Preformed Line Products (NASDAQ:PLPC) Announces Earnings Results

Key Points

• Preformed Line Products reported quarterly EPS of $2.14, beating the $1.82 consensus, while revenue came in at $176.3 million versus an expected $178.0 million; net margin was 5.27% and ROE 9.36%.
• Despite the earnings beat, shares fell about 5.4% (down $19.21) to $337.29; the company has a market cap of $1.65 billion and a PE ratio of 47.24.
• The company paid a quarterly dividend of $0.21 (annualized $0.84, yield 0.2%), has mixed analyst coverage but an average rating of "Strong Buy" with a $275 average price target, and institutional investors own roughly 41.2% of the stock.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) issued its quarterly earnings results on Wednesday. The technology company reported $2.14 earnings per share for the quarter, beating analysts' consensus estimates of $1.82 by $0.32, FiscalAI reports. The company had revenue of $176.28 million during the quarter, compared to the consensus estimate of $178.00 million. Preformed Line Products had a net margin of 5.27% and a return on equity of 9.36%.

Preformed Line Products Trading Down 5.4%

Shares of Preformed Line Products stock traded down $19.21 during trading on Wednesday, hitting $337.29. The stock had a trading volume of 210,516 shares, compared to its average volume of 146,439. Preformed Line Products has a 1 year low of $130.00 and a 1 year high of $365.60. The stock has a 50 day simple moving average of $282.77 and a 200 day simple moving average of $247.27. The company has a quick ratio of 1.87, a current ratio of 3.17 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $1.65 billion, a PE ratio of 47.24 and a beta of 0.75.

Preformed Line Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 20th. Shareholders of record on Wednesday, April 1st were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Wednesday, April 1st. Preformed Line Products's dividend payout ratio (DPR) is presently 11.76%.

Wall Street Analyst Weigh In

A number of research firms recently commented on PLPC. Freedom Capital upgraded shares of Preformed Line Products from a "hold" rating to a "strong-buy" rating in a report on Monday, March 9th. Wall Street Zen lowered shares of Preformed Line Products from a "buy" rating to a "hold" rating in a research report on Saturday, March 7th. Loop Capital set a $275.00 price target on Preformed Line Products in a report on Monday, March 9th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Preformed Line Products in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to data from MarketBeat.com, Preformed Line Products presently has an average rating of "Strong Buy" and an average price target of $275.00.

Hedge Funds Weigh In On Preformed Line Products

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its position in Preformed Line Products by 22.1% during the 4th quarter. Russell Investments Group Ltd. now owns 260 shares of the technology company's stock worth $54,000 after purchasing an additional 47 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Preformed Line Products by 6.6% in the second quarter. Bank of America Corp DE now owns 1,609 shares of the technology company's stock valued at $257,000 after purchasing an additional 100 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in shares of Preformed Line Products by 3.5% in the second quarter. Quantinno Capital Management LP now owns 3,823 shares of the technology company's stock valued at $611,000 after purchasing an additional 128 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Preformed Line Products by 132.4% in the fourth quarter. Royal Bank of Canada now owns 251 shares of the technology company's stock worth $52,000 after buying an additional 143 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Preformed Line Products by 12.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,437 shares of the technology company's stock valued at $298,000 after buying an additional 160 shares in the last quarter. Institutional investors and hedge funds own 41.19% of the company's stock.

About Preformed Line Products

Preformed Line Products Company NASDAQ: PLPC is a global manufacturer of engineered solutions for electric, telecommunications and industrial infrastructure networks. The company designs, engineers and produces a broad portfolio of products, including preformed wire and cable fittings, anchors, suspension and tension clamps, splice closures and optical fiber hardware. These durable components support the installation, repair and maintenance of overhead and underground systems, helping utilities and contractors manage reliability and safety in demanding environments.

Founded in 1947 and headquartered in Mayfield Village, Ohio, Preformed Line Products operates manufacturing facilities and distribution centers across North America, Europe and the Asia Pacific region.

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