Park-Ohio Holdings Corp. (NASDAQ:PKOH) Expected to Announce Quarterly Sales of $348.77 Million
Equities research analysts expect Park-Ohio Holdings Corp. (NASDAQ:PKOH) to post sales of $348.77 million for the current quarter, Zacks reports. Three analysts have made estimates for Park-Ohio Holdings Corp.’s earnings, with the highest sales estimate coming in at $351.70 million and the lowest estimate coming in at $346.80 million. Park-Ohio Holdings Corp. posted sales of $312.70 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 11.5%. The firm is scheduled to announce its next quarterly earnings report on Monday, November 6th.
On average, analysts expect that Park-Ohio Holdings Corp. will report full-year sales of $348.77 million for the current year, with estimates ranging from $1.38 billion to $1.40 billion. For the next financial year, analysts expect that the company will post sales of $1.45 billion per share, with estimates ranging from $1.44 billion to $1.47 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Park-Ohio Holdings Corp..
Park-Ohio Holdings Corp. (NASDAQ:PKOH) last announced its earnings results on Monday, August 7th. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.02. Park-Ohio Holdings Corp. had a return on equity of 16.90% and a net margin of 2.50%. The company had revenue of $350.90 million for the quarter, compared to analyst estimates of $355.83 million.
PKOH has been the topic of several research analyst reports. TheStreet raised Park-Ohio Holdings Corp. from a “c” rating to a “b-” rating in a research note on Monday, May 8th. Zacks Investment Research raised Park-Ohio Holdings Corp. from a “sell” rating to a “hold” rating in a research note on Saturday, May 13th. FBR & Co upped their target price on Park-Ohio Holdings Corp. from $33.00 to $37.00 and gave the company a “mkt perform” rating in a research note on Wednesday. Finally, BidaskClub lowered Park-Ohio Holdings Corp. from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. One equities research analyst has rated the stock with a sell rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $45.25.
Shares of Park-Ohio Holdings Corp. (PKOH) traded up 0.77% on Friday, reaching $39.15. The company had a trading volume of 27,035 shares. Park-Ohio Holdings Corp. has a 52 week low of $30.01 and a 52 week high of $47.00. The company has a 50 day moving average of $39.04 and a 200-day moving average of $39.10. The company has a market capitalization of $477.59 million, a P/E ratio of 14.82 and a beta of 3.47.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Friday, August 11th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Wednesday, August 9th. Park-Ohio Holdings Corp.’s payout ratio is currently 18.80%.
In related news, Director Patrick V. Auletta sold 2,010 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $38.55, for a total value of $77,485.50. Following the sale, the director now owns 18,645 shares of the company’s stock, valued at approximately $718,764.75. The transaction was disclosed in a filing with the SEC, which is available through this link. 31.00% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. bought a new stake in Park-Ohio Holdings Corp. during the fourth quarter worth about $162,000. State Street Corp raised its stake in Park-Ohio Holdings Corp. by 2.4% in the fourth quarter. State Street Corp now owns 147,016 shares of the industrial products company’s stock worth $6,261,000 after buying an additional 3,498 shares during the last quarter. FMR LLC raised its stake in Park-Ohio Holdings Corp. by 2.3% in the fourth quarter. FMR LLC now owns 68,060 shares of the industrial products company’s stock worth $2,899,000 after buying an additional 1,500 shares during the last quarter. Teachers Advisors LLC raised its stake in Park-Ohio Holdings Corp. by 4.4% in the fourth quarter. Teachers Advisors LLC now owns 13,842 shares of the industrial products company’s stock worth $590,000 after buying an additional 581 shares during the last quarter. Finally, Boston Advisors LLC bought a new stake in Park-Ohio Holdings Corp. during the first quarter worth about $568,000. 55.89% of the stock is currently owned by hedge funds and other institutional investors.
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About Park-Ohio Holdings Corp.
Park-Ohio Holdings Corp. is a diversified international company providing supply chain management outsourcing services, capital equipment used on their production lines and manufactured components used to assemble its products. The Company operates in three segments: Supply Technologies, Assembly Components and Engineered Products.
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