Atkore International Group Inc (NYSE:ATKR) Expected to Announce Earnings of $0.91 Per Share

Analysts forecast that Atkore International Group Inc (NYSE:ATKR) will report $0.91 earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have issued estimates for Atkore International Group’s earnings, with the lowest EPS estimate coming in at $0.85 and the highest estimate coming in at $0.96. Atkore International Group posted earnings of $0.79 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 15.2%. The business is scheduled to issue its next quarterly earnings report 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 year, with EPS estimates ranging from $3.33 to $3.57. For the next fiscal year, analysts forecast that the firm will post earnings of $3.63 per share, with EPS estimates ranging from $3.60 to $3.65. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that cover Atkore International Group.

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

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

NYSE ATKR traded down $0.25 during trading hours on Thursday, reaching $28.17. The company’s stock had a trading volume of 12,207 shares, compared to its average volume of 388,622. The company has a market cap of $1.33 billion, a PE ratio of 11.36 and a beta of 1.81. Atkore International Group has a fifty-two week low of $17.47 and a fifty-two week high of $30.27. The business’s 50-day moving average price is $26.55. The company has a debt-to-equity ratio of 4.37, a quick ratio of 1.73 and a current ratio of 2.57.

In other news, insider Peter J. Lariviere sold 9,640 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $24.66, for a total value of $237,722.40. Following the completion of the transaction, the insider now directly owns 122,082 shares of the company’s stock, valued at $3,010,542.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.03% of the company’s stock.

Several hedge funds have recently modified their holdings of ATKR. Schroder Investment Management Group lifted its holdings in shares of Atkore International Group by 538.7% during the second quarter. Schroder Investment Management Group now owns 58,451 shares of the company’s stock valued at $1,512,000 after purchasing an additional 49,300 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Atkore International Group during the second quarter valued at approximately $39,974,000. Victory Capital Management Inc. increased its position in shares of Atkore International Group by 1.0% during the second quarter. Victory Capital Management Inc. now owns 901,406 shares of the company’s stock valued at $23,319,000 after acquiring an additional 8,847 shares in the last quarter. Argent Capital Management LLC increased its position in shares of Atkore International Group by 22.5% during the second quarter. Argent Capital Management LLC now owns 166,680 shares of the company’s stock valued at $4,312,000 after acquiring an additional 30,585 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in shares of Atkore International Group by 112.6% during the second quarter. UBS Asset Management Americas Inc. now owns 42,728 shares of the company’s stock valued at $1,105,000 after acquiring an additional 22,628 shares in the last quarter. Institutional investors own 96.90% of the company’s stock.

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.

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