Insteel Industries, Inc. (NASDAQ:IIIN) is set to announce fourth quarter earning results on Thursday 22nd October 2020, before market open.
Analysts surveyed by Thomson Reuters are predicting, IIIN to report 4Q20 income of $ 0.24 per share from revenue of $ 114.32 million.
For the full year, analysts anticipate top line of $ 448.71 million, while looking forward to income of $ 0.83 per share bottom line.
Previous Quarter Performance
Insteel Industries, Inc. outlined income for the third quarter of $ 0.34 per share, from the revenue of $ 121.96 million. The quarterly earnings swell 209.09 percent while revenues shrunk 3.40 percent compared with the same quarter last year.
Wall street analysts are predicting, IIIN to report 3Q20 income of $ 0.17 per share from revenue of $ 115.45 million. The bottom line results beat street analysts by $ 0.17 or 100.00 percent, at the same time, top line results outshined analysts by $ 6.51 million or 5.64 percent.
Stock Performance
Shares of Insteel Industries, Inc. traded up $ 0.07 or 0.33 percent on Wednesday, reaching $ 21.02 with volume of 18.60 thousand shares. The stock opened down for the day at $ 20.87, after closing the previous day trading at $ 20.95.
According to the previous trading day, closing price of $ 20.95, representing a 109.50 % increase from the 52 week low of $ 10.00 and a 21.27 % decrease over the 52 week high of $ 26.61.
The company has a market capital of $ 404.86 million and is part of the Industrials sector and Metal Fabrication industry.
Recent Stock Dividend Announcement
The board of directors has authorized quarterly dividend of $ 0.03 per share on August 18, 2020. The dividend were payable on September 25, 2020 to holders of record as of the close of business on September 11, 2020 and ex-dividend date on September 10, 2020.
Conference Call
Insteel Industries, Inc. will be hosting a conference call at 10:00 AM eastern time on 22nd October 2020, to discuss its 4Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.insteel.com
Insteel Industries, Inc., together with its subsidiaries, manufactures and markets steel wire reinforcing products for concrete construction applications. The company offers pre-stressed concrete strand (PC strand) and welded wire reinforcement (WWR) products. Its PC strand is a seven-wire strand that is used to impart compression forces into precast concrete elements and structures providing reinforcement for bridges, parking decks, buildings, and other concrete structures.
