Perma-Pipe International (PPIH) Expected to Announce Quarterly Earnings on Thursday

Key Points

• Perma-Pipe International is slated to report quarterly results before the market opens on Thursday, April 30, with analysts expecting EPS of $0.44 and revenue of $55.0M; in the last quarter the company beat estimates with $0.60 EPS and $55.13M revenue.
• Shares opened at $29.88 (down ~0.4%), the company has a market cap of $242.7M, a P/E of 14.37, and a 12-month range of $11.22–$36.72, with the stock trading near its 200-day moving average of $29.58.
• About 28.4% of the stock is held by institutions (notable buys from Invesco and Millennium Management), and analysts' consensus is a "Buy" with a $36.00 target despite some recent mixed rating changes.

Perma-Pipe International (NASDAQ:PPIH - Get Free Report) is projected to announce its results before the market opens on Thursday, April 30th. Analysts expect the company to announce earnings of $0.44 per share and revenue of $55.00 million for the quarter.

Perma-Pipe International (NASDAQ:PPIH - Get Free Report) last posted its quarterly earnings results on Thursday, April 16th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.16. The firm had revenue of $55.13 million for the quarter, compared to analysts' expectations of $55.00 million. Perma-Pipe International had a net margin of 8.08% and a return on equity of 20.37%.

Perma-Pipe International Trading Down 0.4%

PPIH opened at $29.88 on Thursday. The stock has a market capitalization of $242.72 million, a PE ratio of 14.37 and a beta of 0.57. The firm's fifty day moving average price is $31.07 and its 200 day moving average price is $29.58. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.84 and a quick ratio of 1.61. Perma-Pipe International has a 12-month low of $11.22 and a 12-month high of $36.72.

Institutional Trading of Perma-Pipe International

A number of institutional investors and hedge funds have recently modified their holdings of the business. Invesco Ltd. acquired a new stake in shares of Perma-Pipe International during the fourth quarter worth $2,914,000. Empowered Funds LLC increased its holdings in shares of Perma-Pipe International by 10.9% in the 4th quarter. Empowered Funds LLC now owns 27,359 shares of the industrial products company's stock worth $831,000 after acquiring an additional 2,682 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of Perma-Pipe International in the 4th quarter worth about $212,000. Millennium Management LLC increased its holdings in shares of Perma-Pipe International by 265.1% in the 4th quarter. Millennium Management LLC now owns 42,780 shares of the industrial products company's stock worth $1,299,000 after acquiring an additional 31,064 shares during the period. Finally, Bridgeway Capital Management LLC increased its holdings in shares of Perma-Pipe International by 4.3% in the 4th quarter. Bridgeway Capital Management LLC now owns 64,769 shares of the industrial products company's stock worth $1,966,000 after acquiring an additional 2,682 shares during the period. 28.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on PPIH shares. Wall Street Zen cut shares of Perma-Pipe International from a "strong-buy" rating to a "hold" rating in a report on Saturday, April 18th. Weiss Ratings raised shares of Perma-Pipe International from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, February 23rd. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Perma-Pipe International has a consensus rating of "Buy" and a consensus target price of $36.00.

About Perma-Pipe International

Perma-Pipe International Holdings Ltd. is a publicly traded company on the NASDAQ under the symbol PPIH that specializes in the design, manufacture and installation of prefabricated piping systems. Its core business revolves around factory-assembled thermal insulation and corrosion protection solutions, including pre-insulated pipe, heat tracing, field-applied jackets and specialty spool pieces. These engineered systems are custom-built to industry specifications and are used to maintain temperatures, control heat loss and extend the life of critical piping infrastructure.

The company's products and services serve a diverse range of end markets, with primary focus on oil and gas production, petrochemical processing, power generation, district energy, and industrial facilities.

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