Air Industries (AIRI) closed at $3.44 in the latest trading session, marking a -1.71% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 0.06% for the day. Meanwhile, the Dow experienced a rise of 0.41%, and the technology-dominated Nasdaq saw a decrease of 0.39%.
Prior to today's trading, shares of the maker of parts for the aerospace industry and defense contractors had gained 4.17% lagged the Aerospace sector's gain of 5.95% and the S&P 500's gain of 5.88%.
The investment community will be closely monitoring the performance of Air Industries in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be -$0.15, reflecting a 266.67% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $12 million, down 11.57% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.45 per share and a revenue of $53.39 million, representing changes of -9.76% and -3.12%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Air Industries. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Air Industries is holding a Zacks Rank of #5 (Strong Sell) right now.
The Aerospace - Defense industry is part of the Aerospace sector. Currently, this industry holds a Zacks Industry Rank of 158, positioning it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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Air Industries Group (AIRI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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