Brokerages expect Aerojet Rocketdyne Holdings Inc (NYSE:AJRD) to announce $477.75 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Aerojet Rocketdyne’s earnings. The lowest sales estimate is $466.60 million and the highest is $488.90 million. Aerojet Rocketdyne posted sales of $484.10 million in the same quarter last year, which would indicate a negative year over year growth rate of 1.3%. The business is expected to report its next 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 fiscal year, with estimates ranging from $1.91 billion to $1.96 billion. For the next fiscal year, analysts forecast that the business will post sales of $2.01 billion per share, with estimates ranging from $2.00 billion to $2.03 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Aerojet Rocketdyne.

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

AJRD has been the subject of several analyst reports. SunTrust Banks increased their target price on shares of Aerojet Rocketdyne from $36.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday, August 21st. Zacks Investment Research upgraded shares of Aerojet Rocketdyne from a “sell” rating to a “hold” rating in a report on Tuesday, July 3rd. Finally, TheStreet upgraded shares of Aerojet Rocketdyne from a “c+” rating to a “b” rating in a report on Friday, August 3rd. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $36.67.

AJRD traded down $0.35 during trading on Friday, hitting $34.40. 25,870 shares of the company’s stock were exchanged, compared to its average volume of 435,382. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 2.64. Aerojet Rocketdyne has a fifty-two week low of $24.41 and a fifty-two week high of $37.70. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 46.66, a PEG ratio of 4.88 and a beta of 1.08.

In related news, Director Martin Turchin sold 5,000 shares of the stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $36.43, for a total transaction of $182,150.00. Following the completion of the transaction, the director now owns 90,650 shares in the company, valued at $3,302,379.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director James H. Perry sold 25,225 shares of the stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $34.33, for a total transaction of $865,974.25. Following the transaction, the director now owns 113,140 shares of the company’s stock, valued at approximately $3,884,096.20. The disclosure for this sale can be found here. Corporate insiders own 3.20% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Advisors Asset Management Inc. bought a new position in Aerojet Rocketdyne during the second quarter valued at about $278,000. Waddell & Reed Financial Inc. bought a new position in Aerojet Rocketdyne during the second quarter valued at about $7,081,000. Voya Investment Management LLC grew its position in Aerojet Rocketdyne by 93.8% during the second quarter. Voya Investment Management LLC now owns 57,985 shares of the aerospace company’s stock valued at $1,710,000 after buying an additional 28,069 shares during the period. Raymond James & Associates bought a new position in Aerojet Rocketdyne during the second quarter valued at about $592,000. Finally, OppenheimerFunds Inc. grew its position in Aerojet Rocketdyne by 17.3% during the second quarter. OppenheimerFunds Inc. now owns 50,451 shares of the aerospace company’s stock valued at $1,488,000 after buying an additional 7,445 shares during the period.

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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