Park Aerospace (NYSE:PKE) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Key Points

• Park Aerospace beat quarterly earnings estimates, reporting EPS of $0.17 versus analysts’ expectations of $0.14, a surprise of $0.03. The company also posted a return on equity of 10.08% and a net margin of 15.38%.
• The stock rose modestly after the report, trading up $0.08 to $32.52 on Monday. Shares have a 52-week range of $17.25 to $39.86 and were below their 50-day moving average of $34.22.
• Park Aerospace declared a quarterly dividend of $0.125 per share, payable August 3 to shareholders of record on July 1. That equals an annualized dividend of $0.50 and a yield of 1.5%, with a payout ratio of 89.29%.

Park Aerospace (NYSE:PKE - Get Free Report) issued its earnings results on Monday. The semiconductor company reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.03, Zacks reports. Park Aerospace had a return on equity of 10.08% and a net margin of 15.38%.

Park Aerospace Stock Performance

Shares of PKE stock traded up $0.08 on Monday, hitting $32.52. The stock had a trading volume of 255,731 shares, compared to its average volume of 296,961. The firm has a market capitalization of $678.93 million, a price-to-earnings ratio of 58.06 and a beta of 0.39. The stock's 50 day moving average is $34.22 and its 200-day moving average is $29.76. Park Aerospace has a 52-week low of $17.25 and a 52-week high of $39.86.

Park Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Wednesday, July 1st will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Wednesday, July 1st. Park Aerospace's payout ratio is presently 89.29%.

Institutional Investors Weigh In On Park Aerospace

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in Park Aerospace by 1.4% in the 4th quarter. State Street Corp now owns 471,089 shares of the semiconductor company's stock worth $10,053,000 after buying an additional 6,434 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Park Aerospace by 1.7% during the second quarter. Geode Capital Management LLC now owns 439,194 shares of the semiconductor company's stock worth $6,489,000 after acquiring an additional 7,342 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Park Aerospace by 2.6% in the 4th quarter. Wells Fargo & Company MN now owns 240,681 shares of the semiconductor company's stock valued at $5,136,000 after purchasing an additional 6,044 shares in the last quarter. Kennedy Capital Management LLC boosted its stake in shares of Park Aerospace by 28.0% during the 3rd quarter. Kennedy Capital Management LLC now owns 227,935 shares of the semiconductor company's stock valued at $4,636,000 after buying an additional 49,894 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of Park Aerospace by 54.5% during the third quarter. Russell Investments Group Ltd. now owns 138,863 shares of the semiconductor company's stock worth $2,824,000 after buying an additional 49,004 shares in the last quarter. Hedge funds and other institutional investors own 77.83% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on PKE shares. Needham & Company LLC began coverage on shares of Park Aerospace in a report on Monday, July 13th. They issued a "buy" rating and a $43.00 price target on the stock. Wall Street Zen downgraded shares of Park Aerospace from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 14th. Citizens Jmp started coverage on shares of Park Aerospace in a research report on Tuesday, June 9th. They issued a "market outperform" rating and a $42.00 price objective for the company. Citigroup assumed coverage on shares of Park Aerospace in a research report on Tuesday, June 9th. They issued an "outperform" rating for the company. Finally, Weiss Ratings raised shares of Park Aerospace from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, June 1st. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $42.50.

Park Aerospace Company Profile

Park Aerospace NYSE: PKE is a specialized materials and manufacturing company that designs, develops and produces high-performance composite structures, engineered laminates and specialty adhesives for aerospace, defense and industrial markets. Its product portfolio includes advanced honeycomb cores, composite assemblies, dielectric and high-reliability circuit materials, as well as structural and bonding solutions that meet demanding performance and weight requirements.

The company operates through two principal segments.

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