Park Aerospace (NYSE:PKE) Posts Earnings Results, Beats Expectations By $0.05 EPS

Key Points

• Park Aerospace exceeded quarterly expectations, reporting EPS of $0.21 versus the $0.16 consensus and revenue of $20.79 million compared with estimates of $20.01 million.
• The company declared a quarterly dividend of $0.125 per share, equating to $0.50 annually and a 1.7% yield.
• Analyst sentiment remains positive overall, with an average “Moderate Buy” rating and a $42.50 price target, though some firms recently downgraded the stock to “Hold.”

Park Aerospace (NYSE:PKE - Get Free Report) released its quarterly earnings data on Thursday. The semiconductor company reported $0.21 earnings per share for the quarter, topping analysts' consensus estimates of $0.16 by $0.05, FiscalAI reports. Park Aerospace had a net margin of 16.70% and a return on equity of 10.75%. The firm had revenue of $20.79 million for the quarter, compared to analyst estimates of $20.01 million.

Park Aerospace Stock Up 2.0%

Shares of Park Aerospace stock traded up $0.58 on Thursday, reaching $29.84. The company's stock had a trading volume of 800,233 shares, compared to its average volume of 287,975. The company has a market capitalization of $648.93 million, a P/E ratio of 47.36 and a beta of 0.39. The stock has a 50-day moving average price of $32.77 and a 200-day moving average price of $32.98. Park Aerospace has a 52-week low of $18.25 and a 52-week high of $39.86.

Park Aerospace Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 4th. Stockholders of record on Thursday, October 1st will be given a $0.1250 dividend. The ex-dividend date is Thursday, October 1st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.7%. Park Aerospace's payout ratio is 79.37%.

Insider Activity

In related news, insider Constantine Petropoulos sold 2,500 shares of Park Aerospace stock in a transaction on Monday, July 27th. The shares were sold at an average price of $36.00, for a total value of $90,000.00. Following the sale, the insider owned 2,500 shares of the company's stock, valued at approximately $90,000. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PKE has been the topic of several recent research reports. Citigroup reaffirmed a "market outperform" rating on shares of Park Aerospace in a report on Tuesday, July 21st. Wall Street Zen lowered Park Aerospace from a "buy" rating to a "hold" rating in a research note on Saturday, August 22nd. Needham & Company LLC reissued a "buy" rating and issued a $43.00 price objective on shares of Park Aerospace in a report on Tuesday, July 21st. Finally, Weiss Ratings downgraded Park Aerospace from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $42.50.

Park Aerospace Company Profile

Park Aerospace Corp. NYSE: PKE is an aerospace manufacturing company that develops and produces advanced composite materials and composite structures. Its products are used in the manufacture of aircraft and other aerospace systems, where lightweight, high-strength materials are important for performance and fuel efficiency.

The company's offerings include carbon fiber and other composite materials, prepregs, film adhesives, honeycomb and other core materials, and fabricated composite parts.

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