Powell Industries, Inc. (POWL) to Distribute Quarterly Dividend of $0.09 on September 16th

Powell Industries, Inc. (NASDAQ:POWL) announced a quarterly dividend on Monday, August 3rd. Shareholders of record on Wednesday, August 19th will be given a dividend of 0.09 per share by the industrial products company on Wednesday, September 16th. This represents a c) annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Wednesday, August 19th.

Powell Industries has increased its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 3 years. Powell Industries has a payout ratio of 2.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Powell Industries to earn $6.63 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 5.4%.

Powell Industries Stock Performance

NASDAQ POWL opened at $213.48 on Monday. The firm has a market capitalization of $7.78 billion, a P/E ratio of 40.98, a PEG ratio of 2.84 and a beta of 1.18. The stock has a 50-day simple moving average of $247.73 and a two-hundred day simple moving average of $229.09. Powell Industries has a fifty-two week low of $78.50 and a fifty-two week high of $328.00.

Powell Industries (NASDAQ:POWL) last issued its earnings results on Monday, August 3rd. The industrial products company reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.07). The company had revenue of $311.74 million during the quarter, compared to analysts’ expectations of $316.70 million. Powell Industries had a return on equity of 27.51% and a net margin of 16.49%.The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.96 EPS. As a group, analysts forecast that Powell Industries will post 5.36 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on POWL. JPMorgan Chase & Co. boosted their price target on Powell Industries from $310.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Weiss Ratings lowered shares of Powell Industries from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Cantor Fitzgerald decreased their target price on shares of Powell Industries from $320.00 to $235.00 and set a “neutral” rating for the company in a research note on Friday. Glj Research raised shares of Powell Industries from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Finally, Zacks Research lowered shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $215.42.

About Powell Industries

Powell Industries, Inc is an industrial electrical engineering company specializing in the design, manufacture and integration of customized power control and distribution solutions. The firm’s offerings range from medium‐voltage switchgear and power control centers to bus duct, motor control centers and specialty transformers. Powell also provides automation systems, protective relaying, metering, supervisory control and data acquisition (SCADA) platforms, and turnkey engineering services to help clients manage critical power infrastructure.

Serving the oil and gas, petrochemical, refining, utility, mining and industrial sectors, Powell’s products are engineered to meet demanding performance, safety and reliability requirements.