Park-Ohio Holdings Corp. (PKOH) Expected to Announce Quarterly Sales of $348.77 Million
Equities research analysts forecast that Park-Ohio Holdings Corp. (NASDAQ:PKOH) will announce $348.77 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Park-Ohio Holdings Corp.’s earnings, with the lowest sales estimate coming in at $346.80 million and the highest estimate coming in at $351.70 million. Park-Ohio Holdings Corp. posted sales of $312.70 million during the same quarter last year, which indicates a positive year over year growth rate of 11.5%. The firm is expected to issue its next earnings results on Monday, November 6th.
On average, analysts expect that Park-Ohio Holdings Corp. will report full year sales of $348.77 million for the current fiscal year, with estimates ranging from $1.38 billion to $1.40 billion. For the next fiscal year, analysts forecast that the firm will post sales of $1.45 billion per share, with estimates ranging from $1.44 billion to $1.47 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Park-Ohio Holdings Corp..
Park-Ohio Holdings Corp. (NASDAQ:PKOH) last issued its quarterly earnings data on Monday, August 7th. The industrial products company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The firm had revenue of $350.90 million during the quarter, compared to analysts’ expectations of $355.83 million. Park-Ohio Holdings Corp. had a return on equity of 16.90% and a net margin of 2.50%.
A number of research firms recently issued reports on PKOH. BidaskClub upgraded Park-Ohio Holdings Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Zacks Investment Research downgraded Park-Ohio Holdings Corp. from a “buy” rating to a “hold” rating in a report on Friday, August 18th. Finally, ValuEngine raised Park-Ohio Holdings Corp. from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 6th. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $44.00.
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In other Park-Ohio Holdings Corp. news, COO Matthew V. Crawford sold 4,192 shares of Park-Ohio Holdings Corp. stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $40.21, for a total transaction of $168,560.32. Following the completion of the sale, the chief operating officer now directly owns 1,016,145 shares of the company’s stock, valued at approximately $40,859,190.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James W. Wert sold 2,500 shares of Park-Ohio Holdings Corp. stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $40.80, for a total value of $102,000.00. Following the sale, the director now directly owns 81,695 shares of the company’s stock, valued at $3,333,156. The disclosure for this sale can be found here. Insiders have sold a total of 26,162 shares of company stock valued at $1,041,861 over the last ninety days. 31.00% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company lifted its holdings in Park-Ohio Holdings Corp. by 6.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,473 shares of the industrial products company’s stock worth $285,000 after buying an additional 452 shares during the last quarter. Cornerstone Capital Management Holdings LLC. purchased a new stake in Park-Ohio Holdings Corp. during the 2nd quarter worth about $197,000. Royal Bank of Canada lifted its holdings in Park-Ohio Holdings Corp. by 0.7% during the 2nd quarter. Royal Bank of Canada now owns 5,663 shares of the industrial products company’s stock worth $216,000 after buying an additional 37 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Park-Ohio Holdings Corp. by 8.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 717,368 shares of the industrial products company’s stock worth $27,332,000 after buying an additional 55,315 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Park-Ohio Holdings Corp. by 3.8% during the 2nd quarter. Vanguard Group Inc. now owns 380,717 shares of the industrial products company’s stock worth $14,506,000 after buying an additional 13,983 shares during the last quarter. 55.12% of the stock is owned by institutional investors.
Shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) traded up 0.37% on Friday, reaching $40.40. The company had a trading volume of 44,422 shares. The company has a market capitalization of $492.84 million, a P/E ratio of 15.29 and a beta of 3.42. The company has a 50 day moving average of $39.76 and a 200-day moving average of $38.34. Park-Ohio Holdings Corp. has a 52 week low of $30.01 and a 52 week high of $47.00.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 11th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend was Wednesday, August 9th. Park-Ohio Holdings Corp.’s dividend payout ratio (DPR) is 18.80%.
Park-Ohio Holdings Corp. Company Profile
Park-Ohio Holdings Corp. is a diversified international company providing supply chain management outsourcing services, capital equipment used on their production lines and manufactured components used to assemble its products. The Company operates in three segments: Supply Technologies, Assembly Components and Engineered Products.
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