Haynes International, Inc. (HAYN) Issues Quarterly Earnings Results, Misses Estimates By $0.02 EPS
Haynes International, Inc. (NASDAQ:HAYN) announced its earnings results on Thursday. The basic materials company reported ($0.32) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by $0.02, Briefing.com reports. Haynes International had a return on equity of 0.31% and a net margin of 0.84%. The business had revenue of $97.98 million for the quarter, compared to analysts’ expectations of $97.54 million. During the same quarter last year, the firm earned $0.22 earnings per share. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year.
Haynes International (NASDAQ:HAYN) traded up 5.10% during mid-day trading on Friday, reaching $32.17. The company’s stock had a trading volume of 101,515 shares. The stock’s 50 day moving average is $34.70 and its 200 day moving average is $37.80. The firm has a market cap of $398.91 million, a PE ratio of 121.40 and a beta of 1.51. Haynes International has a one year low of $29.92 and a one year high of $48.37.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a dividend of $0.22 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.88 annualized dividend and a yield of 2.74%. Haynes International’s payout ratio is presently 338.47%.
Several research analysts recently weighed in on HAYN shares. Longbow Research upgraded Haynes International from a “neutral” rating to a “buy” rating and set a $47.00 target price on the stock in a research note on Monday, May 15th. Zacks Investment Research upgraded Haynes International from a “strong sell” rating to a “hold” rating in a research note on Monday, April 10th. Finally, J P Morgan Chase & Co restated a “neutral” rating and set a $26.00 target price (down from $33.50) on shares of Haynes International in a research note on Saturday, July 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. Haynes International presently has an average rating of “Hold” and a consensus price target of $37.33.
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.
Receive News & Ratings for Haynes International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Haynes International Inc. and related companies with MarketBeat.com's FREE daily email newsletter.