Ducommun (NYSE:DCO) Releases Earnings Results, Beats Expectations By $0.04 EPS

Ducommun (NYSE:DCO) announced its earnings results on Thursday. The aerospace company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.95 by $0.04, Zacks reports. Ducommun had a return on equity of 7.61% and a net margin of 5.03%.The business had revenue of $212.56 million during the quarter, compared to the consensus estimate of $211.41 million. During the same period in the prior year, the business posted $0.67 earnings per share. Ducommun’s revenue was up 5.6% compared to the same quarter last year.

Ducommun Stock Up 0.4%

Shares of DCO traded up $0.34 during midday trading on Friday, reaching $89.49. 109,958 shares of the stock were exchanged, compared to its average volume of 109,400. Ducommun has a 12-month low of $51.76 and a 12-month high of $101.47. The firm has a 50 day simple moving average of $93.49 and a 200-day simple moving average of $84.12. The company has a quick ratio of 2.17, a current ratio of 3.24 and a debt-to-equity ratio of 0.31. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 34.03 and a beta of 1.38.

Hedge Funds Weigh In On Ducommun

A number of hedge funds have recently added to or reduced their stakes in the company. Alliancebernstein L.P. grew its position in shares of Ducommun by 1,993.3% in the second quarter. Alliancebernstein L.P. now owns 302,969 shares of the aerospace company’s stock valued at $25,034,000 after purchasing an additional 288,496 shares during the last quarter. Man Group plc acquired a new position in shares of Ducommun during the 2nd quarter worth about $954,000. AQR Capital Management LLC boosted its stake in Ducommun by 14.5% during the 1st quarter. AQR Capital Management LLC now owns 83,479 shares of the aerospace company’s stock valued at $4,844,000 after purchasing an additional 10,574 shares during the period. Cerity Partners LLC bought a new stake in Ducommun during the 2nd quarter valued at approximately $822,000. Finally, Balyasny Asset Management L.P. acquired a new stake in Ducommun in the 2nd quarter valued at approximately $703,000. Institutional investors and hedge funds own 92.15% of the company’s stock.

Wall Street Analyst Weigh In

DCO has been the topic of several recent analyst reports. Royal Bank Of Canada boosted their price objective on Ducommun from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Citigroup restated a “buy” rating and set a $101.00 price target (up previously from $91.00) on shares of Ducommun in a report on Monday, July 14th. Weiss Ratings restated a “buy (b-)” rating on shares of Ducommun in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Ducommun from a “buy” rating to a “strong-buy” rating in a research report on Sunday, November 2nd. Finally, Zacks Research upgraded Ducommun to a “hold” rating in a report on Monday, August 11th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $97.50.

Ducommun Company Profile

Ducommun Incorporated provides engineering and manufacturing services for products and applications used primarily in the aerospace and defense, industrial, medical, and other industries in the United States. The company operates through two segments, Electronic Systems and Structural Systems. The Electronic Systems segment provides cable assemblies and interconnect systems; printed circuit board assemblies; electronic, electromechanical, and mechanical components and assemblies, as well as lightning diversion systems; and radar enclosures, aircraft avionics racks, shipboard communications and control enclosures, printed circuit board assemblies, cable assemblies, wire harnesses, interconnect systems, lightning diversion strips, surge suppressors, conformal shields, and other assemblies.