|Bid||23.77 x 1000|
|Ask||23.83 x 800|
|Day's Range||23.45 - 24.11|
|52 Week Range||16.01 - 38.00|
|Beta (5Y Monthly)||1.42|
|PE Ratio (TTM)||37.10|
|Earnings Date||Nov 24, 2020 - Nov 30, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Jul 16, 2020|
|1y Target Est||30.50|
Raven Industries (NASDAQ:RAVN) announced it is making key leadership changes as part of the Company’s continued strategy to drive greater growth.
When close to half the companies in the United States have price-to-earnings ratios (or "P/E's") below 17x, you may...
Raven Industries (NASDAQ:RAVN) debuts its autonomous platform, Dot®, for the first time today at Farm Progress Virtual Experience.
Potential Raven Industries, Inc. (NASDAQ:RAVN) shareholders may wish to note that the Independent Chairman of the...
Raven Industries announced today that it is Great Place to Work-Certified™, confirming at least 7/10 employees have a consistent positive experience.
Raven Industries (NASDAQ:RAVN) announced today the release of its Hawkeye® 2 Nozzle Control System, the most accurate nozzle control system in ag.
Shares in Raven Industries are tanking almost 8% in the pre-market session, after its board of directors indefinitely suspended the company’s regular quarterly cash dividend on its common stock. The stock is declining to $22.42 in Thursday’s pre-market trading. Raven (RAVN) said that the withdrawal will help the company save nearly $20 million in capital on an annual basis. The specialty industrial machinery company said it will use the funds to make investments in Raven Autonomy and Raven Composites. It will also provide the company with more flexibility to fund M&A and accelerated R&D investments.“The opportunity for significant long-term growth from these investments is substantial, and the company believes this to be the most appropriate use of capital to drive long-term growth in shareholder value,” the company said in a statement.Back in May, Raven’s board approved a regular quarterly cash dividend of 13 cents per share, which was payable July 31, to shareholders of record on July 17.“We are fully committed to boldly investing in the future of our company,” said Raven CEO Dan Rykhus. “This decision speaks greatly to the tremendous opportunities in front of us and is being taken from a position of strength, with utmost confidence in our future.”The news comes as Raven reported that consolidated sales in the second quarter ended July 31, dropped 13.1% to $85.2 million from the year-ago period, beating the Street consensus by $0.47 million. Net income for the quarter fell to $5.8 million from $8.8 million.Diluted earnings per share was $0.16 versus $0.24 per share, a year ago exceeding analysts’ estimates by $0.12. Raven added that its investment in Raven Autonomy reduced net income attributable to the company by $3.1 million, or $0.09 per diluted share, in the reported quarter. (See RAVN stock analysis on TipRanks)Following the news, Oppenheimer analyst Kristen Owen assigned a Buy rating on the stock with a price target of $27 (11% upside potential).“Results demonstrated RAVN's technology differentiation, as strength in new ATD [applied technologies] products and AERO [Aerostar] backlog conversion helped to offset COVID-related disruptions and significant declines in energy and construction films sales,” Owen wrote in a note to investors. “With its strongly signaled commitment to investing for growth, we will be looking for additional details on its technology integration, product roadmap, and commercialization milestones.”The rest of the Street is cautiously optimistic on the stock with a Moderate Buy analyst consensus. With shares down more than 29% so far this year, the $27 average price target, indicates 11% upside potential to current levels.Related News: Splunk Slips In Pre-Market As Revenue Outlook Disappoints; Street Stays Bullish NetApp Leaps 11% In After-Hours On Strong 1Q Results Nordstrom Drops 5% On Larger Quarterly Loss As Analyst Says Stock Valued More recent articles from Smarter Analyst: * Sanderson Farms Tops 3Q Sales Spurred By Retail Demand * Veoneer Spikes 17% On Driver Software Partnership With Qualcomm * Does Wall Street Prefer Medtronic Or Intuitive Surgical Amid The Covid Crisis? * Wedbush Hikes Apple’s PT To ‘Street High’ On iPhone Upgrade Potential
The Raven Industries (NASDAQ:RAVN) board of directors has indefinitely suspended the Company’s regular quarterly cash dividend on its common stock.
|Upgrade||National Securities: Neutral to Buy||3/25/2020|
|Upgrade||SunTrust Robinson Humphrey: Hold to Buy||1/31/2018|
|Downgrade||Dougherty: Buy to Neutral||12/5/2017|
|Upgrade||Dougherty: Neutral to Buy||2/17/2017|
|Downgrade||Dougherty: Buy to Neutral||3/11/2016|
|Initiated||Stephens & Co.: to Equal-Weight||2/20/2015|
Industry: Specialty Industrial Machinery
Full Time Employees: 1,362
Raven Industries, Inc., a technology company, provides various products to customers in the industrial, agricultural, geo-membrane, construction, aerospace/defense, and commercial lighter-than-air markets worldwide. It operates in three segments: Applied Technology, Engineered Films, and Aerostar. The Applied Technology segment designs, manufactures, sells, and services precision agriculture products and information management tools that enable farmers to enhance farm yields. Its products include application controls, GPS-guidance steering systems, field computers, automatic boom controls, machine automation, information management tools, and injection systems, as well as Slingshot, a communications platform for its ag retailers, custom applicators, and enterprise farms; and services comprise high-speed in-field Internet connectivity and cloud-based data management. This segment sells its products to original equipment manufacturers and through aftermarket distribution partners. The Engineered Films segment produces plastic films and sheeting for geo-membrane, agricultural, construction, and industrial applications; and offers design-build and installation services for plastic films and sheeting. This segment sells its products directly to end-customers and through independent third-party distributors. The Aerostar segment offers high-altitude stratospheric platforms, technical services, and radar systems to provide research, communications, and situational awareness capabilities to governmental and commercial customers in the aerospace and defense, and commercial lighter-than-air markets. Raven Industries, Inc. was founded in 1956 and is headquartered in Sioux Falls, South Dakota.