Atkore (NYSE:ATKR) Announces Quarterly Earnings Results, Beats Expectations By $0.86 EPS

Atkore (NYSE:ATKR) released its earnings results on Monday. The company reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.86, Briefing.com reports. The business had revenue of $792.90 million for the quarter, compared to analyst estimates of $808.22 million. Atkore had a return on equity of 46.79% and a net margin of 18.80%. Atkore’s revenue was down 11.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.31 earnings per share.

Atkore Trading Up 1.9 %

Shares of NYSE:ATKR opened at $160.66 on Thursday. The company has a market capitalization of $5.91 billion, a P/E ratio of 9.45 and a beta of 2.19. Atkore has a 1 year low of $116.14 and a 1 year high of $194.98. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.96 and a quick ratio of 1.99. The business’s 50 day simple moving average is $176.60 and its 200 day simple moving average is $155.43.

Atkore Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Tuesday, May 21st will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, May 20th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.80%. Atkore’s dividend payout ratio (DPR) is currently 7.67%.

Insider Buying and Selling

In related news, VP Daniel S. Kelly sold 8,685 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $173.07, for a total transaction of $1,503,112.95. Following the sale, the vice president now owns 34,907 shares of the company’s stock, valued at $6,041,354.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Atkore news, VP Leangela W. Lowe sold 6,500 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $176.07, for a total value of $1,144,455.00. Following the sale, the vice president now owns 25,590 shares of the company’s stock, valued at approximately $4,505,631.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Daniel S. Kelly sold 8,685 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $173.07, for a total value of $1,503,112.95. Following the completion of the sale, the vice president now directly owns 34,907 shares in the company, valued at approximately $6,041,354.49. The disclosure for this sale can be found here. Insiders have sold 148,464 shares of company stock valued at $25,124,751 over the last 90 days. 2.56% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on ATKR. Citigroup dropped their price objective on Atkore from $200.00 to $188.00 and set a “neutral” rating on the stock in a research note on Wednesday. StockNews.com lowered Atkore from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $187.00 target price on shares of Atkore in a research note on Friday, March 22nd.

Atkore Company Profile

Atkore Inc engages in the manufacture and sale of electrical, mechanical, safety, and infrastructure products and solutions in the United States and internationally. The company offers conduits, cables, and installation accessories. It also designs and manufactures protection and reliability solutions for critical infrastructure, such as metal framing, mechanical pipe, perimeter security, and cable management.