AeroVironment (AVAV) closed at $183.48 in the latest trading session, marking a -1.44% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.01%. Elsewhere, the Dow saw a downswing of 0.22%, while the tech-heavy Nasdaq appreciated by 0.32%.
Coming into today, shares of the maker of unmanned aircrafts had gained 17.45% in the past month. In that same time, the Aerospace sector gained 9.52%, while the S&P 500 gained 5.2%.
Investors will be eagerly watching for the performance of AeroVironment in its upcoming earnings disclosure. On that day, AeroVironment is projected to report earnings of $1.44 per share, which would represent year-over-year growth of 234.88%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $243.67 million, up 23.7% from the year-ago period.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for AeroVironment. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 6.63% decrease. As of now, AeroVironment holds a Zacks Rank of #3 (Hold).
Looking at valuation, AeroVironment is presently trading at a Forward P/E ratio of 45.08. This represents a premium compared to its industry's average Forward P/E of 36.11.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 34, putting it in the top 14% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. 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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AeroVironment, Inc. (AVAV): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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