KeyCorp Weighs in on Haynes International, Inc.’s FY2017 Earnings (HAYN)
Haynes International, Inc. (NASDAQ:HAYN) – Research analysts at KeyCorp lowered their FY2017 EPS estimates for Haynes International in a report released on Monday. KeyCorp analyst P. Gibbs now expects that the basic materials company will post earnings per share of ($0.86) for the year, down from their previous forecast of ($0.75). KeyCorp also issued estimates for Haynes International’s Q4 2017 earnings at ($0.33) EPS and FY2018 earnings at $0.50 EPS.
Several other research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Haynes International from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 11th. Longbow Research upgraded shares of Haynes International from a “neutral” rating to a “buy” rating and set a $47.00 price target on the stock in a research report on Monday, May 15th. Finally, J P Morgan Chase & Co reiterated a “neutral” rating and issued a $26.00 price target (down from $33.50) on shares of Haynes International in a research report on Saturday, July 22nd.
Haynes International (NASDAQ HAYN) opened at 30.61 on Thursday. Haynes International has a 1-year low of $28.97 and a 1-year high of $48.37. The firm’s market capitalization is $379.56 million. The firm has a 50-day moving average price of $31.90 and a 200-day moving average price of $36.45.
Haynes International (NASDAQ:HAYN) last posted its earnings results on Thursday, August 3rd. The basic materials company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by $0.02. Haynes International had a negative net margin of 0.84% and a negative return on equity of 1.59%. The business had revenue of $97.98 million during the quarter, compared to analyst estimates of $97.54 million. During the same period in the previous year, the firm posted $0.22 earnings per share. The firm’s revenue was down 3.2% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.88 annualized dividend and a yield of 2.87%. Haynes International’s payout ratio is presently -314.29%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio increased its position in Haynes International by 0.6% in the second quarter. Public Employees Retirement System of Ohio now owns 67,188 shares of the basic materials company’s stock valued at $2,440,000 after buying an additional 388 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Haynes International by 3.9% in the second quarter. The Manufacturers Life Insurance Company now owns 10,422 shares of the basic materials company’s stock valued at $378,000 after buying an additional 395 shares during the last quarter. State Street Corp increased its stake in shares of Haynes International by 7.1% in the second quarter. State Street Corp now owns 426,006 shares of the basic materials company’s stock valued at $15,469,000 after buying an additional 28,260 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Haynes International by 15.9% in the second quarter. Royal Bank of Canada now owns 10,371 shares of the basic materials company’s stock valued at $377,000 after buying an additional 1,420 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Haynes International by 22.7% in the second quarter. Goldman Sachs Group Inc. now owns 24,674 shares of the basic materials company’s stock valued at $896,000 after buying an additional 4,571 shares during the last quarter. Institutional investors and hedge funds own 98.64% of the company’s stock.
Haynes International Company Profile
Haynes International, Inc (Haynes) is a producer of nickel- and cobalt-based alloys in flat product forms, such as sheet, coil and plate forms. The Company also produces its products as seamless and welded tubulars, and in slab, bar, billet and wire forms. It focuses on developing, manufacturing, marketing and distributing alloys, which are sold in the aerospace, chemical processing and industrial gas turbine industries.
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