Brokerages Expect Atkore International Group Inc (NYSE:ATKR) Will Announce Earnings of $0.91 Per Share

Wall Street brokerages forecast that Atkore International Group Inc (NYSE:ATKR) will report $0.91 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Atkore International Group’s earnings, with the highest EPS estimate coming in at $0.96 and the lowest estimate coming in at $0.85. Atkore International Group posted earnings of $0.79 per share in the same quarter last year, which would suggest a positive year over year growth rate of 15.2%. The company is scheduled to report its next quarterly earnings results on Wednesday, November 27th.

On average, analysts expect that Atkore International Group will report full year earnings of $3.45 per share for the current financial year, with EPS estimates ranging from $3.33 to $3.57. For the next financial year, analysts forecast that the firm will report earnings of $3.63 per share, with EPS estimates ranging from $3.60 to $3.65. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Atkore International Group.

Atkore International Group (NYSE:ATKR) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.81 by $0.23. The firm had revenue of $493.49 million during the quarter, compared to analyst estimates of $528.63 million. Atkore International Group had a return on equity of 82.84% and a net margin of 6.65%. Atkore International Group’s revenue was down .9% on a year-over-year basis. During the same period in the prior year, the business posted $0.86 EPS.

Several research analysts recently weighed in on ATKR shares. TheStreet raised shares of Atkore International Group from a “c” rating to a “b-” rating in a report on Thursday, May 23rd. Zacks Investment Research downgraded shares of Atkore International Group from a “buy” rating to a “hold” rating in a report on Monday, July 22nd. Four research analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and an average price target of $27.25.

Shares of NYSE:ATKR traded down $0.25 during midday trading on Thursday, hitting $28.17. The company had a trading volume of 12,207 shares, compared to its average volume of 388,622. The firm has a market cap of $1.33 billion, a P/E ratio of 11.36 and a beta of 1.81. The company has a debt-to-equity ratio of 4.37, a quick ratio of 1.73 and a current ratio of 2.57. The business has a fifty day simple moving average of $26.55. Atkore International Group has a 12-month low of $17.47 and a 12-month high of $30.27.

In related news, insider Peter J. Lariviere sold 9,640 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $24.66, for a total value of $237,722.40. Following the sale, the insider now directly owns 122,082 shares of the company’s stock, valued at approximately $3,010,542.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.03% of the company’s stock.

A number of institutional investors have recently bought and sold shares of ATKR. Walthausen & Co. LLC boosted its stake in shares of Atkore International Group by 1.3% during the first quarter. Walthausen & Co. LLC now owns 236,487 shares of the company’s stock valued at $5,092,000 after purchasing an additional 3,120 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Atkore International Group in the 1st quarter valued at approximately $531,000. 361 Capital LLC raised its stake in shares of Atkore International Group by 9.6% in the 1st quarter. 361 Capital LLC now owns 147,177 shares of the company’s stock valued at $3,169,000 after acquiring an additional 12,914 shares during the period. Principal Financial Group Inc. raised its stake in shares of Atkore International Group by 188.5% in the 4th quarter. Principal Financial Group Inc. now owns 22,745 shares of the company’s stock valued at $451,000 after acquiring an additional 14,861 shares during the period. Finally, Norges Bank purchased a new stake in shares of Atkore International Group in the 4th quarter valued at approximately $2,074,000. 96.90% of the stock is currently owned by institutional investors.

About Atkore International Group

Atkore International Group Inc manufactures and distributes electrical raceway products, and mechanical products and solutions (MP&S) in the United States and internationally. The company offers electrical raceway products, including electrical conduits and fittings, armored cables and fittings, and cable trays and mounting systems and fittings.

Further Reading: Do equity income investments outperform growth and income investments?

Get a free copy of the Zacks research report on Atkore International Group (ATKR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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