In the latest market close, Air Industries (AIRI) reached $3.55, with a -1.11% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.58%. On the other hand, the Dow registered a gain of 0.62%, and the technology-centric Nasdaq increased by 1.07%.
Shares of the maker of parts for the aerospace industry and defense contractors witnessed a gain of 8.79% over the previous month, trailing the performance of the Aerospace sector with its gain of 17.11% and the S&P 500's gain of 11.33%.
The investment community will be paying close attention to the earnings performance of Air Industries in its upcoming release. The company's earnings per share (EPS) are projected to be -$0.04, reflecting an 80.95% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $14 million, indicating a 0.43% decline compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.23 per share and a revenue of $57.05 million, indicating changes of +43.9% and +3.52%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Air Industries. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 228.57% downward. Air Industries is holding a Zacks Rank of #5 (Strong Sell) right now.
The Aerospace - Defense industry is part of the Aerospace sector. This industry, currently bearing a Zacks Industry Rank of 91, finds itself in the top 37% echelons 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.
You can find more information on all of these metrics, and much 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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