Enpro (NYSE:NPO) Shares Gap Up on Strong Earnings

Key Points

• Enpro shares jumped after the company reported quarterly EPS of $2.66, beating estimates by $0.24, while revenue of $350.8 million exceeded forecasts and increased 22.4% year over year.
• The company declared a quarterly dividend of $0.32 per share, equal to $1.28 annually and a 0.4% yield, with a 62.44% payout ratio.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $358.33; institutional investors own 98.31% of Enpro’s shares.

Enpro Inc. (NYSE:NPO - Get Free Report) shares gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $268.98, but opened at $300.21. Enpro shares last traded at $291.50, with a volume of 12,390 shares traded.

The industrial products company reported $2.66 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.24. Enpro had a return on equity of 11.83% and a net margin of 3.60%. The firm had revenue of $350.80 million for the quarter, compared to the consensus estimate of $334.04 million. During the same period in the previous year, the business earned $1.01 EPS. The firm's revenue for the quarter was up 22.4% on a year-over-year basis.

Enpro Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 16th. Shareholders of record on Wednesday, December 2nd will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, December 2nd. Enpro's dividend payout ratio (DPR) is currently 62.44%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on NPO shares. Weiss Ratings downgraded shares of Enpro from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, August 12th. KeyCorp lifted their target price on shares of Enpro from $345.00 to $370.00 and gave the stock an "overweight" rating in a research note on Monday, July 13th. Zacks Research downgraded shares of Enpro from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 18th. Wall Street Zen downgraded shares of Enpro from a "buy" rating to a "hold" rating in a research report on Sunday, September 6th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Enpro in a research note on Monday, July 20th. They set an "overweight" rating and a $420.00 price target on the stock. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Enpro currently has an average rating of "Moderate Buy" and an average price target of $358.33.

Hedge Funds Weigh In On Enpro

A number of institutional investors have recently bought and sold shares of the business. Kestra Advisory Services LLC boosted its position in Enpro by 13.1% in the 3rd quarter. Kestra Advisory Services LLC now owns 958 shares of the industrial products company's stock worth $294,000 after purchasing an additional 111 shares in the last quarter. Conestoga Capital Advisors LLC grew its stake in shares of Enpro by 92.6% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 152,918 shares of the industrial products company's stock worth $46,833,000 after purchasing an additional 73,528 shares during the period. ProShare Advisors LLC grew its stake in shares of Enpro by 40.9% during the 3rd quarter. ProShare Advisors LLC now owns 32,372 shares of the industrial products company's stock worth $9,914,000 after purchasing an additional 9,404 shares during the period. Vise Technologies Inc. increased its holdings in shares of Enpro by 59.0% during the 3rd quarter. Vise Technologies Inc. now owns 1,390 shares of the industrial products company's stock valued at $426,000 after purchasing an additional 516 shares in the last quarter. Finally, Laurel Wealth Advisors LLC purchased a new position in shares of Enpro during the 3rd quarter valued at approximately $105,000. 98.31% of the stock is owned by hedge funds and other institutional investors.

Enpro Stock Performance

The company has a current ratio of 2.28, a quick ratio of 1.43 and a debt-to-equity ratio of 0.36. The firm's fifty day moving average price is $297.22 and its two-hundred day moving average price is $295.92. The stock has a market capitalization of $6.23 billion, a PE ratio of 143.53, a price-to-earnings-growth ratio of 1.97 and a beta of 1.58.

Enpro Company Profile

Enpro Inc NYSE: NPO is an industrial technology company that designs and manufactures engineered products for demanding applications. Its offerings are used in industries including semiconductor manufacturing, aerospace, power generation, chemical processing, oil and gas, and general industrial markets, where reliability, precision, and resistance to heat, pressure, and corrosive environments are important.

Enpro operates through businesses focused on sealing technologies and advanced surface technologies.

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