Powell Industries (POWL) Releases Quarterly Earnings Results, Beats Expectations By $0.33 EPS

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Powell Industries (NASDAQ:POWL) released its quarterly earnings data on Tuesday. The industrial products company reported $0.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.25) by $0.33, Briefing.com reports. The business had revenue of $123.70 million during the quarter, compared to analysts’ expectations of $100.15 million. Powell Industries had a negative net margin of 0.89% and a negative return on equity of 1.19%. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.29) EPS.

POWL traded up $4.26 on Wednesday, reaching $34.54. The company had a trading volume of 97,083 shares, compared to its average volume of 30,240. Powell Industries has a 1 year low of $22.55 and a 1 year high of $41.42.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd will be given a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $1.04 dividend on an annualized basis and a yield of 3.01%.

Separately, BidaskClub raised shares of Powell Industries from a “strong sell” rating to a “sell” rating in a research report on Wednesday, February 20th.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its position in Powell Industries by 3.1% in the fourth quarter. BlackRock Inc. now owns 1,279,118 shares of the industrial products company’s stock valued at $31,988,000 after acquiring an additional 38,432 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Powell Industries by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 956,575 shares of the industrial products company’s stock valued at $23,924,000 after acquiring an additional 4,396 shares during the last quarter. Deprince Race & Zollo Inc. lifted its position in Powell Industries by 27.3% in the fourth quarter. Deprince Race & Zollo Inc. now owns 613,716 shares of the industrial products company’s stock valued at $15,349,000 after acquiring an additional 131,548 shares during the last quarter. Vanguard Group Inc lifted its position in Powell Industries by 0.5% in the third quarter. Vanguard Group Inc now owns 557,703 shares of the industrial products company’s stock valued at $20,222,000 after acquiring an additional 2,637 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Powell Industries by 0.5% in the third quarter. Vanguard Group Inc. now owns 557,703 shares of the industrial products company’s stock valued at $20,222,000 after acquiring an additional 2,637 shares during the last quarter. 59.35% of the stock is owned by hedge funds and other institutional investors.

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Powell Industries Company Profile

Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems for the distribution, control, and monitoring of electrical energy. The company's principal products include integrated power control room substations, custom-engineered modules, electrical houses, medium-voltage circuit breakers, monitoring and control communications systems, motor control centers, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.

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Earnings History for Powell Industries (NASDAQ:POWL)

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