Analysts Anticipate Park-Ohio Holdings Corp. (NASDAQ:PKOH) Will Post Quarterly Sales of $352.13 Million

Analysts expect Park-Ohio Holdings Corp. (NASDAQ:PKOH) to announce $352.13 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Park-Ohio’s earnings. The lowest sales estimate is $345.00 million and the highest is $360.00 million. Park-Ohio posted sales of $340.20 million in the same quarter last year, which would indicate a positive year over year growth rate of 3.5%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, November 2nd.

On average, analysts expect that Park-Ohio will report full-year sales of $1.42 billion for the current financial year, with estimates ranging from $1.40 billion to $1.43 billion. For the next fiscal year, analysts anticipate that the business will report sales of $1.50 billion, with estimates ranging from $1.47 billion to $1.53 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Park-Ohio.

Park-Ohio (NASDAQ:PKOH) last released its quarterly earnings results on Tuesday, August 3rd. The industrial products company reported ($0.33) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.78). Park-Ohio had a net margin of 0.79% and a return on equity of 4.30%. The company had revenue of $350.00 million for the quarter, compared to the consensus estimate of $352.90 million.

A number of brokerages have issued reports on PKOH. KeyCorp reduced their price objective on shares of Park-Ohio from $43.00 to $34.00 and set an “overweight” rating on the stock in a research note on Thursday, August 5th. Zacks Investment Research cut shares of Park-Ohio from a “hold” rating to a “sell” rating in a research note on Thursday, August 5th. Finally, B. Riley cut their target price on shares of Park-Ohio from $42.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday, August 5th.

Shares of PKOH traded up $0.03 during mid-day trading on Friday, hitting $25.54. 10 shares of the company traded hands, compared to its average volume of 30,542. Park-Ohio has a one year low of $14.66 and a one year high of $41.78. The stock has a market capitalization of $324.20 million, a price-to-earnings ratio of 28.03 and a beta of 1.36. The company has a current ratio of 2.38, a quick ratio of 1.23 and a debt-to-equity ratio of 1.61. The business has a 50-day moving average of $27.57 and a 200 day moving average of $32.53.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 20th. Stockholders of record on Friday, August 6th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend was Thursday, August 5th. Park-Ohio’s dividend payout ratio (DPR) is presently 5,000.00%.

In related news, Director Patrick V. Auletta sold 6,100 shares of Park-Ohio stock in a transaction dated Thursday, June 24th. The shares were sold at an average price of $33.26, for a total transaction of $202,886.00. Following the completion of the sale, the director now owns 14,260 shares of the company’s stock, valued at approximately $474,287.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 32.00% of the company’s stock.

Institutional investors have recently modified their holdings of the business. O Shaughnessy Asset Management LLC raised its stake in Park-Ohio by 26.0% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,830 shares of the industrial products company’s stock worth $121,000 after purchasing an additional 791 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Park-Ohio by 62.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,386 shares of the industrial products company’s stock valued at $138,000 after buying an additional 1,684 shares in the last quarter. Royal Bank of Canada raised its position in shares of Park-Ohio by 7.8% in the 1st quarter. Royal Bank of Canada now owns 4,425 shares of the industrial products company’s stock valued at $140,000 after buying an additional 321 shares in the last quarter. Barclays PLC raised its position in shares of Park-Ohio by 185.3% in the 1st quarter. Barclays PLC now owns 8,039 shares of the industrial products company’s stock valued at $253,000 after buying an additional 5,221 shares in the last quarter. Finally, Millennium Management LLC acquired a new position in shares of Park-Ohio in the 1st quarter valued at approximately $307,000. Institutional investors and hedge funds own 51.83% of the company’s stock.

Park-Ohio Company Profile

Park-Ohio Holdings Corp. provides supply chain logistics services and manufactures aluminum products. It operates through the following business segments: Supply Technologies, Assembly Components, and Engineered Products. The Supply Technologies segment provides customers with total supply management services for a broad range of high volume, specialty production components.

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Earnings History and Estimates for Park-Ohio (NASDAQ:PKOH)

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