Atkore (ATKR) Set to Announce Quarterly Earnings on Tuesday

Atkore (NYSE:ATKR) will issue its quarterly earnings data before the market opens on Tuesday, May 7th. Analysts expect the company to announce earnings of $3.22 per share for the quarter. Atkore has set its FY 2024 guidance at 16.500-17.500 EPS and its FY24 guidance at $16.50-$17.50 EPS.Parties interested in participating in the company’s conference call can do so using this link.

Atkore (NYSE:ATKR) last announced its quarterly earnings results on Thursday, February 1st. The company reported $4.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.08 by $1.04. The company had revenue of $798.50 million during the quarter, compared to analyst estimates of $777.05 million. Atkore had a return on equity of 46.79% and a net margin of 18.80%. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.51 EPS. On average, analysts expect Atkore to post $15 EPS for the current fiscal year and $16 EPS for the next fiscal year.

Atkore Price Performance

Shares of NYSE ATKR opened at $183.09 on Tuesday. The stock has a market cap of $6.73 billion, a P/E ratio of 10.98 and a beta of 2.19. The firm’s 50-day simple moving average is $174.26 and its 200 day simple moving average is $153.78. Atkore has a fifty-two week low of $116.14 and a fifty-two week high of $194.98. The company has a quick ratio of 1.99, a current ratio of 2.96 and a debt-to-equity ratio of 0.51.

Wall Street Analysts Forecast Growth

ATKR has been the subject of a number of research analyst reports. Citigroup increased their price objective on shares of Atkore from $176.00 to $200.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $187.00 price target on shares of Atkore in a research note on Friday, March 22nd. Finally, StockNews.com upgraded Atkore from a “hold” rating to a “buy” rating in a report on Friday, April 5th.

Insider Activity

In related news, Director Justin A. Kershaw sold 1,099 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $171.77, for a total value of $188,775.23. Following the completion of the sale, the director now owns 16,686 shares in the company, valued at approximately $2,866,154.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Atkore news, Director Justin A. Kershaw sold 1,099 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $171.77, for a total value of $188,775.23. Following the completion of the sale, the director now owns 16,686 shares in the company, valued at approximately $2,866,154.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Leangela W. Lowe sold 6,500 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $176.07, for a total transaction of $1,144,455.00. Following the completion of the transaction, the vice president now directly owns 25,590 shares in the company, valued at $4,505,631.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 148,464 shares of company stock worth $25,124,751. Insiders own 2.56% of the company’s stock.

Atkore Company Profile

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.