Atkore International Group (ATKR) Updates FY 2019 Earnings Guidance

Atkore International Group (NYSE:ATKR) issued an update on its FY 2019 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $3.25-3.40 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.20. Atkore International Group also updated its FY19 guidance to $3.25-3.40 EPS.

Shares of ATKR traded down $0.09 during mid-day trading on Friday, hitting $23.39. 309,200 shares of the company’s stock traded hands, compared to its average volume of 309,636. The company has a debt-to-equity ratio of 5.58, a quick ratio of 1.66 and a current ratio of 2.53. Atkore International Group has a 1 year low of $17.47 and a 1 year high of $28.67. The stock has a market capitalization of $1.09 billion, a PE ratio of 9.43 and a beta of 1.97.

Atkore International Group (NYSE:ATKR) last posted its earnings results on Tuesday, May 7th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.18. Atkore International Group had a return on equity of 103.17% and a net margin of 6.51%. The firm had revenue of $469.30 million for the quarter, compared to analysts’ expectations of $478.77 million. During the same period in the previous year, the firm earned $0.63 earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year. Research analysts forecast that Atkore International Group will post 2.73 EPS for the current fiscal year.

Several equities research analysts recently weighed in on ATKR shares. TheStreet upgraded Atkore International Group from a c rating to a b- rating in a research report on Thursday, May 23rd. Zacks Investment Research upgraded Atkore International Group from a hold rating to a buy rating and set a $25.00 price target on the stock in a research report on Wednesday, March 20th. Finally, Credit Suisse Group started coverage on Atkore International Group in a research report on Thursday, February 21st. They set a neutral rating and a $25.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $27.00.

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About Atkore International Group

Atkore International Group Inc manufactures and distributes electrical raceway products, and mechanical products and solutions (MP&S) in the United States and internationally. The company offers electrical raceway products, including electrical conduits and fittings, armored cables and fittings, and cable trays and mounting systems and fittings.

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