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

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

Park-Ohio Trading Up 1.5 %

NASDAQ:PKOH traded up $0.47 during mid-day trading on Friday, reaching $32.48. 26,244 shares of the company’s stock traded hands, compared to its average volume of 27,075. Park-Ohio has a 12-month low of $22.32 and a 12-month high of $34.50. The company has a debt-to-equity ratio of 2.22, a current ratio of 2.42 and a quick ratio of 1.22. The company has a 50 day moving average price of $29.37 and a 200-day moving average price of $27.65. 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 Announces Dividend

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

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Park-Ohio from a “hold” rating to a “buy” rating in a research note 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.