Park-Ohio (NASDAQ:PKOH) Issues Earnings Results

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

Park-Ohio Stock Performance

PKOH stock traded up $0.47 during midday trading on Friday, reaching $32.48. The stock had a trading volume of 26,244 shares, compared to its average volume of 27,075. The firm has a fifty day simple moving average of $29.37 and a two-hundred day simple moving average of $27.65. The company has a debt-to-equity ratio of 2.22, a quick ratio of 1.22 and a current ratio of 2.42. The stock has a market cap of $428.02 million, a PE ratio of 25.98 and a beta of 1.16. Park-Ohio has a 52-week low of $22.32 and a 52-week high of $34.50.

Park-Ohio Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date is Friday, November 15th. Park-Ohio’s dividend payout ratio (DPR) is presently 40.00%.

Analyst Upgrades and Downgrades

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

Park-Ohio Company Profile

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.