Eastern (NASDAQ:EML) Announces Earnings Results

Eastern (NASDAQ:EML) posted its quarterly earnings results on Tuesday. The industrial products company reported $0.42 earnings per share for the quarter, Zacks reports. Eastern had a negative net margin of 2.26% and a positive return on equity of 10.44%. The firm had revenue of $66.70 million for the quarter.

Eastern Stock Down 1.6 %

EML opened at $27.05 on Thursday. The firm’s 50-day simple moving average is $27.37 and its 200-day simple moving average is $29.11. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.42 and a current ratio of 2.64. Eastern has a twelve month low of $23.15 and a twelve month high of $35.78. The firm has a market cap of $167.25 million, a price-to-earnings ratio of -26.26 and a beta of 0.97.

Eastern Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend is Friday, February 14th. Eastern’s payout ratio is -42.72%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Eastern from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 19th.

Eastern Company Profile

The Eastern Company designs, manufactures, and sells engineered solutions to industrial markets in the United States and internationally. The company offers turnkey returnable packaging solutions, which are used in the assembly processes of vehicles, aircraft, and durable goods, as well as in production processes of plastic packaging products, packaged consumer goods, and pharmaceuticals; designs and manufactures blow mold tools and injection blow mold tooling products, and 2-step stretch blow molds and related components for the stretch blow molding industry; and supplies blow molds and change parts to the food, beverage, healthcare, and chemical industries.