estimates ranging from $455.33 million to $457.80 million. For the next fiscal year, analysts expect that the company will report sales of $480.70 million, with estimates ranging from $479.10 million to $482.29 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for AeroVironment.

AeroVironment (NASDAQ:AVAV) last released its quarterly earnings data on Tuesday, December 7th. The aerospace company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.16. The company had revenue of $122.00 million during the quarter, compared to analysts’ expectations of $131.77 million. AeroVironment had a negative net margin of 0.07% and a positive return on equity of 7.62%. The firm’s revenue for the quarter was up 31.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.48 earnings per share.

AVAV has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of AeroVironment from a “hold” rating to a “strong sell” rating in a report on Friday, December 10th. Royal Bank of Canada decreased their price target on shares of AeroVironment from $95.00 to $65.00 and set a “sector perform” rating for the company in a research note on Wednesday, December 8th. Robert W. Baird reduced their target price on shares of AeroVironment from $120.00 to $72.00 and set an “outperform” rating for the company in a research note on Wednesday, December 8th. Finally, cut shares of AeroVironment from a “buy” rating to a “hold” rating and reduced their target price for the stock from $140.00 to $64.00 in a research note on Wednesday, December 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, AeroVironment presently has a consensus rating of “Hold” and a consensus price target of $92.17.

Shares of NASDAQ AVAV opened at $60.96 on Wednesday. The company has a current ratio of 3.59, a quick ratio of 2.78 and a debt-to-equity ratio of 0.30. The stock has a market cap of $1.51 billion, a PE ratio of -3,046.48 and a beta of 0.31. The company has a 50-day moving average of $72.64 and a 200 day moving average of $87.34. AeroVironment has a 12-month low of $53.50 and a 12-month high of $143.71.

Hedge funds have recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. bought a new stake in AeroVironment during the second quarter valued at $37,000. Daiwa Securities Group Inc. acquired a new stake in AeroVironment in the 3rd quarter valued at about $54,000. Advisory Services Network LLC acquired a new stake in AeroVironment in the 2nd quarter valued at about $83,000. Patriot Financial Group Insurance Agency LLC raised its holdings in AeroVironment by 350.0% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 900 shares of the aerospace company’s stock worth $78,000 after buying an additional 700 shares during the period. Finally, Truvestments Capital LLC raised its holdings in AeroVironment by 12.8% during the 2nd quarter. Truvestments Capital LLC now owns 1,020 shares of the aerospace company’s stock worth $102,000 after buying an additional 116 shares during the period. Hedge funds and other institutional investors own 81.63% of the company’s stock.

About AeroVironment

AeroVironment, Inc engages in the design, development, production, support and operation of unmanned aircraft systems and electric transportation solutions. The company was founded by Paul B. MacCready, Jr. in July 1971 and is headquartered in Arlington, VA.

Featured Story: Why is the price-sales ratio important?

Get a free copy of the Zacks research report on AeroVironment (AVAV)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for AeroVironment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AeroVironment and related companies with MarketBeat.com's FREE daily email newsletter.