Preformed Line Products (NASDAQ:PLPC) Issues Earnings Results, Beats Estimates By $0.19 EPS

Preformed Line Products (NASDAQ:PLPC) posted its quarterly earnings results on Wednesday. The technology company reported $3.56 earnings per share for the quarter, topping the consensus estimate of $3.37 by $0.19, FiscalAI reports. The business had revenue of $209.50 million during the quarter, compared to the consensus estimate of $215.00 million. Preformed Line Products had a net margin of 5.82% and a return on equity of 10.64%.

Preformed Line Products Trading Down 0.2%

Preformed Line Products stock traded down $0.61 during trading hours on Wednesday, reaching $348.81. The stock had a trading volume of 106,925 shares, compared to its average volume of 113,514. The stock has a market cap of $1.71 billion, a PE ratio of 39.28 and a beta of 0.90. Preformed Line Products has a 52 week low of $184.02 and a 52 week high of $504.69. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.99 and a quick ratio of 1.88. The company has a fifty day simple moving average of $398.98 and a 200-day simple moving average of $340.54.

Preformed Line Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 20th. Shareholders of record on Thursday, October 1st were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Thursday, October 1st. Preformed Line Products’s dividend payout ratio (DPR) is 9.46%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PLPC shares. Weiss Ratings cut Preformed Line Products from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday. Wall Street Zen upgraded Preformed Line Products from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. Finally, Freedom Capital raised Preformed Line Products from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. According to data from MarketBeat.com, Preformed Line Products has an average rating of “Strong Buy” and an average price target of $275.00.

Insider Activity

In other Preformed Line Products news, Director Glen E. Corlett sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $457.02, for a total transaction of $914,040.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 33.00% of the stock is owned by insiders.

About Preformed Line Products

Preformed Line Products Company (NASDAQ: PLPC) designs and manufactures products and systems used to construct, maintain and protect overhead and underground networks. The company serves the telecommunications, energy, data communications, cable television, renewable energy and transportation markets.

Its product portfolio includes formed-wire products, fiber-optic cable hardware, connectors, splicing and closure systems, protective devices, enclosures and other network-infrastructure components.