Taylor Devices (NASDAQ:TAYD) Releases Earnings Results, Misses Estimates By $0.28 EPS

Key Points

• Taylor Devices reported quarterly EPS of $0.50, missing analysts’ consensus estimate of $0.78 by $0.28. Revenue was $8.95 million, well below expectations of $12.80 million.
• The stock opened at $55.35, with a market capitalization of approximately $178.2 million; shares have traded between $40.50 and $90.37 over the past year.
• Analyst sentiment remains cautious, with a consensus “Hold” rating. Institutional investors own 17.62% of the company, while several funds recently increased their positions.

Taylor Devices (NASDAQ:TAYD - Get Free Report) issued its quarterly earnings results on Tuesday. The industrial products company reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.28), FiscalAI reports. Taylor Devices had a return on equity of 15.77% and a net margin of 21.52%.The business had revenue of $8.95 million for the quarter, compared to analysts' expectations of $12.80 million.

Taylor Devices Stock Performance

TAYD stock opened at $55.35 on Tuesday. The company's fifty day moving average price is $55.29 and its 200-day moving average price is $62.31. The company has a market capitalization of $178.23 million, a PE ratio of 16.77 and a beta of 0.94. Taylor Devices has a one year low of $40.50 and a one year high of $90.37.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on TAYD shares. Weiss Ratings upgraded Taylor Devices from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, August 5th. Wall Street Zen cut shares of Taylor Devices from a "buy" rating to a "hold" rating in a report on Monday, August 3rd. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold".

Hedge Funds Weigh In On Taylor Devices

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Taylor Devices by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 151,867 shares of the industrial products company's stock worth $7,451,000 after purchasing an additional 3,121 shares during the period. Ameriprise Financial Inc. bought a new stake in shares of Taylor Devices during the second quarter worth about $4,361,000. Dimensional Fund Advisors LP increased its position in shares of Taylor Devices by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 69,543 shares of the industrial products company's stock valued at $4,067,000 after buying an additional 217 shares during the period. Punch & Associates Investment Management Inc. grew its holdings in Taylor Devices by 2.6% during the 3rd quarter. Punch & Associates Investment Management Inc. now owns 51,325 shares of the industrial products company's stock valued at $2,518,000 after buying an additional 1,325 shares in the last quarter. Finally, Martin & Co. Inc. TN grew its holdings in Taylor Devices by 64.8% during the fourth quarter. Martin & Co. Inc. TN now owns 45,382 shares of the industrial products company's stock worth $2,653,000 after acquiring an additional 17,846 shares during the period. 17.62% of the stock is currently owned by hedge funds and other institutional investors.

Taylor Devices Company Profile

Taylor Devices, Inc is an engineering firm headquartered in North Tonawanda, New York, specializing in the design, development and manufacture of motion control products and engineered fluid-handling devices. The company's core focus is on providing high-performance hydraulic dampers, fluid springs (also known as gas springs), shock absorbers and hydraulic accumulators that are used to manage energy and motion in a wide range of industrial and structural applications.

The company's product portfolio includes industrial shock absorbers designed to cushion and decelerate moving parts in manufacturing and test-and-measurement systems, fluid viscous dampers for seismic protection of buildings and bridges, and fluid spring devices that combine the properties of a gas spring and a hydraulic damper.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source