Polypipe Group (PLP) Releases Quarterly Earnings Results, Beats Estimates By $0.40 EPS
Polypipe Group (LON:PLP) issued its quarterly earnings data on Tuesday. The company reported GBX 27.20 ($0.38) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of GBX 26.80 ($0.37) by GBX 0.40 ($0.01), Digital Look Earnings reports. The company had revenue of £4,117 billion for the quarter. Polypipe Group had a net margin of 10.37% and a return on equity of 17.03%.
Shares of Polypipe Group stock traded down GBX 9.40 ($0.13) during trading on Thursday, reaching GBX 360.40 ($4.98). 1,421,599 shares of the company’s stock were exchanged, compared to its average volume of 499,664. The firm has a market capitalization of $812.57 and a P/E ratio of 1,566.96. Polypipe Group has a 12-month low of GBX 327.70 ($4.53) and a 12-month high of GBX 439.50 ($6.07).
PLP has been the topic of several research analyst reports. Numis Securities reissued an “add” rating and issued a GBX 450 ($6.22) price objective on shares of Polypipe Group in a research report on Tuesday. Deutsche Bank restated a “buy” rating on shares of Polypipe Group in a research note on Monday, November 27th. Peel Hunt restated a “buy” rating and issued a GBX 465 ($6.42) price target on shares of Polypipe Group in a research note on Tuesday. Shore Capital restated a “buy” rating on shares of Polypipe Group in a research note on Tuesday. Finally, Barclays began coverage on shares of Polypipe Group in a research note on Monday, November 27th. They issued an “overweight” rating and a GBX 426 ($5.89) price target on the stock. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of GBX 458 ($6.33).
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Polypipe Group plc is a United Kingdom-based manufacturer of plastic piping systems for the residential, commercial, civil and infrastructure sectors. The Company’s segments include Residential Piping Systems, Commercial and Infrastructure Piping Systems (UK), and Commercial and Infrastructure (Mainland Europe).
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