Powell Industries Hits New 12-Month Low Following Weak Earnings (POWL)
Shares of Powell Industries (NASDAQ:POWL) hit a new 52-week low during mid-day trading on Wednesday following a weaker than expected earnings announcement, Stock Ratings News reports. The stock traded as low as $50.00 and last traded at $52.51, with a volume of 182,942 shares traded. The stock had previously closed at $55.48.
The company reported $0.24 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.88 by $0.64. The company had revenue of $150.80 million for the quarter, compared to the consensus estimate of $191.16 million. During the same quarter in the prior year, the company posted $0.89 earnings per share. The company’s quarterly revenue was down 12.2% on a year-over-year basis.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 17th. Investors of record on Wednesday, August 20th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Monday, August 18th.
A number of analysts have recently weighed in on POWL shares. Analysts at Stifel Nicolaus raised their price target on shares of Powell Industries from $75.00 to $77.00 in a research note on Tuesday, June 24th. They now have a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $69.55.
The stock’s 50-day moving average is $63.1 and its 200-day moving average is $63.73. The company has a market cap of $630.1 million and a P/E ratio of 12.89.
Powell Industries, Inc (NASDAQ:POWL) develops, designs, manufactures and service custom engineered-to-order equipment and systems for the management and control of electrical energy and other critical processes.
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