Haynes International, Inc. to Post Q3 2024 Earnings of $0.80 Per Share, Noble Financial Forecasts (NASDAQ:HAYN)

Haynes International, Inc. (NASDAQ:HAYN) – Noble Financial reduced their Q3 2024 EPS estimates for Haynes International in a research note issued on Monday, July 1st. Noble Financial analyst M. Reichman now forecasts that the basic materials company will post earnings per share of $0.80 for the quarter, down from their prior estimate of $0.82. The consensus estimate for Haynes International’s current full-year earnings is $3.07 per share. Noble Financial also issued estimates for Haynes International’s Q4 2024 earnings at $0.94 EPS, FY2024 earnings at $3.00 EPS and FY2025 earnings at $4.15 EPS.

Haynes International (NASDAQ:HAYN) last issued its quarterly earnings results on Thursday, May 9th. The basic materials company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.20). The company had revenue of $152.46 million during the quarter, compared to the consensus estimate of $160.52 million. Haynes International had a return on equity of 8.79% and a net margin of 6.31%.

Other analysts also recently issued reports about the company. Northcoast Research restated a “neutral” rating on shares of Haynes International in a report on Thursday, March 14th. StockNews.com initiated coverage on Haynes International in a report on Sunday. They issued a “hold” rating for the company.

Haynes International Stock Up 0.4 %

NASDAQ:HAYN opened at $58.90 on Tuesday. Haynes International has a twelve month low of $41.15 and a twelve month high of $60.86. The company has a market cap of $752.74 million, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 0.91 and a beta of 1.40. The stock has a fifty day simple moving average of $59.00 and a 200-day simple moving average of $58.38. The company has a current ratio of 7.63, a quick ratio of 1.75 and a debt-to-equity ratio of 0.25.

Institutional Investors Weigh In On Haynes International

A number of large investors have recently bought and sold shares of the company. New York State Teachers Retirement System boosted its position in Haynes International by 2.4% in the fourth quarter. New York State Teachers Retirement System now owns 26,061 shares of the basic materials company’s stock valued at $1,487,000 after buying an additional 600 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Haynes International in the first quarter valued at approximately $114,000. BNP Paribas Financial Markets boosted its position in Haynes International by 67.1% in the first quarter. BNP Paribas Financial Markets now owns 6,233 shares of the basic materials company’s stock valued at $375,000 after buying an additional 2,504 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Haynes International by 16.9% in the first quarter. Russell Investments Group Ltd. now owns 31,845 shares of the basic materials company’s stock valued at $1,915,000 after acquiring an additional 4,605 shares during the period. Finally, GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in Haynes International in the first quarter valued at approximately $7,070,000. Hedge funds and other institutional investors own 97.31% of the company’s stock.

Haynes International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a dividend of $0.22 per share. The ex-dividend date was Friday, May 31st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.49%. Haynes International’s payout ratio is 29.73%.

About Haynes International

Haynes International, Inc develops, manufactures, markets, and distributes nickel and cobalt-based alloys in sheet, coil, and plate forms in the United States, Europe, China, and internationally. The company offers high-temperature resistant alloys used by manufacturers of equipment, including jet engines for the aerospace market, gas turbine engines for power generation, and industrial heating equipment.