Q3 2018 EPS Estimates for Universal Stainless & Alloy Products Raised by KeyCorp (USAP)

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Universal Stainless & Alloy Products (NASDAQ:USAP) – Stock analysts at KeyCorp increased their Q3 2018 earnings per share estimates for shares of Universal Stainless & Alloy Products in a research report issued to clients and investors on Monday, September 3rd. KeyCorp analyst P. Gibbs now forecasts that the basic materials company will post earnings of $0.54 per share for the quarter, up from their prior estimate of $0.48. KeyCorp also issued estimates for Universal Stainless & Alloy Products’ FY2018 earnings at $1.68 EPS and FY2019 earnings at $1.83 EPS.

Universal Stainless & Alloy Products (NASDAQ:USAP) last posted its quarterly earnings results on Wednesday, July 25th. The basic materials company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.41 by $0.09. The company had revenue of $66.07 million during the quarter. Universal Stainless & Alloy Products had a return on equity of 2.92% and a net margin of 6.43%.

Several other equities analysts have also weighed in on the company. Cowen assumed coverage on Universal Stainless & Alloy Products in a research note on Tuesday, August 14th. They issued an “outperform” rating and a $33.00 price objective on the stock. BidaskClub lowered Universal Stainless & Alloy Products from a “buy” rating to a “hold” rating in a research note on Saturday, August 11th. Zacks Investment Research raised Universal Stainless & Alloy Products from a “hold” rating to a “strong-buy” rating and set a $30.00 price objective on the stock in a research note on Wednesday, July 25th. Finally, ValuEngine raised Universal Stainless & Alloy Products from a “hold” rating to a “buy” rating in a research note on Thursday, July 19th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $31.50.

NASDAQ USAP opened at $29.91 on Wednesday. The stock has a market capitalization of $263.11 million, a PE ratio of 40.92 and a beta of 1.30. Universal Stainless & Alloy Products has a 1-year low of $17.44 and a 1-year high of $31.20. The company has a current ratio of 3.33, a quick ratio of 0.81 and a debt-to-equity ratio of 0.22.

In other news, Director M. David Kornblatt sold 2,500 shares of Universal Stainless & Alloy Products stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $29.44, for a total value of $73,600.00. Following the transaction, the director now directly owns 23,655 shares of the company’s stock, valued at approximately $696,403.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 10.30% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its stake in shares of Universal Stainless & Alloy Products by 72.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 37,062 shares of the basic materials company’s stock valued at $877,000 after purchasing an additional 15,520 shares in the last quarter. Bank of America Corp DE lifted its position in Universal Stainless & Alloy Products by 1,218.4% during the 2nd quarter. Bank of America Corp DE now owns 22,782 shares of the basic materials company’s stock worth $539,000 after acquiring an additional 21,054 shares in the last quarter. Intrinsic Edge Capital Management LLC lifted its position in Universal Stainless & Alloy Products by 19.2% during the 2nd quarter. Intrinsic Edge Capital Management LLC now owns 155,195 shares of the basic materials company’s stock worth $3,673,000 after acquiring an additional 25,000 shares in the last quarter. Van ECK Associates Corp acquired a new position in Universal Stainless & Alloy Products during the 2nd quarter worth approximately $202,000. Finally, Renaissance Technologies LLC lifted its position in Universal Stainless & Alloy Products by 23.3% during the 2nd quarter. Renaissance Technologies LLC now owns 215,300 shares of the basic materials company’s stock worth $5,096,000 after acquiring an additional 40,700 shares in the last quarter. 91.17% of the stock is currently owned by institutional investors and hedge funds.

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.

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Earnings History and Estimates for Universal Stainless & Alloy Products (NASDAQ:USAP)

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