Powell Industries, Inc. (NASDAQ:POWL) Posts Earnings Results, Misses Estimates By $0.22 EPS

Powell Industries, Inc. (NASDAQ:POWL) posted its quarterly earnings results on Tuesday, August 8th. The industrial products company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.06) by $0.22, Briefing.com reports. The business had revenue of $85.90 million during the quarter, compared to analysts’ expectations of $104.45 million. Powell Industries had a net margin of 0.27% and a return on equity of 0.71%. The firm’s quarterly revenue was down 35.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.47 EPS.

Shares of Powell Industries (NASDAQ:POWL) opened at 28.05 on Friday. The firm has a 50-day moving average price of $32.18 and a 200 day moving average price of $33.28. The stock has a market cap of $320.56 million, a PE ratio of 275.00 and a beta of 0.83. Powell Industries has a 12-month low of $28.02 and a 12-month high of $47.24.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Wednesday, August 23rd will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend is Monday, August 21st. Powell Industries’s dividend payout ratio (DPR) is 1,040.10%.

Separately, BidaskClub cut Powell Industries from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd.

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Hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its position in shares of Powell Industries by 13.4% in the second quarter. The Manufacturers Life Insurance Company now owns 8,330 shares of the industrial products company’s stock worth $266,000 after buying an additional 983 shares in the last quarter. State Street Corp raised its position in shares of Powell Industries by 8.2% in the second quarter. State Street Corp now owns 261,499 shares of the industrial products company’s stock worth $8,368,000 after buying an additional 19,766 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Powell Industries by 49.5% in the second quarter. Goldman Sachs Group Inc. now owns 49,823 shares of the industrial products company’s stock worth $1,594,000 after buying an additional 16,501 shares in the last quarter. Brandywine Global Investment Management LLC raised its position in shares of Powell Industries by 10.6% in the second quarter. Brandywine Global Investment Management LLC now owns 311,548 shares of the industrial products company’s stock worth $9,967,000 after buying an additional 29,774 shares in the last quarter. Finally, Voya Investment Management LLC raised its position in shares of Powell Industries by 3.7% in the second quarter. Voya Investment Management LLC now owns 21,424 shares of the industrial products company’s stock worth $685,000 after buying an additional 761 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Powell Industries Company Profile

Powell Industries, Inc develops design, manufactures and services custom-engineered equipment and systems for the distribution, control and monitoring of electrical energy designed to distribute, control and monitor the flow of electrical energy, and provide protection to motors, transformers and other electrically powered equipment.

Earnings History for Powell Industries (NASDAQ:POWL)

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