Haynes International, Inc. (NASDAQ:HAYN) – Investment analysts at KeyCorp cut their FY2019 earnings per share (EPS) estimates for shares of Haynes International in a research note issued on Monday, September 3rd. KeyCorp analyst P. Gibbs now anticipates that the basic materials company will post earnings of $1.66 per share for the year, down from their previous estimate of $1.85.
Haynes International (NASDAQ:HAYN) last announced its earnings results on Thursday, August 2nd. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.17). The business had revenue of $113.11 million for the quarter, compared to analyst estimates of $113.57 million. Haynes International had a negative return on equity of 2.54% and a negative net margin of 6.66%. The business’s revenue was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.32) EPS.
HAYN has been the subject of a number of other research reports. BidaskClub upgraded shares of Haynes International from a “strong sell” rating to a “sell” rating in a research report on Friday, August 24th. ValuEngine upgraded shares of Haynes International from a “hold” rating to a “buy” rating in a research report on Friday, May 18th. Finally, Zacks Investment Research cut shares of Haynes International from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 10th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. Haynes International currently has an average rating of “Hold” and a consensus target price of $44.00.
Shares of HAYN opened at $36.59 on Wednesday. The company has a quick ratio of 1.47, a current ratio of 5.89 and a debt-to-equity ratio of 0.03. The stock has a market cap of $492.86 million, a price-to-earnings ratio of -46.91 and a beta of 1.44. Haynes International has a 12-month low of $29.82 and a 12-month high of $45.14.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Piedmont Investment Advisors LLC acquired a new position in shares of Haynes International in the second quarter valued at approximately $107,000. Barclays PLC raised its position in shares of Haynes International by 76.7% in the first quarter. Barclays PLC now owns 3,860 shares of the basic materials company’s stock valued at $144,000 after buying an additional 1,676 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Haynes International in the second quarter valued at approximately $179,000. KBC Group NV acquired a new position in shares of Haynes International in the first quarter valued at approximately $189,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Haynes International in the first quarter valued at approximately $244,000. Institutional investors own 99.77% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Thursday, August 30th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date is Wednesday, August 29th. Haynes International’s payout ratio is currently -112.82%.
Haynes International Company Profile
Haynes International, Inc develops, manufactures, markets, and distributes nickel and cobalt-based alloys in sheet, coil, and plate forms in the United States, Europe, Asia, and internationally. The company offers high-temperature resistant alloys (HTA) and corrosion-resistant alloys (CRA). Its HTA products are used by manufacturers of equipment, including jet engines for the aerospace market; gas turbine engines for power generation and waste incineration; and industrial heating equipment.
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