The Park Electrochemical Corp. (PKE) Posts Earnings Results, Misses Expectations By $0.11 EPS

The Park Electrochemical Corp. (PKE) Posts  Earnings Results, Misses Expectations By $0.11 EPS

Park Electrochemical Corp. (NYSE:PKE) released its earnings results on Thursday. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.21 by $0.11. Park Electrochemical Corp. had a net margin of 10.42% and a return on equity of 7.78%. The firm earned $29.06 million during the quarter. During the same period in the previous year, the company earned $0.23 earnings per share.

Shares of Park Electrochemical Corp. (NYSE:PKE) opened at 15.00 on Monday. The company has a market capitalization of $303.51 million, a PE ratio of 18.77 and a beta of 1.36. The company has a 50-day moving average price of $16.60 and a 200 day moving average price of $16.05. Park Electrochemical Corp. has a one year low of $13.65 and a one year high of $18.09.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Tuesday, October 4th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend is Friday, September 30th. Park Electrochemical Corp.’s payout ratio is presently 58.82%.

A number of equities research analysts have recently weighed in on PKE shares. Zacks Investment Research raised 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 target on Park Electrochemical Corp. from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, June 30th.

Hedge funds have recently modified their holdings of the company. 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 during the last quarter. US Bancorp DE boosted its position in shares of 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 in the last quarter. Prudential Financial Inc. boosted its position in shares of Park Electrochemical Corp. by 0.9% in the second quarter. Prudential Financial Inc. now owns 70,024 shares of the company’s stock worth $1,018,000 after buying an additional 600 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Park Electrochemical Corp. by 1.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 68,655 shares of the company’s stock worth $998,000 after buying an additional 1,050 shares in the last quarter. Finally, BlackRock Group LTD boosted its position in shares of Park Electrochemical Corp. by 3.2% in the second quarter. BlackRock Group LTD now owns 37,310 shares of the company’s stock worth $542,000 after buying an additional 1,157 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

About Park Electrochemical Corp.

Related posts

Leave a Comment