Aerojet Rocketdyne Holdings Inc (NYSE:AJRD) – Investment analysts at Jefferies Financial Group boosted their Q2 2019 earnings per share estimates for shares of Aerojet Rocketdyne in a note issued to investors on Tuesday, April 30th, Zacks Investment Research reports. Jefferies Financial Group analyst G. Konrad now forecasts that the aerospace company will earn $0.40 per share for the quarter, up from their previous forecast of $0.33. Jefferies Financial Group also issued estimates for Aerojet Rocketdyne’s Q3 2019 earnings at $0.40 EPS and Q4 2019 earnings at $0.43 EPS.
Aerojet Rocketdyne (NYSE:AJRD) last issued its earnings results on Tuesday, April 30th. The aerospace company reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.17. Aerojet Rocketdyne had a return on equity of 34.95% and a net margin of 8.55%. The business had revenue of $491.70 million during the quarter, compared to analysts’ expectations of $478.20 million. During the same period in the prior year, the business earned $0.18 EPS. The business’s revenue for the quarter was down .1% compared to the same quarter last year.
Shares of AJRD stock traded down $0.46 during mid-day trading on Thursday, hitting $36.42. The stock had a trading volume of 473,400 shares, compared to its average volume of 894,779. Aerojet Rocketdyne has a 12-month low of $27.69 and a 12-month high of $40.99. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 18.87, a P/E/G ratio of 3.96 and a beta of 0.68. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.79.
In related news, CEO Eileen P. Drake sold 29,592 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $34.42, for a total transaction of $1,018,556.64. Following the completion of the sale, the chief executive officer now directly owns 382,236 shares in the company, valued at approximately $13,156,563.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.00% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Manchester Capital Management LLC purchased a new stake in Aerojet Rocketdyne in the first quarter valued at about $36,000. Nikko Asset Management Americas Inc. raised its stake in Aerojet Rocketdyne by 145.6% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 1,039 shares of the aerospace company’s stock valued at $37,000 after buying an additional 616 shares during the last quarter. Pearl River Capital LLC purchased a new stake in Aerojet Rocketdyne in the first quarter valued at about $64,000. Osborn Williams & Donohoe LLC purchased a new stake in Aerojet Rocketdyne in the first quarter valued at about $82,000. Finally, IFP Advisors Inc raised its stake in Aerojet Rocketdyne by 29.2% in the fourth quarter. IFP Advisors Inc now owns 3,332 shares of the aerospace company’s stock valued at $116,000 after buying an additional 753 shares during the last quarter.
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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