Powell Industries Receives Buy Rating from DA Davidson (POWL)
Powell Industries (NASDAQ:POWL)‘s stock had its “buy” rating restated by DA Davidson in a research note issued on Thursday. They currently have a $70.00 price target on the stock, down from their previous price target of $80.00. DA Davidson’s price target indicates a potential upside of 33.26% from the stock’s previous close.
The analysts wrote, “Powell Industries reported Q3 EPS of $0.24 from continuing operations compared to $0.76 last year. This was well below our forecast of $0.89 and consensus of $0.77. Margins declined due to headwinds in its Canadian operation as the company ramps production at its new facility, deferring revenue into Q4 and 2015. Additionally, schedule changes on certain U.S. projects led to lower than expected sales.”
Shares of Powell Industries (NASDAQ:POWL) traded down 2.91% during mid-day trading on Thursday, hitting $51.00. 109,718 shares of the company’s stock traded hands. Powell Industries has a 52-week low of $50.00 and a 52-week high of $70.75. The stock has a 50-day moving average of $62.88 and a 200-day moving average of $63.65. The company has a market cap of $612.8 million and a price-to-earnings ratio of 14.23.
Powell Industries (NASDAQ:POWL) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.24 EPS for the quarter, missing the analysts’ 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 last year, the company posted $0.89 earnings per share. Powell Industries’s revenue was down 12.2% compared to the same quarter last year. On average, analysts predict that Powell Industries will post $2.85 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 17th. Shareholders 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 1.90%. The ex-dividend date of this dividend is Monday, August 18th.
A number of other analysts have also recently weighed in on POWL. Analysts at Stifel Nicolaus cut their price target on shares of Powell Industries from $77.00 to $68.00 in a research note on Thursday. They now have a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $64.80.
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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