Equities Analysts Set Expectations for Haynes International, Inc.’s Q3 2024 Earnings (NASDAQ:HAYN)

Haynes International, Inc. (NASDAQ:HAYN) – Equities researchers at Noble Financial decreased their Q3 2024 earnings per share estimates for Haynes International in a note issued to investors on Monday, July 1st. Noble Financial analyst M. Reichman now expects that the basic materials company will post earnings per share of $0.80 for the quarter, down from their prior forecast of $0.82. The consensus estimate for Haynes International’s current full-year earnings is $3.02 per share. Noble Financial also issued estimates for Haynes International’s Q4 2024 earnings at $0.94 EPS, FY2024 earnings at $3.00 EPS and FY2025 earnings at $4.15 EPS.

Several other research firms have also issued reports on HAYN. Northcoast Research reiterated a “neutral” rating on shares of Haynes International in a report on Thursday, March 14th. StockNews.com began coverage on shares of Haynes International in a report on Sunday. They issued a “hold” rating for the company.

Haynes International Stock Performance

Haynes International stock opened at $58.86 on Tuesday. The stock’s 50 day simple moving average is $58.97 and its two-hundred day simple moving average is $58.38. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.75 and a current ratio of 7.63. The stock has a market cap of $752.23 million, a price-to-earnings ratio of 19.89, a PEG ratio of 0.91 and a beta of 1.40. Haynes International has a fifty-two week low of $41.15 and a fifty-two week high of $60.86.

Haynes International (NASDAQ:HAYN) last posted its earnings results on Thursday, May 9th. The basic materials company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.20). The business had revenue of $152.46 million during the quarter, compared to the consensus estimate of $160.52 million. Haynes International had a return on equity of 8.79% and a net margin of 6.31%.

Institutional Trading of Haynes International

Several hedge funds have recently made changes to their positions in HAYN. Russell Investments Group Ltd. raised its position in Haynes International by 352.9% in the 4th quarter. Russell Investments Group Ltd. now owns 27,240 shares of the basic materials company’s stock worth $1,554,000 after purchasing an additional 21,225 shares during the period. New York State Teachers Retirement System raised its position in Haynes International by 2.4% in the 4th quarter. New York State Teachers Retirement System now owns 26,061 shares of the basic materials company’s stock worth $1,487,000 after purchasing an additional 600 shares during the period. SG Americas Securities LLC purchased a new stake in Haynes International in the 1st quarter worth about $114,000. Gabelli Funds LLC purchased a new stake in Haynes International in the 1st quarter worth about $8,325,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in Haynes International in the 1st quarter worth about $7,070,000. 97.31% of the stock is currently owned by hedge funds and other institutional investors.

Haynes International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend was Friday, May 31st. Haynes International’s payout ratio is currently 29.73%.

Haynes International Company Profile

Haynes International, Inc develops, manufactures, markets, and distributes nickel and cobalt-based alloys in sheet, coil, and plate forms in the United States, Europe, China, and internationally. The company offers high-temperature resistant alloys used by manufacturers of equipment, including jet engines for the aerospace market, gas turbine engines for power generation, and industrial heating equipment.