Preformed Line Products (NASDAQ:PLPC) Issues Quarterly Earnings Results

Preformed Line Products (NASDAQ:PLPC) released its quarterly earnings data on Wednesday. The technology company reported $3.56 EPS for the quarter, beating analysts’ consensus estimates of $3.37 by $0.19, FiscalAI reports. The business had revenue of $209.50 million for the quarter, compared to the consensus estimate of $215.00 million. Preformed Line Products had a return on equity of 12.16% and a net margin of 7.58%.

Preformed Line Products Trading Down 5.3%

Preformed Line Products stock traded down $16.90 during trading hours on Friday, hitting $303.11. The company had a trading volume of 56,221 shares, compared to its average volume of 113,453. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.88 and a current ratio of 2.99. The firm has a market cap of $1.48 billion, a P/E ratio of 25.49 and a beta of 0.90. The company has a 50-day moving average price of $394.77 and a two-hundred day moving average price of $341.54. Preformed Line Products has a 1 year low of $184.02 and a 1 year high of $504.69.

Preformed Line Products Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 20th. Stockholders of record on Thursday, October 1st were issued a $0.21 dividend. The ex-dividend date was Thursday, October 1st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Preformed Line Products’s dividend payout ratio is presently 9.46%.

Wall Street Analyst Weigh In

A number of brokerages have commented on PLPC. Freedom Capital upgraded Preformed Line Products from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. Weiss Ratings cut shares of Preformed Line Products from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. Finally, Wall Street Zen upgraded Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Strong Buy” and a consensus target price of $275.00.

Insider Buying and Selling at Preformed Line Products

In other news, Director Glen E. Corlett sold 2,000 shares of Preformed Line Products stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $457.02, for a total value of $914,040.00. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 33.00% of the company’s stock.

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.