Park Electrochemical Corp. (PKE) Posts Quarterly Earnings Results, Misses Expectations By $0.11 EPS
Park Electrochemical Corp. (NYSE:PKE) released its quarterly earnings data on Thursday. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business earned $29.06 million during the quarter, compared to analyst estimates of $37.95 million. During the same period in the previous year, the company earned $0.23 EPS.
Shares of Park Electrochemical Corp. (NYSE:PKE) opened at 17.72 on Thursday. The firm has a market capitalization of $358.55 million, a price-to-earnings ratio of 22.18 and a beta of 1.37. Park Electrochemical Corp. has a 12-month low of $13.65 and a 12-month high of $18.09. The company’s 50-day moving average is $16.61 and its 200-day moving average is $16.05.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Tuesday, October 4th will be issued a dividend of $0.10 per share. 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 payout ratio is 49.38%.
A number of equities research analysts recently weighed in on PKE shares. Needham & Company LLC lowered their price target on shares of Park Electrochemical Corp. from $21.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, June 30th. Zacks Investment Research raised shares of Park Electrochemical Corp. from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 31st.
Several hedge funds have recently bought and sold shares of PKE. Arizona State Retirement System boosted 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 valued at $153,000 after buying an additional 200 shares in the last quarter. Citadel Advisors LLC boosted 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 valued at $389,000 after buying an additional 10,621 shares in the last quarter. Teachers Advisors Inc. boosted 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 valued at $467,000 after buying an additional 2,684 shares in the last quarter. Deere & Co. bought a new stake in Park Electrochemical Corp. during the second quarter valued at approximately $282,000. Finally, US Bancorp DE boosted 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 valued at $283,000 after buying an additional 351 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.
About Park Electrochemical Corp.
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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