Atkore (ATKR) Expected to Announce Quarterly Earnings on Tuesday

Atkore (NYSE:ATKR) is expected to announce its earnings results before the market opens on Tuesday, February 4th. Analysts expect the company to announce earnings of $1.58 per share and revenue of $680,770.67 billion for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Atkore (NYSE:ATKR) last posted its quarterly earnings results on Thursday, November 21st. The company reported $2.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.08 by ($0.06). Atkore had a return on equity of 32.14% and a net margin of 14.77%. The company had revenue of $788.30 million for the quarter, compared to the consensus estimate of $749.49 million. During the same quarter in the previous year, the business earned $3.63 earnings per share. Atkore’s revenue was down 9.4% compared to the same quarter last year. On average, analysts expect Atkore to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Atkore Stock Performance

Shares of ATKR stock opened at $82.64 on Tuesday. The company has a market capitalization of $2.87 billion, a P/E ratio of 6.54 and a beta of 2.13. Atkore has a fifty-two week low of $76.01 and a fifty-two week high of $194.98. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.96 and a current ratio of 2.98. The stock has a 50 day moving average price of $86.53 and a two-hundred day moving average price of $94.74.

Atkore Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, December 6th were given a dividend of $0.32 per share. The ex-dividend date was Friday, December 6th. This represents a $1.28 annualized dividend and a yield of 1.55%. Atkore’s payout ratio is currently 10.13%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Loop Capital lowered their price objective on shares of Atkore from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $102.00 price target (up previously from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. Roth Mkm assumed coverage on Atkore in a research report on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price objective on the stock. B. Riley downgraded Atkore from a “buy” rating to a “neutral” rating and decreased their target price for the company from $135.00 to $84.00 in a report on Friday, November 22nd. Finally, Roth Capital upgraded shares of Atkore to a “strong-buy” rating in a report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $115.67.

Insider Buying and Selling at Atkore

In other news, Director Jeri L. Isbell sold 3,353 shares of Atkore stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $94.03, for a total transaction of $315,282.59. Following the completion of the transaction, the director now directly owns 25,585 shares in the company, valued at approximately $2,405,757.55. This trade represents a 11.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Daniel S. Kelly sold 13,071 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $95.74, for a total value of $1,251,417.54. Following the completion of the sale, the vice president now owns 27,528 shares in the company, valued at $2,635,530.72. The trade was a 32.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,924 shares of company stock valued at $1,614,975. 1.99% of the stock is currently owned by company insiders.

About Atkore

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.