Zacks: Brokerages Anticipate Atkore International Group Inc (ATKR) to Announce $0.36 Earnings Per Share
Wall Street brokerages predict that Atkore International Group Inc (NASDAQ:ATKR) will post $0.36 earnings per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Atkore International Group’s earnings, with the highest EPS estimate coming in at $0.38 and the lowest estimate coming in at $0.34. Atkore International Group posted earnings of $0.35 per share in the same quarter last year, which indicates a positive year over year growth rate of 2.9%. The firm is expected to announce its next earnings report on Tuesday, December 5th.
On average, analysts expect that Atkore International Group will report full year earnings of $1.43 per share for the current fiscal year, with EPS estimates ranging from $1.41 to $1.45. For the next year, analysts anticipate that the company will report earnings of $1.57 per share, with EPS estimates ranging from $1.52 to $1.60. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Atkore International Group.
Atkore International Group (NASDAQ:ATKR) last issued its earnings results on Tuesday, August 8th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. The firm had revenue of $397.70 million during the quarter, compared to the consensus estimate of $424.49 million. Atkore International Group had a net margin of 6.91% and a return on equity of 33.89%. The company’s revenue was up .5% on a year-over-year basis.
A number of research firms recently weighed in on ATKR. Royal Bank Of Canada reaffirmed a “buy” rating and set a $20.00 price target on shares of Atkore International Group in a report on Wednesday, August 9th. Zacks Investment Research lowered shares of Atkore International Group from a “hold” rating to a “strong sell” rating in a report on Friday, August 11th. Citigroup Inc. reaffirmed a “buy” rating and set a $22.00 price target (down from $28.00) on shares of Atkore International Group in a report on Thursday, August 10th. BidaskClub raised shares of Atkore International Group from a “hold” rating to a “buy” rating in a report on Saturday, October 21st. Finally, Credit Suisse Group raised shares of Atkore International Group from a “neutral” rating to an “outperform” rating and set a $22.00 price target for the company in a report on Wednesday, August 9th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Atkore International Group presently has a consensus rating of “Buy” and a consensus price target of $22.25.
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In other Atkore International Group news, CEO John Patrick Williamson sold 13,536 shares of the firm’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $20.00, for a total transaction of $270,720.00. Following the completion of the transaction, the chief executive officer now directly owns 179,091 shares of the company’s stock, valued at approximately $3,581,820. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO James A. Mallak sold 21,867 shares of the firm’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $20.00, for a total transaction of $437,340.00. Following the transaction, the chief financial officer now directly owns 93,855 shares of the company’s stock, valued at $1,877,100. The disclosure for this sale can be found here. Over the last three months, insiders have sold 169,367 shares of company stock valued at $3,387,340.
A number of hedge funds have recently made changes to their positions in the business. First Trust Advisors LP grew its holdings in Atkore International Group by 15.0% during the 3rd quarter. First Trust Advisors LP now owns 274,520 shares of the company’s stock worth $5,356,000 after acquiring an additional 35,868 shares in the last quarter. Nationwide Fund Advisors grew its holdings in Atkore International Group by 49.4% during the 3rd quarter. Nationwide Fund Advisors now owns 67,678 shares of the company’s stock worth $1,320,000 after acquiring an additional 22,392 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in Atkore International Group during the 3rd quarter worth $388,000. Lord Abbett & CO. LLC grew its holdings in Atkore International Group by 9.8% during the 2nd quarter. Lord Abbett & CO. LLC now owns 1,152,519 shares of the company’s stock worth $25,989,000 after acquiring an additional 102,399 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its holdings in Atkore International Group by 12.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 87,013 shares of the company’s stock worth $1,962,000 after acquiring an additional 9,329 shares in the last quarter.
Shares of Atkore International Group (NASDAQ:ATKR) traded up 0.73% during trading on Tuesday, hitting $19.40. 120,880 shares of the company were exchanged. Atkore International Group has a 12 month low of $15.05 and a 12 month high of $27.30. The stock has a market cap of $1.24 billion and a P/E ratio of 16.01. The company’s 50-day moving average price is $19.21 and its 200 day moving average price is $19.16.
About Atkore International Group
Atkore International Group Inc is a manufacturer of electrical raceway products. The Company’s products are primarily offered for non-residential construction and renovation markets, and mechanical products and solutions (MP&S) for the construction and industrial markets. The Company operates in two segments: Electrical Raceway and MP&S.
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