Haynes International Inc. (HAYN) Issues Quarterly Earnings Results, Misses Expectations By $0.20 EPS
Haynes International Inc. (NASDAQ:HAYN) posted its quarterly earnings data on Thursday. The company reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by $0.20. The business had revenue of $107.50 million for the quarter, compared to the consensus estimate of $109.67 million. Haynes International had a net margin of 1.84% and a return on equity of 1.99%. Haynes International’s quarterly revenue was down 8.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.46 EPS.
Shares of Haynes International (NASDAQ:HAYN) opened at 36.88 on Friday. The company has a market cap of $456.21 million, a price-to-earnings ratio of 60.16 and a beta of 1.53. Haynes International has a 52 week low of $25.53 and a 52 week high of $43.22. The firm’s 50-day moving average price is $35.60 and its 200 day moving average price is $34.79.
Several equities research analysts recently issued reports on HAYN shares. Zacks Investment Research lowered Haynes International from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 5th. Rosenblatt Securities lowered Haynes International from a “buy” rating to a “neutral” rating and set a $39.00 price objective for the company. in a research note on Monday, August 29th. Finally, JPMorgan Chase & Co. lowered Haynes International from an “overweight” rating to a “neutral” rating in a research note on Wednesday.
Large investors have recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan raised its stake in Haynes International by 1.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 2,770 shares of the company’s stock valued at $103,000 after buying an additional 50 shares during the period. BNP Paribas Arbitrage SA raised its stake in Haynes International by 120.5% in the second quarter. BNP Paribas Arbitrage SA now owns 4,573 shares of the company’s stock valued at $147,000 after buying an additional 2,499 shares during the period. Louisiana State Employees Retirement System bought a new stake in Haynes International during the third quarter valued at approximately $204,000. Morgan Stanley raised its stake in Haynes International by 835.2% in the third quarter. Morgan Stanley now owns 5,611 shares of the company’s stock valued at $208,000 after buying an additional 5,011 shares during the period. Finally, 1492 Capital Management LLC bought a new stake in Haynes International during the third quarter valued at approximately $217,000.
Haynes International Company Profile
Haynes International, Inc produces nickel- and cobalt-based alloys in flat product forms, such as sheet, coil and plate forms. The Company operates through the segment of design, manufacture, marketing and distribution of technologically advanced, high-performance alloys for use in the aerospace, land-based gas turbine, chemical processing and other industries.
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