AeroVironment (NASDAQ:AVAV) Updates FY 2023 Earnings Guidance

AeroVironment (NASDAQ:AVAV – Get Rating) issued an update on its FY 2023 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.35-$1.65 for the period, compared to the consensus earnings per share estimate of $1.75. The company issued revenue guidance of $490.00 million-$520.00 million, compared to the consensus revenue estimate of $513.98 million.

AVAV opened at $83.08 on Wednesday. The business’s fifty day moving average is $85.00 and its two-hundred day moving average is $78.20. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.74 and a current ratio of 3.64. The company has a market cap of $2.07 billion, a price-to-earnings ratio of -461.53 and a beta of 0.50. AeroVironment has a one year low of $52.03 and a one year high of $114.11.

AeroVironment (NASDAQ:AVAV – Get Rating) last posted its earnings results on Tuesday, June 28th. The aerospace company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.11). AeroVironment had a positive return on equity of 5.11% and a negative net margin of 0.94%. The firm had revenue of $132.62 million for the quarter, compared to analysts’ expectations of $134.16 million. During the same quarter in the previous year, the firm posted $1.04 earnings per share. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. On average, analysts predict that AeroVironment will post 1.42 EPS for the current fiscal year.

Several equities analysts recently weighed in on the company. Robert W. Baird downgraded AeroVironment from an outperform rating to a neutral rating and set a $95.00 target price on the stock. in a research report on Friday, April 22nd. Royal Bank of Canada upgraded AeroVironment from a sector perform rating to an outperform rating and upped their price target for the stock from $95.00 to $100.00 in a research note on Wednesday, May 18th. Canaccord Genuity Group upped their price target on AeroVironment from $85.00 to $90.00 and gave the stock a buy rating in a research note on Wednesday, June 29th. StockNews.com initiated coverage on AeroVironment in a research note on Thursday, March 31st. They set a sell rating for the company. Finally, Canaccord Genuity Group upped their price target on AeroVironment from $85.00 to $90.00 and gave the stock a buy rating in a research note on Wednesday, June 29th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $91.00.

A number of institutional investors have recently modified their holdings of AVAV. Lazard Asset Management LLC purchased a new position in AeroVironment during the 1st quarter valued at about $47,000. Royal Bank of Canada lifted its holdings in AeroVironment by 82.3% in the 1st quarter. Royal Bank of Canada now owns 2,678 shares of the aerospace company’s stock worth $252,000 after purchasing an additional 1,209 shares during the last quarter. Captrust Financial Advisors lifted its holdings in AeroVironment by 37.8% in the 1st quarter. Captrust Financial Advisors now owns 2,751 shares of the aerospace company’s stock worth $259,000 after purchasing an additional 754 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in AeroVironment in the 1st quarter worth approximately $331,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of AeroVironment by 54.1% during the first quarter. PNC Financial Services Group Inc. now owns 3,679 shares of the aerospace company’s stock worth $348,000 after buying an additional 1,291 shares during the last quarter. Hedge funds and other institutional investors own 85.48% of the company’s stock.

AeroVironment Company Profile (Get Rating)

AeroVironment, Inc designs, develops, produces, delivers, and supports a portfolio of robotic systems and related services for government agencies and businesses. It operates in two segments, Unmanned Aircraft Systems (UAS) and Medium Unmanned Aircraft Systems (MUAS). The company supplies UAS, tactical missile systems, and related services primarily to organizations within the U.S.

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