Eastern (NASDAQ:EML) Announces Earnings Results, Misses Expectations By $0.29 EPS

Eastern (NASDAQ:EML) issued its quarterly earnings data on Tuesday. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.29), Zacks reports. Eastern had a return on equity of 3.38% and a net margin of 3.44%. The business had revenue of $74.98 million for the quarter, compared to analysts’ expectations of $78.55 million.

Eastern Stock Performance

Shares of EML stock traded up $3.26 during trading hours on Wednesday, reaching $32.74. The stock had a trading volume of 16,330 shares, compared to its average volume of 19,122. The firm has a market capitalization of $197.10 million, a PE ratio of 24.49 and a beta of 0.89. The firm has a 50-day simple moving average of $25.60 and a 200-day simple moving average of $22.95. Eastern has a twelve month low of $17.61 and a twelve month high of $33.86. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.80 and a quick ratio of 1.32.

Eastern Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 16th will be paid a dividend of $0.11 per share. The ex-dividend date is Monday, November 16th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.3%. Eastern’s dividend payout ratio (DPR) is currently 32.84%.

Analyst Upgrades and Downgrades

EML has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Eastern in a report on Monday, September 21st. Wall Street Zen upgraded shares of Eastern from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Two research analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, Eastern has an average rating of “Hold”.

About Eastern

The Eastern Company (NASDAQ: EML) is a diversified manufacturer of engineered products serving industrial, security and transportation markets. The company develops and produces products used in commercial vehicles, industrial equipment, specialty vehicles and other applications where security, access control and engineered components are required. Its product offerings include locks, latches, access hardware and other security-related components, as well as vehicle mirrors and related equipment.