Haynes International, Inc. (NASDAQ:HAYN) to Post FY2024 Earnings of $2.52 Per Share, Noble Financial Forecasts

Haynes International, Inc. (NASDAQ:HAYN) – Analysts at Noble Financial reduced their FY2024 earnings per share estimates for shares of Haynes International in a report released on Monday, August 5th. Noble Financial analyst M. Reichman now anticipates that the basic materials company will earn $2.52 per share for the year, down from their previous estimate of $3.00. 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 $0.63 EPS.

Separately, StockNews.com started coverage on Haynes International in a research report on Friday. They issued a “hold” rating on the stock.

Haynes International Stock Performance

NASDAQ HAYN traded up $0.28 during trading hours on Thursday, hitting $59.84. The company had a trading volume of 31,168 shares, compared to its average volume of 169,197. Haynes International has a fifty-two week low of $41.15 and a fifty-two week high of $60.86. The company has a quick ratio of 1.75, a current ratio of 7.63 and a debt-to-equity ratio of 0.25. The business has a fifty day simple moving average of $59.01 and a 200-day simple moving average of $59.20. The firm has a market cap of $764.93 million, a P/E ratio of 20.22, a price-to-earnings-growth ratio of 0.94 and a beta of 1.40.

Haynes International (NASDAQ:HAYN) last issued its earnings results on Thursday, August 1st. The basic materials company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.33). Haynes International had a return on equity of 8.51% and a net margin of 6.11%. The company had revenue of $153.92 million during the quarter, compared to analyst estimates of $159.35 million.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Gabelli Funds LLC purchased a new stake in shares of Haynes International during the 1st quarter worth about $8,325,000. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in shares of Haynes International during the 1st quarter worth about $7,070,000. Nisa Investment Advisors LLC raised its stake in shares of Haynes International by 71,414.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 25,030 shares of the basic materials company’s stock worth $1,469,000 after purchasing an additional 24,995 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Haynes International by 352.9% during 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 in the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Haynes International by 1,035.8% during the 2nd quarter. SG Americas Securities LLC now owns 21,501 shares of the basic materials company’s stock worth $1,262,000 after purchasing an additional 19,608 shares in the last quarter. Institutional investors own 97.31% of the company’s stock.

Haynes International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be paid a dividend of $0.22 per share. The ex-dividend date is Friday, August 30th. This represents a $0.88 annualized dividend and a yield of 1.47%. Haynes International’s dividend payout ratio is currently 29.73%.

About Haynes International

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.