Omega Flex (NASDAQ:OFLX) Announces Earnings Results

Key Points

• Omega Flex reported quarterly EPS of $0.23, with a 14.26% return on equity and a 12.27% net margin.
• Shares rose 3.1% to $24.96, but remain well below the 52-week high of $37.92; the company has a market capitalization of approximately $252 million.
• The company paid a quarterly dividend of $0.34, equivalent to $1.36 annually and a 5.4% yield. Analysts maintain a consensus “Sell” rating, while the payout ratio stands at 114.29%.

Omega Flex (NASDAQ:OFLX - Get Free Report) released its earnings results on Wednesday. The industrial products company reported $0.23 EPS for the quarter, Zacks reports. Omega Flex had a return on equity of 14.26% and a net margin of 12.27%.

Omega Flex Trading Up 3.1%

Shares of NASDAQ:OFLX traded up $0.76 during trading on Wednesday, hitting $24.96. 52,965 shares of the company's stock traded hands, compared to its average volume of 42,228. Omega Flex has a 52 week low of $23.99 and a 52 week high of $37.92. The company has a market cap of $251.95 million, a price-to-earnings ratio of 20.97 and a beta of 0.44. The company has a 50-day moving average price of $26.06 and a 200-day moving average price of $30.23.

Omega Flex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 14th. Shareholders of record on Wednesday, September 30th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend was Wednesday, September 30th. Omega Flex's payout ratio is presently 114.29%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a "sell (d+)" rating on shares of Omega Flex in a research report on Tuesday. One analyst has rated the stock with a Sell rating. According to MarketBeat, the company currently has a consensus rating of "Sell".

About Omega Flex

Omega Flex, Inc manufactures and markets flexible metal hose and piping systems used to transport fuel gases and other gases. Its products are designed for residential, commercial, industrial, and specialized applications, providing an alternative to traditional rigid piping systems.

The company's product portfolio includes corrugated stainless steel tubing systems such as TracPipe and CounterStrike for natural gas and propane distribution. Omega Flex also offers products for applications including outdoor gas piping, medical gas systems, and other specialized fluid or gas-handling needs.

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