Park-Ohio (PKOH) got here out with quarterly earnings of $0.53 per share, beating the Zacks Consensus Estimate of $0.34 per share. This compares to earnings of $0.13 per share a 12 months in the past. These figures are adjusted for non-recurring objects.
This quarterly report represents an earnings shock of 55.88%. 1 / 4 in the past, it was anticipated that this industrial supply-chain logistics firm would put up earnings of $0.43 per share when it truly produced earnings of $0.53, delivering a shock of 23.26%.
Over the past 4 quarters, the corporate has surpassed consensus EPS estimates thrice.
Park-Ohio, which belongs to the Zacks Steel Merchandise – Fasteners business, posted revenues of $359.6 million for the quarter ended March 2021, surpassing the Zacks Consensus Estimate by 3.54%. This compares to year-ago revenues of $366.Three million. The corporate has topped consensus income estimates thrice during the last 4 quarters.
The sustainability of the inventory’s rapid worth motion based mostly on the recently-released numbers and future earnings expectations will principally rely on administration’s commentary on the earnings name.
Park-Ohio shares have added about 21.5% because the starting of the 12 months versus the S&P 500’s acquire of 11.6%.
What’s Subsequent for Park-Ohio?
Whereas Park-Ohio has outperformed the market to date this 12 months, the query that involves buyers’ minds is: what’s subsequent for the inventory?
There aren’t any straightforward solutions to this key query, however one dependable measure that may assist buyers deal with that is the corporate’s earnings outlook. Not solely does this embody present consensus earnings expectations for the approaching quarter(s), but in addition how these expectations have modified recently.
Empirical analysis exhibits a powerful correlation between near-term inventory actions and traits in earnings estimate revisions. Buyers can observe such revisions by themselves or depend on a tried-and-tested ranking instrument just like the Zacks Rank, which has a powerful observe document of harnessing the ability of earnings estimate revisions.
Forward of this earnings launch, the estimate revisions development for Park-Ohio was combined. Whereas the magnitude and course of estimate revisions may change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #3 (Maintain) for the inventory. So, the shares are anticipated to carry out in step with the market within the close to future. You may see the entire record of at present’s Zacks #1 Rank (Sturdy Purchase) shares right here.
Will probably be attention-grabbing to see how estimates for the approaching quarters and present fiscal 12 months change within the days forward. The present consensus EPS estimate is $0.46 on $351.6 million in revenues for the approaching quarter and $2.12 on $1.43 billion in revenues for the present fiscal 12 months.
Buyers needs to be conscious of the truth that the outlook for the business can have a cloth impression on the efficiency of the inventory as properly. By way of the Zacks Trade Rank, Steel Merchandise – Fasteners is at present within the high 50% of the 250 plus Zacks industries. Our analysis exhibits that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
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ParkOhio Holdings Corp. (PKOH): Free Inventory Evaluation Report
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