Zacks: Brokerages Expect Atkore International Group Inc (ATKR) Will Announce Earnings of $0.42 Per Share
Wall Street analysts expect Atkore International Group Inc (NASDAQ:ATKR) to report earnings per share (EPS) of $0.42 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Atkore International Group’s earnings. Atkore International Group posted earnings per share of $0.37 in the same quarter last year, which would indicate a positive year over year growth rate of 13.5%. The company is scheduled to report its next quarterly earnings results on Tuesday, August 1st.
According to Zacks, analysts expect that Atkore International Group will report full year earnings of $1.50 per share for the current year. For the next fiscal year, analysts anticipate that the firm will report earnings of $1.69 per share. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that follow Atkore International Group.
Atkore International Group (NASDAQ:ATKR) last posted its quarterly earnings results on Tuesday, May 9th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by $0.08. The business had revenue of $372.79 million for the quarter, compared to the consensus estimate of $363.74 million. Atkore International Group had a return on equity of 25.87% and a net margin of 5.08%. Atkore International Group’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.31 earnings per share.
Several equities analysts have recently issued reports on the company. Royal Bank Of Canada reissued a “buy” rating and set a $31.00 target price on shares of Atkore International Group in a research note on Tuesday, April 11th. Zacks Investment Research cut Atkore International Group from a “buy” rating to a “hold” rating in a research note on Tuesday, May 2nd.
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Atkore International Group (ATKR) traded up 0.66% during trading on Thursday, hitting $22.79. The company’s stock had a trading volume of 266,177 shares. The firm has a 50 day moving average of $21.97 and a 200 day moving average of $24.47. The firm has a market cap of $1.45 billion and a P/E ratio of 20.20. Atkore International Group has a 12 month low of $14.17 and a 12 month high of $27.30.
In related news, insider John Patrick Williamson sold 47,578 shares of the company’s stock in a transaction on Friday, April 28th. The stock was sold at an average price of $26.26, for a total value of $1,249,398.28. Following the sale, the insider now directly owns 179,655 shares of the company’s stock, valued at $4,717,740.30. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP James A. Mallak sold 38,380 shares of the company’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $26.04, for a total value of $999,415.20. Following the completion of the sale, the vice president now directly owns 76,350 shares in the company, valued at $1,988,154. The disclosure for this sale can be found here. Insiders have sold 310,683 shares of company stock worth $7,803,338 over the last three months.
A number of large investors have recently modified their holdings of ATKR. State Street Corp boosted its stake in shares of Atkore International Group by 50.5% in the fourth quarter. State Street Corp now owns 180,942 shares of the company’s stock valued at $4,326,000 after buying an additional 60,733 shares during the last quarter. A.R.T. Advisors LLC purchased a new stake in shares of Atkore International Group during the fourth quarter valued at $339,000. Two Sigma Investments LP purchased a new stake in shares of Atkore International Group during the fourth quarter valued at $3,043,000. Tudor Investment Corp Et Al purchased a new stake in shares of Atkore International Group during the fourth quarter valued at $454,000. Finally, Metropolitan Life Insurance Co. NY purchased a new stake in shares of Atkore International Group during the fourth quarter valued at $224,000.
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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