Atkore (ATKR) Projected to Post Earnings on Tuesday

Atkore (NYSE:ATKR) will likely be releasing its earnings data before the market opens on Tuesday, February 4th. Analysts expect Atkore to post earnings of $1.58 per share and revenue of $680.77 million for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Atkore (NYSE:ATKR) last released its quarterly earnings data on Thursday, November 21st. The company reported $2.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.06). The firm had revenue of $788.30 million during the quarter, compared to analysts’ expectations of $749.49 million. Atkore had a net margin of 14.77% and a return on equity of 32.14%. Atkore’s revenue was down 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.63 EPS. 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

Atkore stock opened at $81.45 on Friday. The company has a current ratio of 2.98, a quick ratio of 1.96 and a debt-to-equity ratio of 0.50. The firm has a market cap of $2.83 billion, a P/E ratio of 6.45 and a beta of 2.13. Atkore has a 1-year low of $76.01 and a 1-year high of $194.98. The firm has a 50-day moving average of $86.07 and a 200-day moving average of $92.87.

Atkore Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Tuesday, February 18th. Atkore’s dividend payout ratio (DPR) is currently 10.13%.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ATKR. Roth Mkm initiated coverage on Atkore in a report on Tuesday, December 17th. They set a “buy” rating and a $100.00 target price for the company. Royal Bank of Canada reiterated 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. B. Riley downgraded shares of Atkore from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $135.00 to $84.00 in a research note on Friday, November 22nd. Roth Capital raised Atkore to a “strong-buy” rating in a research report on Monday, December 16th. Finally, Loop Capital decreased their target price on Atkore from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $115.67.

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.