Ducommun (NYSE:DCO) Releases Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Ducommun (NYSE:DCO) posted its earnings results on Tuesday. The aerospace company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.07, FiscalAI reports. The company had revenue of $209.02 million during the quarter, compared to analysts’ expectations of $199.61 million. Ducommun had a negative net margin of 4.11% and a positive return on equity of 8.47%. Ducommun’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 earnings per share.

Ducommun Trading Up 0.6%

NYSE:DCO traded up $0.87 during trading hours on Tuesday, hitting $141.55. 40,894 shares of the stock were exchanged, compared to its average volume of 182,482. The company’s 50 day moving average is $132.90 and its two-hundred day moving average is $113.36. Ducommun has a twelve month low of $65.16 and a twelve month high of $148.82. The company has a quick ratio of 2.47, a current ratio of 3.50 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $2.12 billion, a P/E ratio of -61.28 and a beta of 1.06.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. B. Riley Financial reaffirmed a “buy” rating on shares of Ducommun in a report on Wednesday, January 28th. Truist Financial upgraded Ducommun to a “strong-buy” rating in a report on Friday, May 1st. Royal Bank Of Canada raised their target price on Ducommun from $142.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, March 13th. Citigroup reduced their price target on shares of Ducommun from $143.00 to $141.00 and set a “buy” rating on the stock in a research report on Thursday, April 2nd. Finally, Wall Street Zen lowered shares of Ducommun from a “buy” rating to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $144.50.

Insider Activity at Ducommun

In other news, Director Richard A. Baldridge sold 10,440 shares of Ducommun stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $130.83, for a total value of $1,365,865.20. Following the completion of the sale, the director directly owned 20,100 shares of the company’s stock, valued at approximately $2,629,683. This trade represents a 34.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Ducommun

Several hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its position in Ducommun by 14.5% in the first quarter. AQR Capital Management LLC now owns 83,479 shares of the aerospace company’s stock worth $4,844,000 after purchasing an additional 10,574 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Ducommun by 4.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,050 shares of the aerospace company’s stock valued at $467,000 after purchasing an additional 319 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Ducommun by 618.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 345 shares of the aerospace company’s stock worth $29,000 after buying an additional 297 shares during the period. First Trust Advisors LP grew its position in shares of Ducommun by 10.0% during the 2nd quarter. First Trust Advisors LP now owns 5,809 shares of the aerospace company’s stock worth $480,000 after buying an additional 528 shares during the period. Finally, Marshall Wace LLP raised its stake in shares of Ducommun by 7.9% during the second quarter. Marshall Wace LLP now owns 71,545 shares of the aerospace company’s stock worth $5,912,000 after buying an additional 5,212 shares during the last quarter. Institutional investors own 92.15% of the company’s stock.

Ducommun Company Profile

Ducommun Incorporated, through its Electronics and Structures segments, provides engineered products and integrated systems for the global aerospace, defense and space markets. The Electronics segment focuses on high-reliability electronic assemblies, cable and wire harnesses, connector systems and harsh environment electronics for flight-critical applications. In the Structures segment, Ducommun manufactures complex metallic and composite components such as flight control surfaces, skin panels, heat exchangers and other aerostructures for commercial and military platforms.

Founded in 1849 in California as a hardware and stagecoach parts supplier, Ducommun expanded into aerospace manufacturing during World War II and has since grown its capabilities through targeted acquisitions and organic investments.