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Why Air Industries (AIRI) Dipped More Than Broader Market Today
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In the latest close session, Air Industries (AIRI - Free Report) was down 1.24% at $3.18. The stock's performance was behind the S&P 500's daily loss of 0.53%. Elsewhere, the Dow lost 0.71%, while the tech-heavy Nasdaq lost 0.93%.
Shares of the maker of parts for the aerospace industry and defense contractors have appreciated by 3.87% over the course of the past month, outperforming the Aerospace sector's gain of 2.66%, and the S&P 500's gain of 1.13%.
Market participants will be closely following the financial results of Air Industries in its upcoming release. The company's earnings per share (EPS) are projected to be -$0.22, reflecting a 83.33% decrease from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $10 million, indicating a 20.38% decline compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.61 per share and revenue of $48.29 million, indicating changes of -48.78% and -12.37%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Air Industries should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. As of now, Air Industries holds a Zacks Rank of #4 (Sell).
The Aerospace - Defense industry is part of the Aerospace sector. Currently, this industry holds a Zacks Industry Rank of 162, positioning it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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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Why Air Industries (AIRI) Dipped More Than Broader Market Today
In the latest close session, Air Industries (AIRI - Free Report) was down 1.24% at $3.18. The stock's performance was behind the S&P 500's daily loss of 0.53%. Elsewhere, the Dow lost 0.71%, while the tech-heavy Nasdaq lost 0.93%.
Shares of the maker of parts for the aerospace industry and defense contractors have appreciated by 3.87% over the course of the past month, outperforming the Aerospace sector's gain of 2.66%, and the S&P 500's gain of 1.13%.
Market participants will be closely following the financial results of Air Industries in its upcoming release. The company's earnings per share (EPS) are projected to be -$0.22, reflecting a 83.33% decrease from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $10 million, indicating a 20.38% decline compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.61 per share and revenue of $48.29 million, indicating changes of -48.78% and -12.37%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Air Industries should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. As of now, Air Industries holds a Zacks Rank of #4 (Sell).
The Aerospace - Defense industry is part of the Aerospace sector. Currently, this industry holds a Zacks Industry Rank of 162, positioning it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.