$141.37 Million in Sales Expected for Ducommun Incorporated (DCO) This Quarter
Wall Street brokerages expect that Ducommun Incorporated (NYSE:DCO) will announce sales of $141.37 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Ducommun’s earnings, with estimates ranging from $140.74 million to $142.00 million. Ducommun reported sales of $132.57 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.6%. The business is expected to announce its next earnings results before the market opens on Thursday, November 2nd.
On average, analysts expect that Ducommun will report full-year sales of $141.37 million for the current financial year, with estimates ranging from $563.24 million to $563.31 million. For the next financial year, analysts forecast that the company will report sales of $582.98 million per share, with estimates ranging from $574.95 million to $591.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Ducommun.
Ducommun (NYSE:DCO) last issued its earnings results on Thursday, August 3rd. The aerospace company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. Ducommun had a net margin of 2.50% and a return on equity of 7.49%. The company had revenue of $140.90 million for the quarter, compared to the consensus estimate of $138.39 million. During the same period in the previous year, the firm earned $0.34 earnings per share. Ducommun’s quarterly revenue was up 5.6% compared to the same quarter last year.
Several research firms recently commented on DCO. B. Riley set a $40.00 price target on shares of Ducommun and gave the company a “buy” rating in a report on Monday. Canaccord Genuity raised their price target on shares of Ducommun from $35.00 to $36.00 and gave the company a “buy” rating in a report on Friday, August 4th. Sidoti lowered shares of Ducommun from a “buy” rating to a “neutral” rating in a report on Tuesday, October 17th. Zacks Investment Research lowered shares of Ducommun from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, ValuEngine lowered shares of Ducommun from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $36.25.
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In other news, Director Anthony J. Reardon sold 11,908 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $30.11, for a total transaction of $358,549.88. Following the completion of the sale, the director now owns 103,546 shares of the company’s stock, valued at $3,117,770.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Anthony J. Reardon sold 7,726 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $27.66, for a total transaction of $213,701.16. Following the sale, the director now directly owns 123,523 shares of the company’s stock, valued at approximately $3,416,646.18. The disclosure for this sale can be found here. Insiders have sold 42,701 shares of company stock valued at $1,237,582 in the last three months. Corporate insiders own 8.20% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its position in shares of Ducommun by 169.8% during the second quarter. Tower Research Capital LLC TRC now owns 3,400 shares of the aerospace company’s stock worth $107,000 after buying an additional 2,140 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Ducommun by 15.5% in the first quarter. Envestnet Asset Management Inc. now owns 3,627 shares of the aerospace company’s stock worth $104,000 after purchasing an additional 488 shares during the period. American International Group Inc. boosted its holdings in Ducommun by 7.1% in the first quarter. American International Group Inc. now owns 6,398 shares of the aerospace company’s stock worth $184,000 after purchasing an additional 422 shares during the period. Alliancebernstein L.P. acquired a new position in Ducommun in the second quarter worth $221,000. Finally, First Trust Advisors LP acquired a new position in Ducommun in the third quarter worth $261,000. 79.84% of the stock is owned by institutional investors and hedge funds.
Ducommun (NYSE DCO) opened at 34.02 on Monday. Ducommun has a 52 week low of $18.70 and a 52 week high of $35.58. The stock has a market capitalization of $385.07 million, a P/E ratio of 28.30 and a beta of 0.86. The firm’s 50-day moving average is $32.35 and its 200-day moving average is $31.02.
Ducommun Company Profile
Ducommun Incorporated is a global provider of engineering and manufacturing services for various products and failure applications used primarily in the aerospace, defense, industrial, natural resources, medical and other industries. The Company is a solution-based provider, offering a range of value-added products and services in its primary businesses of electronics, structures and integrated solutions.
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