Yahoo Finance AeroVironment (AVAV) Stock Drops Despite Market Gains: Important Facts to Note
AeroVironment (AVAV) closed the most recent trading day at $215.51, moving -0.95% from the previous trading session. This change lagged the S&P 500's daily gain of 0.23%. Meanwhile, the Dow experienced a drop of 0.17%, and the technology-dominated Nasdaq saw an increase of 0.34%.
Shares of the maker of unmanned aircrafts witnessed a gain of 12.71% over the previous month, beating the performance of the Aerospace sector with its loss of 0.46% and the S&P 500's gain of 3.96%.
The investment community will be closely monitoring the performance of AeroVironment in its forthcoming earnings report. The company is expected to report EPS of $0.21, down 78.79% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $187.79 million, up 0.94% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for AeroVironment. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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 exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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, there's been no change in the Zacks Consensus EPS estimate. AeroVironment is currently a Zacks Rank #3 (Hold).
With respect to valuation, AeroVironment is currently being traded at a Forward P/E ratio of 63.62. This denotes a premium relative to the industry's average Forward P/E of 28.29.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. With its current Zacks Industry Rank of 52, this industry ranks in the top 21% of all industries, numbering over 250.
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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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AeroVironment, Inc. (AVAV) : Free Stock Analysis Report
