Universal Stainless & Alloy Products (NASDAQ:USAP) Expected to Earn Q2 2019 Earnings of $0.28 Per Share

Universal Stainless & Alloy Products (NASDAQ:USAP) – Investment analysts at KeyCorp cut their Q2 2019 earnings estimates for Universal Stainless & Alloy Products in a report issued on Wednesday, July 10th. KeyCorp analyst P. Gibbs now expects that the basic materials company will post earnings of $0.28 per share for the quarter, down from their previous forecast of $0.30. KeyCorp also issued estimates for Universal Stainless & Alloy Products’ Q3 2019 earnings at $0.29 EPS, Q4 2019 earnings at $0.29 EPS and FY2019 earnings at $1.00 EPS.

Several other equities analysts have also weighed in on USAP. Zacks Investment Research upgraded shares of Vistra Energy from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Saturday. ValuEngine lowered shares of Yirendai from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 26th.

Shares of NASDAQ USAP opened at $15.51 on Friday. The firm’s 50-day moving average is $14.26. Universal Stainless & Alloy Products has a 1-year low of $12.53 and a 1-year high of $30.91. The firm has a market capitalization of $136.02 million, a price-to-earnings ratio of 12.71 and a beta of 1.57. The company has a quick ratio of 0.81, a current ratio of 3.73 and a debt-to-equity ratio of 0.26.

Universal Stainless & Alloy Products (NASDAQ:USAP) last announced its quarterly earnings data on Wednesday, April 24th. The basic materials company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.10). Universal Stainless & Alloy Products had a net margin of 3.87% and a return on equity of 3.93%. The company had revenue of $60.27 million for the quarter, compared to analyst estimates of $65.41 million.

Several hedge funds and other institutional investors have recently made changes to their positions in USAP. Rhumbline Advisers acquired a new position in shares of Universal Stainless & Alloy Products during the fourth quarter valued at about $186,000. BlackRock Inc. raised its holdings in shares of Universal Stainless & Alloy Products by 20.3% in the 4th quarter. BlackRock Inc. now owns 578,544 shares of the basic materials company’s stock worth $9,378,000 after acquiring an additional 97,483 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Universal Stainless & Alloy Products by 24.3% in the 4th quarter. Bank of New York Mellon Corp now owns 49,447 shares of the basic materials company’s stock worth $801,000 after acquiring an additional 9,680 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Universal Stainless & Alloy Products by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 729,467 shares of the basic materials company’s stock worth $11,825,000 after acquiring an additional 5,312 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Universal Stainless & Alloy Products by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 90,491 shares of the basic materials company’s stock worth $1,466,000 after acquiring an additional 3,807 shares during the last quarter. Hedge funds and other institutional investors own 86.35% of the company’s stock.

Universal Stainless & Alloy Products Company Profile

Universal Stainless & Alloy Products, Inc, together with its subsidiaries, manufactures and markets semi-finished and finished specialty steel products in the United States and internationally. The company's products include stainless steel, nickel alloys, tool steel, and various other alloyed steels.

Featured Story: What are the advantages to having securities held in street name?

Receive News & Ratings for Universal Stainless & Alloy Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Stainless & Alloy Products and related companies with MarketBeat.com's FREE daily email newsletter.