AdvanSix Inc (ASIX) Expected to Post Earnings of $0.67 Per Share
Wall Street brokerages expect AdvanSix Inc (NASDAQ:ASIX) to announce earnings of $0.67 per share for the current quarter, according to Zacks. Zero analysts have made estimates for AdvanSix’s earnings. AdvanSix posted earnings of $0.54 per share during the same quarter last year, which indicates a positive year over year growth rate of 24.1%. The business is scheduled to issue its next earnings report on Thursday, November 9th.
According to Zacks, 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 business will post earnings of $3.08 per share. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that that provide coverage for AdvanSix.
AdvanSix (NASDAQ:ASIX) last issued its quarterly earnings results on Thursday, August 10th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.17. AdvanSix had a net margin of 7.13% and a return on equity of 40.03%. The business had revenue of $361.44 million for the quarter.
A number of research analysts have recently commented on ASIX shares. Cowen and Company started coverage on shares of AdvanSix in a report on Friday, June 23rd. They issued an “outperform” rating and a $37.00 target price 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 on the stock in a research note on Tuesday, September 12th. Finally, BidaskClub raised shares of AdvanSix from a “hold” rating to a “buy” rating in a report on Friday, September 15th.
Shares of AdvanSix (NASDAQ ASIX) opened at 41.23 on Wednesday. The firm has a market cap of $1.26 billion and a PE ratio of 28.32. AdvanSix has a 52-week low of $13.70 and a 52-week high of $41.46. The firm has a 50-day moving average of $37.98 and a 200 day moving average of $37.98.
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Several hedge funds and other institutional investors have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd acquired a new position in shares of AdvanSix during the second quarter worth $661,000. WINTON GROUP Ltd lifted its stake in shares of AdvanSix by 43.7% in the 2nd quarter. WINTON GROUP Ltd now owns 50,267 shares of the company’s stock valued at $1,570,000 after acquiring an additional 15,281 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of AdvanSix by 1,967.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,324 shares of the company’s stock valued at $729,000 after acquiring an additional 22,196 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in shares of AdvanSix by 34.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 10,657 shares of the company’s stock valued at $333,000 after acquiring an additional 2,760 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of AdvanSix by 41.2% in the 2nd quarter. State Street Corp now owns 717,873 shares of the company’s stock valued at $22,427,000 after acquiring an additional 209,636 shares during the last quarter.
AdvanSix Company Profile
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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