KeyCorp Equities Analysts Cut Earnings Estimates for Park-Ohio Holdings Corp. (PKOH)
Park-Ohio Holdings Corp. (NASDAQ:PKOH) – Stock analysts at KeyCorp reduced their Q4 2017 earnings estimates for Park-Ohio Holdings Corp. in a research note issued on Tuesday. KeyCorp analyst S. Barger now expects that the industrial products company will post earnings per share of $0.79 for the quarter, down from their previous estimate of $0.81. KeyCorp also issued estimates for Park-Ohio Holdings Corp.’s Q1 2018 earnings at $0.87 EPS, Q2 2018 earnings at $1.00 EPS, Q3 2018 earnings at $1.02 EPS and FY2018 earnings at $3.80 EPS.
Park-Ohio Holdings Corp. (NASDAQ:PKOH) last issued its quarterly earnings results on Monday, August 7th. The industrial products company reported $0.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.02. Park-Ohio Holdings Corp. had a return on equity of 17.18% and a net margin of 2.50%. The company had revenue of $350.90 million for the quarter, compared to the consensus estimate of $355.83 million. TRADEMARK VIOLATION WARNING: This report was first posted by Daily Political and is the property of of Daily Political. If you are reading this report on another publication, it was illegally copied and reposted in violation of international trademark and copyright law. The original version of this report can be read at https://www.dailypolitical.com/2017/08/10/keycorp-equities-analysts-cut-earnings-estimates-for-park-ohio-holdings-corp-pkoh.html.
A number of other brokerages have also issued reports on PKOH. Zacks Investment Research raised Park-Ohio Holdings Corp. from a “sell” rating to a “hold” rating in a research report on Saturday, May 13th. FBR & Co lifted their target price on Park-Ohio Holdings Corp. from $33.00 to $37.00 and gave the stock a “mkt perform” rating in a research report on Wednesday. BidaskClub lowered Park-Ohio Holdings Corp. from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, TheStreet raised Park-Ohio Holdings Corp. from a “c” rating to a “b-” rating in a report on Monday, May 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. Park-Ohio Holdings Corp. has an average rating of “Hold” and a consensus target price of $46.75.
Shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) traded down 0.63% during midday trading on Thursday, reaching $39.20. The company’s stock had a trading volume of 2,774 shares. The firm’s 50 day moving average is $39.01 and its 200 day moving average is $39.10. Park-Ohio Holdings Corp. has a 52 week low of $30.01 and a 52 week high of $47.00. The firm has a market capitalization of $478.20 million, a price-to-earnings ratio of 14.84 and a beta of 3.47.
Hedge funds have recently made changes to their positions in the stock. Teton Advisors Inc. raised its stake in shares of Park-Ohio Holdings Corp. by 1.1% in the first quarter. Teton Advisors Inc. now owns 171,400 shares of the industrial products company’s stock valued at $6,162,000 after buying an additional 1,900 shares in the last quarter. New Amsterdam Partners LLC NY purchased a new stake in shares of Park-Ohio Holdings Corp. during the first quarter valued at $2,107,000. Bank of New York Mellon Corp raised its stake in shares of Park-Ohio Holdings Corp. by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 74,799 shares of the industrial products company’s stock valued at $2,689,000 after buying an additional 2,164 shares in the last quarter. Wedge Capital Management L L P NC raised its stake in shares of Park-Ohio Holdings Corp. by 3.8% in the first quarter. Wedge Capital Management L L P NC now owns 5,558 shares of the industrial products company’s stock valued at $200,000 after buying an additional 202 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Park-Ohio Holdings Corp. by 31.7% in the first quarter. Russell Investments Group Ltd. now owns 4,981 shares of the industrial products company’s stock valued at $180,000 after buying an additional 1,200 shares in the last quarter. 55.89% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Patrick V. Auletta sold 2,010 shares of the business’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $38.55, for a total value of $77,485.50. Following the completion of the sale, the director now directly owns 18,645 shares of the company’s stock, valued at $718,764.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 31.00% of the stock is owned by insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Friday, August 11th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend is Wednesday, August 9th. Park-Ohio Holdings Corp.’s dividend payout ratio is currently 18.80%.
Park-Ohio Holdings Corp. Company Profile
Park-Ohio Holdings Corp. is a diversified international company providing supply chain management outsourcing services, capital equipment used on their production lines and manufactured components used to assemble its products. The Company operates in three segments: Supply Technologies, Assembly Components and Engineered Products.
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