Haynes International, Inc. (HAYN) Expected to Announce Quarterly Sales of $98.80 Million
Brokerages expect Haynes International, Inc. (NASDAQ:HAYN) to announce sales of $98.80 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Haynes International’s earnings, with the lowest sales estimate coming in at $98.70 million and the highest estimate coming in at $98.90 million. Haynes International posted sales of $107.52 million in the same quarter last year, which would indicate a negative year over year growth rate of 8.1%. The company is scheduled to issue its next quarterly earnings results on Thursday, November 16th.
According to Zacks, analysts expect that Haynes International will report full-year sales of $98.80 million for the current fiscal year, with estimates ranging from $393.10 million to $393.34 million. For the next financial year, analysts forecast that the business will report sales of $429.30 million per share, with estimates ranging from $427.50 million to $431.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Haynes International.
Haynes International (NASDAQ:HAYN) last released its quarterly earnings results on Thursday, August 3rd. The basic materials company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). The company had revenue of $97.98 million during the quarter, compared to analysts’ expectations of $97.54 million. Haynes International had a negative net margin of 0.84% and a negative return on equity of 1.59%. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 earnings per share.
A number of research analysts have issued reports on the company. Zacks Investment Research cut Haynes International from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 11th. ValuEngine cut Haynes International from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Finally, J P Morgan Chase & Co reiterated a “neutral” rating and set a $26.00 price objective (down previously from $33.50) on shares of Haynes International in a research note on Saturday, July 22nd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company’s stock. Haynes International has a consensus rating of “Hold” and an average price target of $36.50.
Shares of Haynes International (HAYN) opened at 36.39 on Friday. The stock’s market capitalization is $451.24 million. The company has a 50-day moving average price of $34.41 and a 200-day moving average price of $35.16. Haynes International has a 52-week low of $28.97 and a 52-week high of $48.37.
Hedge funds have recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan raised its stake in shares of Haynes International by 4.6% in the second quarter. Municipal Employees Retirement System of Michigan now owns 2,950 shares of the basic materials company’s stock worth $107,000 after purchasing an additional 130 shares during the last quarter. Mason Street Advisors LLC raised its stake in shares of Haynes International by 7.1% in the first quarter. Mason Street Advisors LLC now owns 2,925 shares of the basic materials company’s stock worth $112,000 after purchasing an additional 195 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Haynes International in the second quarter worth $140,000. BNP Paribas Arbitrage SA raised its stake in shares of Haynes International by 50.2% in the second quarter. BNP Paribas Arbitrage SA now owns 4,098 shares of the basic materials company’s stock worth $149,000 after purchasing an additional 1,370 shares during the last quarter. Finally, Karp Capital Management Corp purchased a new position in shares of Haynes International in the first quarter worth $229,000. Hedge funds and other institutional investors own 98.64% of the company’s stock.
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About Haynes International
Haynes International, Inc (Haynes) is a producer of nickel- and cobalt-based alloys in flat product forms, such as sheet, coil and plate forms. The Company also produces its products as seamless and welded tubulars, and in slab, bar, billet and wire forms. It focuses on developing, manufacturing, marketing and distributing alloys, which are sold in the aerospace, chemical processing and industrial gas turbine industries.
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