In the latest close session, Air Industries (AIRI) was down 1.77% at $3.33. This change lagged the S&P 500's daily gain of 0.78%. Meanwhile, the Dow gained 0.47%, and the Nasdaq, a tech-heavy index, added 0.98%.
Heading into today, shares of the maker of parts for the aerospace industry and defense contractors had lost 10.32% over the past month, lagging the Aerospace sector's gain of 4.18% and the S&P 500's gain of 1.86%.
Investors will be eagerly watching for the performance of Air Industries in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$0.15, marking a 266.67% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $12 million, indicating a 11.57% downward movement from the same quarter last year.
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.
Investors should also pay attention to any latest changes in analyst estimates for Air Industries. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Air Industries is currently a Zacks Rank #4 (Sell).
The Aerospace - Defense industry is part of the Aerospace sector. With its current Zacks Industry Rank of 38, this industry ranks in the top 16% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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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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