Eastern (NASDAQ:EML) Releases Quarterly Earnings Results

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

Eastern Price Performance

Shares of EML traded down $0.18 during mid-day trading on Tuesday, hitting $27.50. 7,050 shares of the company traded hands, compared to its average volume of 8,595. The company has a current ratio of 2.64, a quick ratio of 1.42 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $170.03 million, a price-to-earnings ratio of -26.70 and a beta of 0.97. The business has a 50-day moving average of $27.34 and a 200 day moving average of $29.15. Eastern has a one year low of $23.15 and a one year high of $35.78.

Eastern Dividend Announcement

The firm 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 dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Friday, February 14th. Eastern’s payout ratio is presently -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 report on Wednesday, February 19th.

About Eastern

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.