AdvanSix Inc (ASIX) Expected to Post Earnings of $0.77 Per Share
Analysts expect AdvanSix Inc (NASDAQ:ASIX) to announce $0.77 earnings per share for the current quarter, according to Zacks. Zero analysts have issued estimates for AdvanSix’s earnings. AdvanSix posted earnings of $0.54 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 42.6%. The company is scheduled to issue its next earnings report before the market opens on Tuesday, November 7th.
According to Zacks, analysts expect that AdvanSix will report full-year earnings of $3.13 per share for the current financial year. For the next fiscal year, analysts expect that the company will report earnings of $3.52 per share. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover AdvanSix.
AdvanSix (NASDAQ:ASIX) last announced its quarterly earnings data on Thursday, August 10th. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.17. The firm had revenue of $361.44 million during the quarter. AdvanSix had a net margin of 7.13% and a return on equity of 40.03%.
Several brokerages have recently issued reports on ASIX. BidaskClub upgraded shares of AdvanSix from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 23rd. Zacks Investment Research upgraded shares of AdvanSix from a “hold” rating to a “strong-buy” rating and set a $39.00 price objective on the stock in a research note on Tuesday, September 12th. Finally, Cowen and Company boosted their price target on shares of AdvanSix from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 6th.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new position in AdvanSix during the 2nd quarter valued at about $100,000. Pacad Investment Ltd. grew its stake in AdvanSix by 16.7% during the 2nd quarter. Pacad Investment Ltd. now owns 3,500 shares of the company’s stock valued at $109,000 after acquiring an additional 500 shares in the last quarter. Pinebridge Investments L.P. grew its stake in AdvanSix by 13.6% during the 2nd quarter. Pinebridge Investments L.P. now owns 4,509 shares of the company’s stock valued at $141,000 after acquiring an additional 539 shares in the last quarter. Quantbot Technologies LP grew its stake in AdvanSix by 772.8% during the 2nd quarter. Quantbot Technologies LP now owns 4,783 shares of the company’s stock valued at $149,000 after acquiring an additional 4,235 shares in the last quarter. Finally, Private Advisor Group LLC purchased a new position in AdvanSix during the 2nd quarter valued at about $227,000.
Shares of AdvanSix (NASDAQ ASIX) traded down 0.09% on Friday, hitting $44.05. 295,577 shares of the stock traded hands. AdvanSix has a 12-month low of $14.65 and a 12-month high of $45.54. The firm’s 50-day moving average is $40.50 and its 200 day moving average is $40.50. The firm has a market cap of $1.34 billion and a P/E ratio of 30.25.
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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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