AdvanSix Inc (ASIX) Expected to Post Earnings of $0.67 Per Share
Equities research analysts predict that AdvanSix Inc (NASDAQ:ASIX) will post earnings of $0.67 per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for AdvanSix’s earnings. AdvanSix posted earnings per share of $0.54 in the same quarter last year, which would suggest a positive year over year growth rate of 24.1%. The company is scheduled to announce its next earnings results on Thursday, November 9th.
On average, analysts expect that AdvanSix will report full year earnings of $2.95 per share for the current financial year. For the next year, analysts expect that the company will post earnings of $3.08 per share. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that cover AdvanSix.
AdvanSix (NASDAQ:ASIX) last issued its earnings results on Thursday, August 10th. The company reported $0.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.17. The firm had revenue of $361.44 million for the quarter. AdvanSix had a return on equity of 40.03% and a net margin of 7.13%.
ASIX has been the subject of a number of recent analyst reports. Cowen and Company initiated coverage on shares of AdvanSix in a research report on Friday, June 23rd. They set an “outperform” rating and a $37.00 price target for the company. Zacks Investment Research upgraded shares of AdvanSix from a “hold” rating to a “strong-buy” rating and set a $39.00 price target for the company in a research report on Tuesday. Finally, BidaskClub upgraded shares of AdvanSix from a “hold” rating to a “buy” rating in a research report on Friday.
Shares of AdvanSix (NASDAQ:ASIX) traded up 1.11% during midday trading on Friday, hitting $36.59. The company’s stock had a trading volume of 145,963 shares. The firm has a market cap of $1.12 billion and a P/E ratio of 25.13. AdvanSix has a 52-week low of $13.70 and a 52-week high of $36.59. The stock’s 50 day moving average is $34.85 and its 200-day moving average is $30.99.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in AdvanSix in the second quarter worth $100,000. Pacad Investment Ltd. grew its position in AdvanSix by 16.7% in the second quarter. Pacad Investment Ltd. now owns 3,500 shares of the company’s stock worth $109,000 after acquiring an additional 500 shares in the last quarter. Pinebridge Investments L.P. grew its position in AdvanSix by 13.6% in the second quarter. Pinebridge Investments L.P. now owns 4,509 shares of the company’s stock worth $141,000 after acquiring an additional 539 shares in the last quarter. Quantbot Technologies LP grew its position in AdvanSix by 772.8% in the second quarter. Quantbot Technologies LP now owns 4,783 shares of the company’s stock worth $149,000 after acquiring an additional 4,235 shares in the last quarter. Finally, Private Advisor Group LLC purchased a new position in AdvanSix in the second quarter worth $227,000.
AdvanSix Inc is an integrated manufacturer of Nylon 6. The Company also sells a variety of other products, all of which are produced as part of the Nylon 6 resin manufacturing process primarily, including caprolactam, ammonium sulfate fertilizers and other chemical intermediates. The Company operates primarily through its integrated manufacturing sites located in Frankford, Pennsylvania, Hopewell, Virginia, and Chesterfield, Virginia.
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