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

Powell Industries, Inc. (NASDAQ:POWL) announced a quarterly dividend on Tuesday, November 3rd. Investors of record on Wednesday, November 18th will be given a dividend of $0.09 per share by the industrial products company on Wednesday, December 16th. This represents a $0.36 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Wednesday, November 18th.

Powell Industries has a payout ratio of 2.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Powell Industries to earn $6.87 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 5.2%.

Powell Industries Trading Down 12.4%

NASDAQ:POWL opened at $143.10 on Thursday. Powell Industries has a 1 year low of $92.59 and a 1 year high of $328.00. The firm’s fifty day simple moving average is $177.56 and its 200 day simple moving average is $212.25. The firm has a market capitalization of $5.21 billion, a PE ratio of 27.47, a PEG ratio of 1.70 and a beta of 1.25.

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on POWL. Weiss Ratings downgraded Powell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, August 19th. Glj Research raised Powell Industries from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. JPMorgan Chase & Co. cut their price target on Powell Industries from $300.00 to $250.00 and set an “overweight” rating for the company in a report on Tuesday, October 13th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $235.00 price objective on shares of Powell Industries in a research note on Thursday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Powell Industries has an average rating of “Moderate Buy” and an average target price of $187.92.

Powell Industries Company Profile

Powell Industries, Inc is a Houston-based manufacturer of custom-engineered electrical equipment and systems used to control, distribute and monitor electrical power. The company serves industrial and utility customers that require equipment designed for demanding operating environments, including facilities with high-voltage, hazardous or highly regulated applications.

Its product portfolio includes medium- and high-voltage metal-clad switchgear, motor control centers, electrical houses and enclosures, control panels, switchboards, bus systems and related protection and control equipment.