Preformed Line Products Company Announces Quarterly Dividend of $0.21 (NASDAQ:PLPC)

Key Points

• Preformed Line Products declared a quarterly dividend of $0.21 per share, payable October 20 to shareholders of record October 1. The dividend implies an annualized payout of approximately $0.84 and a 0.2% yield.
• The company’s latest quarterly results exceeded expectations, with EPS of $4.49 versus the $2.41 consensus estimate and revenue of $212.68 million compared with expectations of $193 million.
• PLPC shares opened at $413.03, up 4.1%, while several analysts upgraded the stock to Buy or Strong Buy. However, the reported consensus price target of $275 is below the current share price.

Preformed Line Products Company (NASDAQ:PLPC - Get Free Report) declared a quarterly dividend on Thursday, September 17th. Investors of record on Thursday, October 1st will be paid a dividend of 0.21 per share by the technology company on Tuesday, October 20th. This represents a c) annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Thursday, October 1st.

Preformed Line Products Stock Up 4.1%

PLPC opened at $413.03 on Friday. Preformed Line Products has a fifty-two week low of $184.02 and a fifty-two week high of $504.69. The firm has a market capitalization of $2.02 billion, a P/E ratio of 46.51 and a beta of 0.93. The company's 50-day moving average is $393.31 and its 200 day moving average is $352.39. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.99 and a quick ratio of 1.88.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The technology company reported $4.49 EPS for the quarter, topping analysts' consensus estimates of $2.41 by $2.08. The company had revenue of $212.68 million for the quarter, compared to analysts' expectations of $193.00 million. Preformed Line Products had a net margin of 5.82% and a return on equity of 10.64%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Weiss Ratings raised shares of Preformed Line Products from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, September 4th. Wall Street Zen raised shares of Preformed Line Products from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 1st. Finally, Freedom Capital upgraded shares of Preformed Line Products from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Strong Buy" and a consensus target price of $275.00.

About Preformed Line Products

Preformed Line Products Company NASDAQ: PLPC manufactures products and systems used to construct, maintain and improve overhead and underground networks. Its customers include electric utilities, telecommunications providers, cable operators and other infrastructure companies.

The company's offerings include products for transmission and distribution lines, substation and utility applications, communications networks, broadband and data infrastructure, and renewable-energy installations.

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