Park Electrochemical Corp. Reaches New 12-Month High Following Earnings Beat (PKE)
Park Electrochemical Corp. (NYSE:PKE) shares reached a new 52-week high during trading on Wednesday after the company announced better than expected quarterly earnings, American Banking News reports. The company traded as high as $31.00 and last traded at $30.86, with a volume of 130,236 shares. The stock had previously closed at $28.79.
The company reported $0.41 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.34 by $0.07. The company had revenue of $48.82 million for the quarter, compared to the consensus estimate of $49.04 million. During the same quarter last year, the company posted $0.25 earnings per share.
The company also recently declared a quarterly dividend, which is scheduled for Monday, August 4th. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Tuesday, July 1st.
A number of analysts have recently weighed in on PKE shares. Analysts at Needham & Company LLC upgraded shares of Park Electrochemical Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday. They now have a $33.00 price target on the stock. Analysts at TheStreet downgraded shares of Park Electrochemical Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, April 24th.
The stock’s 50-day moving average is $26.97 and its 200-day moving average is $28.02. The company’s market cap is $642.2 million.
Park Electrochemical Corp. (NYSE:PKE), through its subsidiaries, is a global advanced materials company, which develops, manufactures, markets and sells high-technology digital and radio frequency (RF)/microwave printed circuit materials products principally for the telecommunications and Internet infrastructure and high-end computing markets and advanced composite materials, parts and assemblies products principally for the aerospace markets.
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