$118.31 Million in Sales Expected for Haynes International, Inc. (HAYN) This Quarter
Wall Street brokerages forecast that Haynes International, Inc. (NASDAQ:HAYN) will report $118.31 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Haynes International’s earnings, with the lowest sales estimate coming in at $115.68 million and the highest estimate coming in at $120.94 million. Haynes International reported sales of $110.21 million in the same quarter last year, which indicates a positive year-over-year growth rate of 7.3%. The business is expected to issue its next earnings report on Thursday, May 2nd.
According to Zacks, analysts expect that Haynes International will report full year sales of $482.51 million for the current fiscal year, with estimates ranging from $481.12 million to $483.90 million. For the next year, analysts forecast that the firm will post sales of $498.78 million, with estimates ranging from $494.22 million to $503.34 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Haynes International.
Haynes International (NASDAQ:HAYN) last posted its quarterly earnings data on Thursday, January 31st. The basic materials company reported ($0.13) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.13). The company had revenue of $107.07 million during the quarter, compared to analysts’ expectations of $104.63 million. Haynes International had a negative net margin of 0.18% and a positive return on equity of 0.02%.
NASDAQ:HAYN traded down $0.74 on Thursday, reaching $34.66. The stock had a trading volume of 37,900 shares, compared to its average volume of 59,880. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.98 and a quick ratio of 1.35. Haynes International has a 12-month low of $24.46 and a 12-month high of $45.14. The stock has a market cap of $421.46 million, a P/E ratio of -495.14 and a beta of 1.73.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend is Thursday, February 28th. Haynes International’s dividend payout ratio (DPR) is presently -1,257.14%.
In other Haynes International news, insider Michael L. Shor bought 2,000 shares of Haynes International stock in a transaction that occurred on Thursday, December 6th. The stock was purchased at an average cost of $33.22 per share, for a total transaction of $66,440.00. Following the completion of the acquisition, the insider now owns 28,255 shares of the company’s stock, valued at approximately $938,631.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Scott R. Pinkham sold 5,147 shares of the firm’s stock in a transaction that occurred on Friday, December 14th. The stock was sold at an average price of $28.50, for a total transaction of $146,689.50. Following the sale, the vice president now owns 19,755 shares of the company’s stock, valued at $563,017.50. The disclosure for this sale can be found here. Company insiders own 3.20% of the company’s stock.
A number of institutional investors have recently bought and sold shares of HAYN. Quantamental Technologies LLC bought a new position in shares of Haynes International during the 4th quarter valued at $29,000. Municipal Employees Retirement System of Michigan bought a new position in shares of Haynes International during the 4th quarter valued at $93,000. Metropolitan Life Insurance Co. NY raised its holdings in Haynes International by 351.7% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,966 shares of the basic materials company’s stock worth $105,000 after acquiring an additional 3,088 shares during the period. Oregon Public Employees Retirement Fund bought a new position in Haynes International in the 4th quarter worth $126,000. Finally, GSA Capital Partners LLP bought a new position in Haynes International in the 3rd quarter worth $235,000. 99.74% of the stock is owned by hedge funds and other institutional investors.
About Haynes International
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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