Q4 2023 EPS Estimates for Park-Ohio Holdings Corp. Lowered by Analyst (NASDAQ:PKOH)

Park-Ohio Holdings Corp. (NASDAQ:PKOH – Get Rating) – Analysts at KeyCorp dropped their Q4 2023 EPS estimates for Park-Ohio in a research report issued on Thursday, May 4th. KeyCorp analyst S. Barger now expects that the industrial products company will post earnings of $0.81 per share for the quarter, down from their previous forecast of $0.84. The consensus estimate for Park-Ohio’s current full-year earnings is $2.58 per share. KeyCorp also issued estimates for Park-Ohio’s Q1 2024 earnings at $0.98 EPS, Q2 2024 earnings at $1.02 EPS, Q3 2024 earnings at $1.05 EPS and Q4 2024 earnings at $0.99 EPS.

Separately, StockNews.com began coverage on shares of Park-Ohio in a report on Thursday, March 16th. They issued a “hold” rating on the stock.

Park-Ohio Stock Up 1.8 %

PKOH stock opened at $15.22 on Monday. Park-Ohio has a 52 week low of $9.23 and a 52 week high of $21.36. The company has a market cap of $194.97 million, a P/E ratio of -12.57 and a beta of 1.32. The company has a current ratio of 2.08, a quick ratio of 1.17 and a debt-to-equity ratio of 2.45. The company’s 50-day moving average price is $12.61 and its 200 day moving average price is $12.96.

Park-Ohio (NASDAQ:PKOH – Get Rating) last released its quarterly earnings data on Wednesday, March 15th. The industrial products company reported ($0.09) EPS for the quarter. The company had revenue of $381.60 million for the quarter, compared to analysts’ expectations of $427.10 million. Park-Ohio had a positive return on equity of 5.68% and a negative net margin of 0.86%.

Park-Ohio Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 19th. Stockholders of record on Friday, May 5th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Thursday, May 4th. Park-Ohio’s dividend payout ratio is presently -41.32%.

Hedge Funds Weigh In On Park-Ohio

A number of institutional investors have recently modified their holdings of PKOH. Tower Research Capital LLC TRC increased its position in Park-Ohio by 619.7% during the third quarter. Tower Research Capital LLC TRC now owns 6,405 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 5,515 shares during the last quarter. Goldman Sachs Group Inc. acquired a new position in Park-Ohio during the second quarter worth approximately $161,000. Susquehanna International Group LLP acquired a new position in Park-Ohio during the fourth quarter worth approximately $129,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Park-Ohio during the fourth quarter worth approximately $143,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Park-Ohio during the second quarter worth approximately $204,000. Institutional investors and hedge funds own 47.29% of the company’s stock.

About Park-Ohio

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Park-Ohio Holdings Corp. provides supply chain logistics services and manufactures aluminum products. It operates through the following business segments: Supply Technologies, Assembly Components, and Engineered Products. The Supply Technologies segment provides customers with total supply management services for a broad range of high volume, specialty production components.