Atkore (ATKR) to Release Quarterly Earnings on Tuesday

Atkore (NYSE:ATKR) is scheduled to issue its quarterly earnings data before the market opens on Tuesday, May 7th. Analysts expect the company to announce earnings of $3.22 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Atkore (NYSE:ATKR) last announced its quarterly earnings results on Thursday, February 1st. The company reported $4.12 earnings per share for the quarter, topping analysts’ consensus estimates of $3.08 by $1.04. The firm had revenue of $798.50 million for the quarter, compared to the consensus estimate of $777.05 million. Atkore had a return on equity of 46.79% and a net margin of 18.80%. The business’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.51 earnings per share. On average, analysts expect Atkore to post $15 EPS for the current fiscal year and $16 EPS for the next fiscal year.

Atkore Trading Up 0.6 %

Shares of ATKR stock opened at $176.25 on Friday. The company has a market capitalization of $6.48 billion, a PE ratio of 10.57 and a beta of 2.19. The company has a quick ratio of 1.99, a current ratio of 2.96 and a debt-to-equity ratio of 0.51. Atkore has a 12-month low of $116.14 and a 12-month high of $194.98. The firm has a 50 day moving average price of $176.60 and a two-hundred day moving average price of $154.71.

Atkore Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Tuesday, May 21st will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.73%. The ex-dividend date is Monday, May 20th. Atkore’s dividend payout ratio (DPR) is currently 7.67%.

Insider Buying and Selling

In related news, insider John W. Pregenzer sold 6,548 shares of Atkore stock in a transaction on Monday, February 26th. The shares were sold at an average price of $158.49, for a total value of $1,037,792.52. Following the transaction, the insider now directly owns 30,430 shares of the company’s stock, valued at $4,822,850.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Atkore news, CEO William E. Jr. Waltz sold 43,072 shares of Atkore stock in a transaction on Monday, February 26th. The stock was sold at an average price of $160.48, for a total value of $6,912,194.56. Following the completion of the sale, the chief executive officer now owns 83,716 shares of the company’s stock, valued at approximately $13,434,743.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John W. Pregenzer sold 6,548 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $158.49, for a total value of $1,037,792.52. Following the transaction, the insider now directly owns 30,430 shares in the company, valued at $4,822,850.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 148,464 shares of company stock worth $25,124,751. Corporate insiders own 2.56% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on ATKR shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $187.00 target price on shares of Atkore in a research report on Friday, March 22nd. StockNews.com upgraded Atkore from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Finally, Citigroup raised their price objective on Atkore from $176.00 to $200.00 and gave the company a “neutral” rating in a research note on Monday, April 8th.

About Atkore

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.