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

Park-Ohio (NASDAQ:PKOH) posted 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 firm had revenue of $417.60 million for 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 Stock Performance

NASDAQ:PKOH traded up $0.47 on Friday, hitting $32.48. The company’s stock had a trading volume of 26,244 shares, compared to its average volume of 27,075. Park-Ohio has a one year low of $22.32 and a one year high of $34.50. The firm has a market capitalization of $428.02 million, a P/E ratio of 25.98 and a beta of 1.16. The stock has a fifty day moving average of $29.37 and a two-hundred day moving average of $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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors 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 yield of 1.54%. The ex-dividend date is Friday, November 15th. Park-Ohio’s payout ratio is currently 40.00%.

Wall Street Analyst Weigh In

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.