Aerojet Rocketdyne Holdings, Inc. to Post Q2 2022 Earnings of $0.48 Per Share, Jefferies Financial Group Forecasts (NYSE:AJRD)

Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRDGet Rating) – Equities research analysts at Jefferies Financial Group lowered their Q2 2022 earnings estimates for Aerojet Rocketdyne in a report issued on Wednesday, May 4th. Jefferies Financial Group analyst G. Konrad now expects that the aerospace company will post earnings per share of $0.48 for the quarter, down from their previous estimate of $0.52. Jefferies Financial Group currently has a “Buy” rating and a $47.00 target price on the stock. Jefferies Financial Group also issued estimates for Aerojet Rocketdyne’s Q3 2022 earnings at $0.52 EPS, Q4 2022 earnings at $0.60 EPS, FY2022 earnings at $2.03 EPS and FY2024 earnings at $2.37 EPS.

Several other equities research analysts have also issued reports on AJRD. JPMorgan Chase & Co. upgraded shares of Aerojet Rocketdyne from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $40.00 to $49.00 in a research report on Thursday, April 7th. Truist Financial decreased their price target on shares of Aerojet Rocketdyne from $51.00 to $36.00 in a research note on Thursday, February 24th. Finally, StockNews.com assumed coverage on shares of Aerojet Rocketdyne in a research note on Thursday, March 31st. They issued a “buy” rating on the stock.

AJRD stock opened at $40.71 on Friday. The firm has a 50 day moving average of $40.15 and a 200-day moving average of $41.70. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.55. Aerojet Rocketdyne has a 12 month low of $35.47 and a 12 month high of $49.84. The firm has a market capitalization of $3.28 billion, a P/E ratio of 22.01 and a beta of 0.48.

Aerojet Rocketdyne (NYSE:AJRDGet Rating) last issued its earnings results on Tuesday, May 3rd. The aerospace company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. The firm had revenue of $511.10 million during the quarter, compared to analyst estimates of $525.20 million. Aerojet Rocketdyne had a net margin of 6.96% and a return on equity of 39.90%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business earned $0.36 earnings per share.

A number of large investors have recently added to or reduced their stakes in AJRD. Reinhart Partners Inc. bought a new stake in Aerojet Rocketdyne in the first quarter valued at $55,105,000. Segantii Capital Management Ltd boosted its holdings in shares of Aerojet Rocketdyne by 812.8% during the 4th quarter. Segantii Capital Management Ltd now owns 932,104 shares of the aerospace company’s stock valued at $43,585,000 after buying an additional 829,984 shares in the last quarter. Sand Grove Capital Management LLP boosted its holdings in shares of Aerojet Rocketdyne by 427.9% during the 4th quarter. Sand Grove Capital Management LLP now owns 548,707 shares of the aerospace company’s stock valued at $25,658,000 after buying an additional 444,759 shares in the last quarter. Voya Investment Management LLC boosted its holdings in shares of Aerojet Rocketdyne by 1,514.8% during the 3rd quarter. Voya Investment Management LLC now owns 474,044 shares of the aerospace company’s stock valued at $20,644,000 after buying an additional 444,688 shares in the last quarter. Finally, Versor Investments LP boosted its holdings in shares of Aerojet Rocketdyne by 37.7% during the 4th quarter. Versor Investments LP now owns 1,396,184 shares of the aerospace company’s stock valued at $65,286,000 after buying an additional 382,237 shares in the last quarter. Institutional investors and hedge funds own 96.67% of the company’s stock.

About Aerojet Rocketdyne (Get Rating)

Aerojet Rocketdyne Holdings, Inc designs, develops, manufactures, and sells aerospace and defense products and systems in the United States. It operates in two segments, Aerospace and Defense, and Real Estate. The Aerospace and Defense segment offers aerospace and defense products and systems for the United States government, including the Department of Defense, the National Aeronautics and Space Administration, and aerospace and defense prime contractors.

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