StandardAero (NYSE:SARO) Issues Earnings Results, Misses Estimates By $0.20 EPS

StandardAero (NYSE:SARO) posted its quarterly earnings results on Monday. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.20), Briefing.com reports. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.37 billion. The firm’s quarterly revenue was up 21.8% on a year-over-year basis.

StandardAero Stock Performance

StandardAero stock traded down $0.61 during midday trading on Monday, hitting $26.25. 1,971,079 shares of the company were exchanged, compared to its average volume of 1,677,535. StandardAero has a fifty-two week low of $22.50 and a fifty-two week high of $34.38. The stock has a fifty day simple moving average of $25.93.

Wall Street Analysts Forecast Growth

Separately, Bank of America reduced their price objective on StandardAero from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.67.

About StandardAero

StandardAero, Inc provides aerospace engine aftermarket services for fixed and rotary wing aircraft in the United States, Canada, the United Kingdom, Rest of Europe, Asia, and internationally. It operates in two segments, Engine Services and Component Repair Services. The Engine Services segment provides a suite of aftermarket services, including maintenance, repair and overhaul, on-wing and field service support, asset management, and engineering and related solutions to customers in the commercial aerospace, military and helicopter, and business aviation end markets.