Headwaters Inc. (HW) to Post Q4 2016 Earnings of $0.43 Per Share, Jefferies Group Forecasts
Headwaters Inc. (NYSE:HW) – Analysts at Jefferies Group dropped their Q4 2016 earnings estimates for Headwaters in a report released on Tuesday. Jefferies Group analyst P. Ng now anticipates that the brokerage will earn $0.43 per share for the quarter, down from their prior forecast of $0.45. Jefferies Group currently has a “Buy” rating and a $21.00 target price on the stock. Jefferies Group also issued estimates for Headwaters’ Q1 2017 earnings at $0.30 EPS, Q2 2017 earnings at $0.20 EPS, Q3 2017 earnings at $0.46 EPS and FY2017 earnings at $1.52 EPS.
Headwaters (NYSE:HW) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by $0.08. The firm had revenue of $262.50 million for the quarter, compared to the consensus estimate of $276.83 million. Headwaters had a return on equity of 34.50% and a net margin of 16.60%. The company’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.30 EPS.
A number of other research analysts have also recently issued reports on the company. Canaccord Genuity reaffirmed a “buy” rating and set a $23.50 price objective on shares of Headwaters in a research note on Wednesday, July 6th. Zacks Investment Research raised Headwaters from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research note on Wednesday, July 13th. Deutsche Bank AG raised their target price on Headwaters from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, August 3rd. Wedbush reissued a “hold” rating and issued a $21.00 target price on shares of Headwaters in a research note on Monday, July 11th. Finally, CL King cut Headwaters from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 9th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $22.21.
Shares of Headwaters (NYSE:HW) traded up 1.45% during midday trading on Wednesday, reaching $16.80. The company had a trading volume of 133,537 shares. The company has a 50 day moving average of $17.64 and a 200 day moving average of $18.66. Headwaters has a one year low of $13.62 and a one year high of $21.25. The company has a market capitalization of $1.24 billion, a PE ratio of 7.95 and a beta of 1.53.
In other Headwaters news, Director R Sam Christensen bought 5,706 shares of the stock in a transaction dated Monday, August 8th. The stock was purchased at an average cost of $19.05 per share, for a total transaction of $108,699.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bob L. Whisnant sold 32,890 shares of Headwaters stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $19.02, for a total transaction of $625,567.80. Following the transaction, the insider now owns 6,046 shares of the company’s stock, valued at $114,994.92. The disclosure for this sale can be found here. Insiders own 6.40% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Fund Advisors raised its position in Headwaters by 2.0% in the second quarter. BlackRock Fund Advisors now owns 4,648,471 shares of the company’s stock valued at $83,394,000 after buying an additional 91,040 shares during the last quarter. Vanguard Group Inc. raised its position in Headwaters by 2.5% in the second quarter. Vanguard Group Inc. now owns 4,530,501 shares of the company’s stock valued at $81,276,000 after buying an additional 111,090 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Headwaters by 1.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,814,631 shares of the company’s stock valued at $50,493,000 after buying an additional 46,587 shares during the last quarter. Victory Capital Management Inc. raised its position in Headwaters by 6.6% in the second quarter. Victory Capital Management Inc. now owns 2,243,288 shares of the company’s stock valued at $40,245,000 after buying an additional 139,247 shares during the last quarter. Finally, Glenmede Trust Co. NA raised its position in Headwaters by 397.9% in the second quarter. Glenmede Trust Co. NA now owns 1,652,805 shares of the company’s stock valued at $29,650,000 after buying an additional 1,320,846 shares during the last quarter. Hedge funds and other institutional investors own 91.27% of the company’s stock.
Headwaters Incorporated is a building materials company. The Company’s segments include building products, construction materials and energy technology. Its building products segment consists of product sales to wholesale and retail distributors, contractors and other users of building products. Its construction materials segment consists of coal combustion products (CCP) sales to ready-mix concrete businesses, with a smaller amount from services provided to coal-fueled electric generating utilities.
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