Atkore (NYSE:ATKR - Get Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 16.000-17.000 for the period, compared to the consensus estimate of 16.930. The company issued revenue guidance of -.
Atkore Stock Performance
ATKR stock traded up $3.35 during midday trading on Wednesday, hitting $157.69. 995,265 shares of the stock traded hands, compared to its average volume of 483,466. Atkore has a 1-year low of $116.14 and a 1-year high of $194.98. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.96 and a quick ratio of 1.99. The stock's fifty day simple moving average is $176.60 and its 200-day simple moving average is $155.43. The firm has a market cap of $5.80 billion, a P/E ratio of 9.45 and a beta of 2.19.
Atkore (NYSE:ATKR - Get Free Report) last posted its earnings results on Monday, May 6th. The company reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.86. Atkore had a net margin of 18.80% and a return on equity of 46.79%. The business had revenue of $792.90 million for the quarter, compared to analyst estimates of $808.22 million. During the same period in the prior year, the company posted $4.31 EPS. The company's revenue for the quarter was down 11.5% on a year-over-year basis. On average, analysts expect that Atkore will post 15.06 earnings per share for the current year.
Atkore Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Tuesday, May 21st will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Monday, May 20th. Atkore's payout ratio is currently 7.67%.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on ATKR. Royal Bank of Canada reaffirmed an outperform rating and set a $187.00 target price on shares of Atkore in a research note on Friday, March 22nd. Citigroup reduced their price objective on shares of Atkore from $200.00 to $188.00 and set a neutral rating for the company in a research report on Wednesday. Finally, StockNews.com upgraded shares of Atkore from a hold rating to a buy rating in a research report on Friday, April 5th.
Read Our Latest Stock Report on ATKR
Insider Transactions at Atkore
In other news, VP Daniel S. Kelly sold 8,685 shares of the company's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $173.07, for a total transaction of $1,503,112.95. Following the completion of the sale, the vice president now owns 34,907 shares of the company's stock, valued at $6,041,354.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO William E. Jr. Waltz sold 43,072 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $160.48, for a total value of $6,912,194.56. Following the completion of the sale, the chief executive officer now owns 83,716 shares of the company's stock, valued at $13,434,743.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Daniel S. Kelly sold 8,685 shares of Atkore stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $173.07, for a total value of $1,503,112.95. Following the transaction, the vice president now owns 34,907 shares in the company, valued at approximately $6,041,354.49. The disclosure for this sale can be found here. Insiders have sold 148,464 shares of company stock valued at $25,124,751 over the last ninety days. Insiders own 2.56% of the company's stock.
About Atkore
(
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Atkore Inc engages in the manufacture and sale of electrical, mechanical, safety, and infrastructure products and solutions in the United States and internationally. The company offers conduits, cables, and installation accessories. It also designs and manufactures protection and reliability solutions for critical infrastructure, such as metal framing, mechanical pipe, perimeter security, and cable management.
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