Park-Ohio (NASDAQ:PKOH) Releases Earnings Results, Beats Estimates By $0.18 EPS

Park-Ohio (NASDAQ:PKOH) announced its quarterly earnings results on Wednesday. The industrial products company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.18, Zacks reports. The company had revenue of $417.60 million for the quarter. Park-Ohio had a net margin of 1.01% and a return on equity of 15.21%. Park-Ohio updated its FY 2024 guidance to EPS.

Park-Ohio Trading Up 1.5 %

Shares of PKOH stock traded up $0.47 during trading hours on Friday, reaching $32.48. 26,244 shares of the stock were exchanged, compared to its average volume of 27,075. The firm has a market capitalization of $428.02 million, a price-to-earnings ratio of 25.98 and a beta of 1.16. Park-Ohio has a 12-month low of $22.32 and a 12-month high of $34.50. The company’s 50-day moving average price is $29.37 and its 200-day moving average price is $27.65. The company has a current ratio of 2.42, a quick ratio of 1.22 and a debt-to-equity ratio of 2.22.

Park-Ohio Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Friday, November 15th. Park-Ohio’s dividend payout ratio is currently 40.00%.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Park-Ohio from a “hold” rating to a “buy” rating in a report on Thursday, October 10th.

About Park-Ohio

Park-Ohio Holdings Corp. provides supply chain management outsourcing services, capital equipment, and manufactured components in the United States, Europe, Asia, Mexico, Canada, and internationally. It operates through three segments: Supply Technologies, Assembly Components, and Engineered Products.