Raven Industries, Inc. (NASDAQ:RAVN) – Equities researchers at SunTrust Banks cut their Q3 2018 earnings estimates for Raven Industries in a research note issued to investors on Friday. SunTrust Banks analyst J. Freuchtel now expects that the conglomerate will earn $0.21 per share for the quarter, down from their previous estimate of $0.24. SunTrust Banks currently has a “Hold” rating and a $36.00 price target on the stock. SunTrust Banks also issued estimates for Raven Industries’ Q4 2018 earnings at $0.20 EPS, FY2018 earnings at $0.97 EPS, Q1 2019 earnings at $0.40 EPS, Q2 2019 earnings at $0.32 EPS, Q3 2019 earnings at $0.29 EPS and FY2019 earnings at $1.21 EPS.
Raven Industries (NASDAQ:RAVN) last issued its quarterly earnings results on Wednesday, August 23rd. The conglomerate reported $0.23 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.23. Raven Industries had a return on equity of 11.67% and a net margin of 9.57%. The company had revenue of $86.61 million for the quarter, compared to analyst estimates of $81.48 million.
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RAVN has been the subject of a number of other research reports. BidaskClub lowered shares of Raven Industries from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 16th. Piper Jaffray Companies set a $33.00 target price on shares of Raven Industries and gave the company a “hold” rating in a research note on Thursday, July 27th. Finally, Dougherty & Co reissued a “buy” rating on shares of Raven Industries in a research note on Friday, August 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. Raven Industries has a consensus rating of “Hold” and a consensus target price of $33.50.
Shares of Raven Industries (NASDAQ RAVN) traded down 0.60% on Monday, hitting $33.40. The company’s stock had a trading volume of 18,007 shares. The stock’s 50 day moving average is $30.47 and its 200-day moving average is $32.16. Raven Industries has a 52 week low of $20.21 and a 52 week high of $37.40. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 39.71 and a beta of 1.46.
Several large investors have recently modified their holdings of the business. Stifel Financial Corp boosted its stake in shares of Raven Industries by 0.3% during the 2nd quarter. Stifel Financial Corp now owns 29,837 shares of the conglomerate’s stock valued at $993,000 after buying an additional 103 shares during the period. Arizona State Retirement System lifted its stake in shares of Raven Industries by 1.1% in the 1st quarter. Arizona State Retirement System now owns 18,800 shares of the conglomerate’s stock valued at $546,000 after purchasing an additional 200 shares during the last quarter. Texas Permanent School Fund lifted its stake in shares of Raven Industries by 0.9% in the 2nd quarter. Texas Permanent School Fund now owns 26,350 shares of the conglomerate’s stock valued at $877,000 after purchasing an additional 231 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in shares of Raven Industries by 8.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,174 shares of the conglomerate’s stock valued at $106,000 after purchasing an additional 257 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan lifted its stake in shares of Raven Industries by 4.8% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 8,520 shares of the conglomerate’s stock valued at $284,000 after purchasing an additional 390 shares during the last quarter. 73.05% of the stock is owned by institutional investors.
In related news, Director Marc E. Lebaron bought 1,457 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was bought at an average price of $27.55 per share, with a total value of $40,140.35. Following the purchase, the director now directly owns 3,457 shares of the company’s stock, valued at approximately $95,240.35. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.80% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 13th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Thursday, October 12th. Raven Industries’s dividend payout ratio (DPR) is currently 61.18%.
Raven Industries Company Profile
Raven Industries, Inc is a diversified technology company providing a range of products to customers within the industrial, agricultural, energy, construction and defense markets. The Company operates through three segments: Applied Technology Division (Applied Technology), Engineered Films Division (Engineered Films) and Aerostar Division (Aerostar).
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