Zacks: Brokerages Expect AdvanSix Inc. (NYSE:ASIX) to Announce $1.03 Earnings Per Share

Equities analysts forecast that AdvanSix Inc. (NYSE:ASIX) will report earnings of $1.03 per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for AdvanSix’s earnings. The highest EPS estimate is $1.20 and the lowest is $0.85. AdvanSix reported earnings per share of ($0.02) during the same quarter last year, which indicates a positive year over year growth rate of 5,250%. The company is scheduled to announce its next quarterly earnings results on Friday, October 29th.

According to Zacks, analysts expect that AdvanSix will report full year earnings of $4.27 per share for the current year, with EPS estimates ranging from $3.88 to $4.66. For the next fiscal year, analysts forecast that the company will post earnings of $4.10 per share, with EPS estimates ranging from $4.04 to $4.15. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover AdvanSix.

AdvanSix (NYSE:ASIX) last announced its earnings results on Thursday, July 29th. The company reported $1.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.45. AdvanSix had a net margin of 6.85% and a return on equity of 21.12%. The firm had revenue of $437.68 million during the quarter, compared to analyst estimates of $417.80 million.

Separately, Zacks Investment Research raised AdvanSix from a “hold” rating to a “strong-buy” rating and set a $34.00 price target for the company in a research note on Monday, July 19th.

Shares of AdvanSix stock traded up $0.23 on Friday, hitting $36.76. The company had a trading volume of 886 shares, compared to its average volume of 216,402. AdvanSix has a 52 week low of $11.62 and a 52 week high of $38.39. The company has a market cap of $1.03 billion, a PE ratio of 10.65 and a beta of 1.82. The business has a 50-day simple moving average of $33.73 and a 200-day simple moving average of $30.93. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.21 and a quick ratio of 0.69.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC boosted its stake in shares of AdvanSix by 18.7% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 66,082 shares of the company’s stock worth $1,973,000 after acquiring an additional 10,429 shares in the last quarter. Morgan Stanley raised its holdings in AdvanSix by 20.1% during the 2nd quarter. Morgan Stanley now owns 214,355 shares of the company’s stock worth $6,400,000 after buying an additional 35,930 shares during the period. Wells Fargo & Company MN lifted its stake in AdvanSix by 68.1% during the second quarter. Wells Fargo & Company MN now owns 236,802 shares of the company’s stock valued at $7,072,000 after buying an additional 95,947 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of AdvanSix by 54.6% in the second quarter. Invesco Ltd. now owns 328,159 shares of the company’s stock worth $9,798,000 after buying an additional 115,882 shares during the period. Finally, Metropolitan Life Insurance Co NY increased its position in shares of AdvanSix by 103,850.0% in the second quarter. Metropolitan Life Insurance Co NY now owns 8,316 shares of the company’s stock worth $248,000 after acquiring an additional 8,308 shares in the last quarter. Institutional investors and hedge funds own 82.01% of the company’s stock.

About AdvanSix

Advansix, Inc engages in the development and production of nylon resin products and other additives. The firm’s products include nylon resin, caprolactam, ammonium sulfate fertilizer and chemical intermediates. It offers products to carpet, engineering plastic, food packaging, building and construction, composites, plant nutrition, paints and coating markets.

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