Zacks: Brokerages Anticipate Ducommun Incorporated (DCO) Will Announce Quarterly Sales of $141.15 Million
Wall Street analysts expect Ducommun Incorporated (NYSE:DCO) to report $141.15 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Ducommun’s earnings. The lowest sales estimate is $140.30 million and the highest is $142.00 million. Ducommun posted sales of $132.57 million in the same quarter last year, which would indicate a positive year over year growth rate of 6.5%. The firm is expected to report its next earnings results on Thursday, November 2nd.
According to Zacks, analysts expect that Ducommun will report full year sales of $141.15 million for the current year, with estimates ranging from $558.59 million to $563.24 million. For the next year, analysts forecast that the firm will report sales of $582.10 million per share, with estimates ranging from $573.19 million to $591.00 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Ducommun.
Ducommun (NYSE:DCO) last released its earnings results on Thursday, August 3rd. The aerospace company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. Ducommun had a return on equity of 7.49% and a net margin of 2.50%. The business had revenue of $140.90 million for the quarter, compared to analyst estimates of $138.39 million. During the same quarter last year, the firm posted $0.34 earnings per share. The business’s revenue was up 5.6% compared to the same quarter last year.
DCO has been the topic of a number of research analyst reports. B. Riley upgraded Ducommun from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Friday, May 5th. Canaccord Genuity restated a “buy” rating and issued a $35.00 target price on shares of Ducommun in a research report on Thursday, June 22nd. Noble Financial restated a “hold” rating on shares of Ducommun in a research report on Friday, August 4th. Finally, Zacks Investment Research upgraded Ducommun from a “sell” rating to a “hold” rating in a research report on Tuesday, May 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $36.25.
In related news, Director Robert C. Ducommun sold 4,900 shares of the business’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $32.01, for a total value of $156,849.00. Following the sale, the director now owns 416,300 shares in the company, valued at approximately $13,325,763. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert C. Ducommun sold 900 shares of the business’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $33.01, for a total value of $29,709.00. Following the completion of the sale, the director now owns 421,600 shares in the company, valued at approximately $13,917,016. The disclosure for this sale can be found here. Insiders sold 9,000 shares of company stock worth $289,784 in the last 90 days. Company insiders own 8.20% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Royal Bank of Canada increased its stake in Ducommun by 4.2% in the second quarter. Royal Bank of Canada now owns 1,460,820 shares of the aerospace company’s stock valued at $46,133,000 after buying an additional 58,559 shares in the last quarter. Paradigm Capital Management Inc. NY increased its stake in Ducommun by 33.9% in the second quarter. Paradigm Capital Management Inc. NY now owns 604,695 shares of the aerospace company’s stock valued at $19,097,000 after buying an additional 153,095 shares in the last quarter. Renaissance Technologies LLC increased its stake in Ducommun by 12.1% in the second quarter. Renaissance Technologies LLC now owns 597,500 shares of the aerospace company’s stock valued at $18,869,000 after buying an additional 64,400 shares in the last quarter. Vanguard Group Inc. increased its stake in Ducommun by 3.7% in the second quarter. Vanguard Group Inc. now owns 457,773 shares of the aerospace company’s stock valued at $14,456,000 after buying an additional 16,204 shares in the last quarter. Finally, LSV Asset Management increased its stake in Ducommun by 7.9% in the first quarter. LSV Asset Management now owns 292,312 shares of the aerospace company’s stock valued at $8,415,000 after buying an additional 21,425 shares in the last quarter. Hedge funds and other institutional investors own 79.87% of the company’s stock.
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Shares of Ducommun (NYSE DCO) opened at 30.04 on Wednesday. Ducommun has a 1-year low of $18.70 and a 1-year high of $35.58. The firm has a 50-day moving average price of $30.64 and a 200-day moving average price of $30.56. The stock has a market cap of $340.02 million, a price-to-earnings ratio of 24.99 and a beta of 0.90.
Ducommun Incorporated is a global provider of engineering and manufacturing services for various products and failure applications used primarily in the aerospace, defense, industrial, natural resources, medical and other industries. The Company is a solution-based provider, offering a range of value-added products and services in its primary businesses of electronics, structures and integrated solutions.
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