Powell Industries (NASDAQ:POWL) Issues Earnings Results, Beats Expectations By $0.24 EPS

Powell Industries (NASDAQ:POWL) issued its quarterly earnings results on Tuesday. The industrial products company reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.24, Bloomberg Earnings reports. The business had revenue of $135.60 million for the quarter, compared to the consensus estimate of $132.31 million. Powell Industries had a return on equity of 0.24% and a net margin of 0.02%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.03 earnings per share.

Shares of POWL stock traded up $0.03 during trading hours on Tuesday, reaching $34.68. The company’s stock had a trading volume of 47,165 shares, compared to its average volume of 34,763. The company’s 50 day moving average is $36.94. The firm has a market capitalization of $420.51 million, a P/E ratio of 606.67 and a beta of 1.21. Powell Industries has a fifty-two week low of $22.55 and a fifty-two week high of $41.42.

Hedge funds have recently modified their holdings of the business. Advisory Services Network LLC acquired a new stake in shares of Powell Industries in the 4th quarter valued at $40,000. BNP Paribas Arbitrage SA boosted its holdings in shares of Powell Industries by 346.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,851 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 1,436 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Powell Industries in the 1st quarter valued at $57,000. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Powell Industries in the 4th quarter valued at $62,000. Finally, KBC Group NV acquired a new stake in shares of Powell Industries during the 2nd quarter valued at $106,000. 64.13% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages recently issued reports on POWL. CJS Securities raised Powell Industries from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 9th. BidaskClub raised Powell Industries from a “sell” rating to a “hold” rating in a report on Friday, July 26th.

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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