Zacks: Brokerages Anticipate Aon plc (NYSE:AON) Will Announce Quarterly Sales of $2.58 Billion

Wall Street analysts expect Aon plc (NYSE:AON) to report $2.58 billion in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for AON’s earnings, with the lowest sales estimate coming in at $2.57 billion and the highest estimate coming in at $2.59 billion. AON posted sales of $2.39 billion in the same quarter last year, which would indicate a positive year over year growth rate of 7.9%. The company is scheduled to issue its next quarterly earnings report on Friday, October 29th.

According to Zacks, analysts expect that AON will report full-year sales of $12.17 billion for the current year, with estimates ranging from $12.15 billion to $12.20 billion. For the next fiscal year, analysts anticipate that the business will post sales of $12.82 billion, with estimates ranging from $12.71 billion to $12.88 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for AON.

AON (NYSE:AON) last announced its quarterly earnings results on Thursday, July 29th. The financial services provider reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.43. The company had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.69 billion. AON had a return on equity of 61.03% and a net margin of 17.78%. AON’s revenue was up 15.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.96 EPS.

Several brokerages recently issued reports on AON. Zacks Investment Research upgraded AON from a “hold” rating to a “buy” rating and set a $277.00 price objective for the company in a research report on Wednesday, August 4th. Raymond James upgraded AON from an “underperform” rating to a “market perform” rating and set a $265.75 price objective for the company in a research report on Wednesday, July 28th. Wolfe Research began coverage on AON in a research report on Monday, August 16th. They issued a “market perform” rating and a $292.00 price objective for the company. Wells Fargo & Company boosted their price objective on AON from $287.00 to $306.00 and gave the company an “overweight” rating in a research report on Monday, August 2nd. Finally, Morgan Stanley boosted their price objective on AON from $268.00 to $274.00 and gave the company an “equal weight” rating in a research report on Monday, August 16th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, AON currently has a consensus rating of “Hold” and an average target price of $268.06.

Shares of AON stock traded up $1.97 on Wednesday, reaching $293.66. The company had a trading volume of 1,717,597 shares, compared to its average volume of 1,840,693. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 1.59. The stock has a market cap of $66.29 billion, a PE ratio of 32.17 and a beta of 0.87. The company has a 50-day moving average of $265.14 and a 200-day moving average of $248.88. AON has a 12 month low of $179.52 and a 12 month high of $295.23.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 13th. Shareholders of record on Monday, August 2nd were paid a $0.51 dividend. The ex-dividend date was Friday, July 30th. This represents a $2.04 annualized dividend and a yield of 0.69%. AON’s payout ratio is currently 20.80%.

In related news, Director Lester B. Knight purchased 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 4th. The shares were acquired at an average price of $263.95 per share, for a total transaction of $2,639,500.00. Following the purchase, the director now owns 1,720 shares in the company, valued at $453,994. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director J Michael Losh sold 9,000 shares of the company’s stock in a transaction dated Tuesday, August 17th. The shares were sold at an average price of $279.62, for a total transaction of $2,516,580.00. Following the completion of the transaction, the director now owns 14,205 shares in the company, valued at approximately $3,972,002.10. The disclosure for this sale can be found here. 0.99% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp grew its stake in AON by 0.6% in the 2nd quarter. State Street Corp now owns 9,338,406 shares of the financial services provider’s stock valued at $2,229,639,000 after buying an additional 58,087 shares during the last quarter. Mawer Investment Management Ltd. boosted its holdings in AON by 3.7% in the 2nd quarter. Mawer Investment Management Ltd. now owns 6,050,712 shares of the financial services provider’s stock valued at $1,444,668,000 after purchasing an additional 213,878 shares during the period. Lazard Asset Management LLC boosted its holdings in AON by 1.7% in the 2nd quarter. Lazard Asset Management LLC now owns 6,039,821 shares of the financial services provider’s stock valued at $1,442,067,000 after purchasing an additional 100,230 shares during the period. Janus Henderson Group PLC boosted its holdings in AON by 8.3% in the 1st quarter. Janus Henderson Group PLC now owns 4,826,680 shares of the financial services provider’s stock valued at $1,110,654,000 after purchasing an additional 369,482 shares during the period. Finally, WCM Investment Management LLC boosted its holdings in AON by 1.4% in the 2nd quarter. WCM Investment Management LLC now owns 4,619,723 shares of the financial services provider’s stock valued at $1,103,005,000 after purchasing an additional 63,616 shares during the period.

About AON

Aon Plc operates as a global professional services firm. It provides advice and solutions to clients focused on risk, retirement, and health through the following products and services: Commercial Risk Solutions, Reinsurance Solutions, Retirement Solutions, Health Solutions, and Data and Analytic Services.

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