In the latest trading session, Air Industries (AIRI) closed at $3.22, marking a -1.53% move from the previous day. This change lagged the S&P 500's 0.17% gain on the day. Meanwhile, the Dow lost 0.48%, and the Nasdaq, a tech-heavy index, added 0.46%.
The maker of parts for the aerospace industry and defense contractors's shares have seen an increase of 4.81% over the last month, surpassing the Aerospace sector's gain of 1.35% and the S&P 500's gain of 2.38%.
The upcoming earnings release of Air Industries will be of great interest to investors. The company's upcoming EPS is projected at -$0.22, signifying a 83.33% drop compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $10 million, indicating a 20.38% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.61 per share and revenue of $48.29 million, which would represent changes of -48.78% and -12.37%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Air Industries. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Right now, Air Industries possesses a Zacks Rank of #4 (Sell).
The Aerospace - Defense industry is part of the Aerospace sector. Currently, this industry holds a Zacks Industry Rank of 155, positioning it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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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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