Eastern (NASDAQ:EML) Posts Earnings Results, Misses Expectations By $0.29 EPS

Eastern (NASDAQ:EML) posted its quarterly earnings results on Tuesday. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.29), Zacks reports. Eastern had a net margin of 3.44% and a return on equity of 3.38%. The company had revenue of $74.98 million during the quarter, compared to analyst estimates of $78.55 million.

Eastern Stock Performance

Shares of NASDAQ:EML traded up $2.23 on Tuesday, reaching $29.48. 12,515 shares of the company’s stock were exchanged, compared to its average volume of 19,149. The business’s 50-day moving average is $25.56 and its two-hundred day moving average is $22.89. The company has a quick ratio of 1.32, a current ratio of 2.80 and a debt-to-equity ratio of 0.34. Eastern has a fifty-two week low of $17.61 and a fifty-two week high of $29.91. The firm has a market capitalization of $177.47 million, a price-to-earnings ratio of 22.00 and a beta of 0.89.

Eastern Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 16th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, November 16th. Eastern’s dividend payout ratio is 32.84%.

Analysts Set New Price Targets

Several analysts recently weighed in on EML shares. Weiss Ratings reissued a “hold (c)” rating on shares of Eastern in a report on Monday, September 21st. Wall Street Zen raised Eastern from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Two research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

About Eastern

The Eastern Company (NASDAQ: EML) is a diversified manufacturer of engineered products serving industrial, security and transportation markets. The company develops and produces products used in commercial vehicles, industrial equipment, specialty vehicles and other applications where security, access control and engineered components are required. Its product offerings include locks, latches, access hardware and other security-related components, as well as vehicle mirrors and related equipment.