Air Industries (AIRI) closed the most recent trading day at $3.27, moving -2.1% from the previous trading session. This change lagged the S&P 500's 0.83% gain on the day. Elsewhere, the Dow saw an upswing of 0.77%, while the tech-heavy Nasdaq appreciated by 1.02%.
Prior to today's trading, shares of the maker of parts for the aerospace industry and defense contractors had lost 2.91% lagged the Aerospace sector's gain of 2.79% and the S&P 500's gain of 4.99%.
The investment community will be paying close attention to the earnings performance of Air Industries in its upcoming release. On that day, Air Industries is projected to report earnings of -$0.15 per share, which would represent a year-over-year decline of 266.67%. Meanwhile, our latest consensus estimate is calling for revenue of $12 million, down 11.57% from the prior-year quarter.
AIRI's full-year Zacks Consensus Estimates are calling for earnings of -$0.45 per share and revenue of $53.39 million. These results would represent year-over-year changes of -9.76% and -3.12%, respectively.
Any recent changes to analyst estimates for Air Industries should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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 past month, the Zacks Consensus EPS estimate remained stagnant. Air Industries is currently a Zacks Rank #5 (Strong Sell).
The Aerospace - Defense industry is part of the Aerospace sector. Currently, this industry holds a Zacks Industry Rank of 65, positioning it in the top 27% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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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