CPI Aerostructures (CVU) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

CPI Aerostructures (NYSEAMERICAN:CVU) announced its earnings results on Thursday. The aerospace company reported $0.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.02, MarketWatch Earnings reports. The firm had revenue of $19.95 million during the quarter, compared to analysts’ expectations of $20.25 million. CPI Aerostructures updated its FY 2018 guidance to EPS.

CVU traded down $0.08 during trading on Friday, hitting $7.63. 9,577 shares of the company traded hands, compared to its average volume of 33,945. CPI Aerostructures has a one year low of $6.38 and a one year high of $11.75.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Ariel Investments LLC grew its position in CPI Aerostructures by 11.4% during the second quarter. Ariel Investments LLC now owns 776,157 shares of the aerospace company’s stock valued at $8,150,000 after buying an additional 79,454 shares during the period. Dimensional Fund Advisors LP grew its position in CPI Aerostructures by 5.2% during the second quarter. Dimensional Fund Advisors LP now owns 535,386 shares of the aerospace company’s stock valued at $5,622,000 after buying an additional 26,630 shares during the period. Russell Investments Group Ltd. grew its position in CPI Aerostructures by 8.5% during the second quarter. Russell Investments Group Ltd. now owns 136,234 shares of the aerospace company’s stock valued at $1,429,000 after buying an additional 10,686 shares during the period. Wedge Capital Management L L P NC bought a new position in CPI Aerostructures during the second quarter valued at about $414,000. Finally, Acadian Asset Management LLC bought a new position in CPI Aerostructures during the second quarter valued at about $124,000.

CVU has been the subject of several research reports. Canaccord Genuity restated a “buy” rating and set a $12.00 price target on shares of CPI Aerostructures in a research report on Wednesday, August 8th. Zacks Investment Research upgraded shares of CPI Aerostructures from a “sell” rating to a “hold” rating in a research report on Thursday, September 13th. Finally, Noble Financial upgraded shares of CPI Aerostructures from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research report on Thursday, August 9th.

ILLEGAL ACTIVITY WARNING: “CPI Aerostructures (CVU) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS” was reported by WKRB News and is the property of of WKRB News. If you are reading this news story on another website, it was copied illegally and republished in violation of U.S. and international copyright law. The original version of this news story can be accessed at https://www.wkrb13.com/2018/11/09/cpi-aerostructures-cvu-posts-quarterly-earnings-results-beats-expectations-by-0-02-eps.html.

About CPI Aerostructures

CPI Aerostructures, Inc engages in the contract production of structural aircraft parts for fixed wing aircraft and helicopters in the commercial and defense markets. It also offers aero systems, such as reconnaissance pod structures and fuel panel systems; and supplies parts for maintenance, repair, and overhaul (MRO), as well as kitting contracts.

Recommended Story: Float

Earnings History for CPI Aerostructures (NYSEAMERICAN:CVU)

Receive News & Ratings for CPI Aerostructures Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CPI Aerostructures and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply