Park Electrochemical Corp. (PKE) Posts Earnings Results, Misses Expectations By $0.11 EPS
Park Electrochemical Corp. (NYSE:PKE) issued its quarterly earnings data on Thursday. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by $0.11. Park Electrochemical Corp. had a return on equity of 9.32% and a net margin of 11.61%. The company had revenue of $29.06 million for the quarter, compared to analyst estimates of $37.95 million. During the same quarter in the previous year, the business earned $0.23 earnings per share.
Park Electrochemical Corp. (NYSE:PKE) opened at 17.72 on Thursday. The company has a market cap of $358.55 million, a P/E ratio of 22.18 and a beta of 1.37. The company has a 50-day moving average of $16.61 and a 200-day moving average of $16.05. Park Electrochemical Corp. has a 52-week low of $13.65 and a 52-week high of $18.09.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Tuesday, October 4th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Friday, September 30th. Park Electrochemical Corp.’s dividend payout ratio (DPR) is currently 49.38%.
A number of large investors have recently bought and sold shares of the company. Arizona State Retirement System raised its stake in Park Electrochemical Corp. by 1.9% in the second quarter. Arizona State Retirement System now owns 10,522 shares of the company’s stock worth $153,000 after buying an additional 200 shares during the last quarter. Citadel Advisors LLC raised its stake in Park Electrochemical Corp. by 65.8% in the second quarter. Citadel Advisors LLC now owns 26,753 shares of the company’s stock worth $389,000 after buying an additional 10,621 shares during the last quarter. Teachers Advisors Inc. raised its stake in Park Electrochemical Corp. by 9.1% in the second quarter. Teachers Advisors Inc. now owns 32,142 shares of the company’s stock worth $467,000 after buying an additional 2,684 shares during the last quarter. Deere & Co. acquired a new stake in Park Electrochemical Corp. during the second quarter worth $282,000. Finally, US Bancorp DE raised its stake in Park Electrochemical Corp. by 1.8% in the second quarter. US Bancorp DE now owns 19,480 shares of the company’s stock worth $283,000 after buying an additional 351 shares during the last quarter. 82.68% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Park Electrochemical Corp. from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 31st. Needham & Company LLC dropped their price objective on shares of Park Electrochemical Corp. from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, June 30th.
Park Electrochemical Corp. Company Profile
Park Electrochemical Corp. is a global advanced materials company. The Company develops, manufactures, markets and sells digital and radio frequency (RF)/microwave printed circuit materials products principally for the telecommunications and Internet infrastructure and high-end computing markets and advanced composite materials, parts and assemblies and low-volume tooling products for the aerospace markets.
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