AeroVironment (NASDAQ:AVAV) Releases FY 2020 Earnings Guidance

AeroVironment (NASDAQ:AVAV) issued an update on its FY 2020 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.47-1.67 for the period, compared to the Thomson Reuters consensus estimate of $1.51. The company issued revenue guidance of $350-370 million, compared to the consensus revenue estimate of $356.59 million.

AeroVironment stock traded up $1.25 during trading hours on Wednesday, hitting $52.76. 303,714 shares of the stock traded hands, compared to its average volume of 236,533. The firm’s 50-day moving average price is $52.66 and its two-hundred day moving average price is $64.07. AeroVironment has a one year low of $48.61 and a one year high of $121.32. The company has a market cap of $1.27 billion, a PE ratio of 35.65, a PEG ratio of 1.35 and a beta of 1.14.

AeroVironment (NASDAQ:AVAV) last announced its earnings results on Tuesday, June 25th. The aerospace company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. The business had revenue of $87.90 million during the quarter, compared to analyst estimates of $82.57 million. AeroVironment had a net margin of 15.09% and a return on equity of 7.93%. The company’s quarterly revenue was down 25.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.85 EPS. On average, equities research analysts predict that AeroVironment will post 1.53 earnings per share for the current year.

Several brokerages have recently issued reports on AVAV. Piper Jaffray Companies decreased their target price on shares of AeroVironment from $79.00 to $74.00 and set a neutral rating on the stock in a research report on Tuesday, June 4th. William Blair reissued a buy rating on shares of AeroVironment in a research report on Wednesday, August 21st. Zacks Investment Research raised shares of AeroVironment from a sell rating to a hold rating in a research report on Tuesday, August 6th. BidaskClub lowered shares of AeroVironment from a sell rating to a strong sell rating in a research report on Wednesday, August 14th. Finally, Canaccord Genuity set a $80.00 price objective on shares of AeroVironment and gave the stock a buy rating in a research report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $74.32.

In other AeroVironment news, Chairman Timothy E. Conver sold 13,792 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $59.17, for a total value of $816,072.64. Following the completion of the sale, the chairman now directly owns 55,659 shares in the company, valued at $3,293,343.03. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Timothy E. Conver sold 6,896 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $50.93, for a total transaction of $351,213.28. Following the completion of the sale, the chairman now owns 56,660 shares of the company’s stock, valued at $2,885,693.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,856 shares of company stock worth $4,278,347. Insiders own 10.50% of the company’s stock.

About AeroVironment

AeroVironment, Inc designs, develops, produces, supports, and operates a portfolio of products and services for government agencies and businesses. The company offers unmanned aircraft systems (UAS) and related services primarily to organizations within the U.S. Department of Defense and to international allied governments; and tactical missile systems and related services to organizations within the U.S.

Further Reading: Outstanding Shares

Earnings History and Estimates for AeroVironment (NASDAQ:AVAV)

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