In its upcoming report, AeroVironment (AVAV) is predicted by Wall Street analysts to post quarterly earnings of $0.34 per share, reflecting a decline of 61.8% compared to the same period last year. Revenues are forecasted to be $453.5 million, representing a year-over-year increase of 139.3%.
Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Bearing this in mind, let's now explore the average estimates of specific AeroVironment metrics that are commonly monitored and projected by Wall Street analysts.
According to the collective judgment of analysts, 'Revenue- Contract Services' should come in at $100.37 million. The estimate suggests a change of +234.8% year over year.
It is projected by analysts that the 'Revenue- Product Sales' will reach $250.07 million. The estimate indicates a year-over-year change of +56.8%.
Based on the collective assessment of analysts, 'Gross margin- Contract services' should arrive at $25.08 million. Compared to the present estimate, the company reported $7.48 million in the same quarter last year.
The collective assessment of analysts points to an estimated 'Gross margin- Product sales' of $95.43 million. The estimate compares to the year-ago value of $73.99 million.
View all Key Company Metrics for AeroVironment here>>>
Shares of AeroVironment have experienced a change of -9.5% in the past month compared to the +3.6% move of the Zacks S&P 500 composite. With a Zacks Rank #1 (Strong Buy), AVAV is expected to outperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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AeroVironment, Inc. (AVAV): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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