Twin Disc (NASDAQ:TWIN) Releases Earnings Results, Beats Expectations By $0.41 EPS

Twin Disc (NASDAQ:TWIN) announced its quarterly earnings data on Thursday. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.41, FiscalAI reports. The company had revenue of $114.40 million for the quarter, compared to analysts’ expectations of $100.35 million. Twin Disc had a return on equity of 2.77% and a net margin of 7.32%.

Twin Disc Trading Down 4.8%

Shares of TWIN opened at $22.54 on Thursday. The firm’s fifty day moving average is $22.80 and its two-hundred day moving average is $19.08. The stock has a market cap of $325.02 million, a PE ratio of 12.39 and a beta of 0.64. The company has a quick ratio of 0.81, a current ratio of 2.09 and a debt-to-equity ratio of 0.23. Twin Disc has a 52-week low of $8.50 and a 52-week high of $25.50.

Twin Disc Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, August 18th. This is an increase from Twin Disc’s previous quarterly dividend of $0.04. Twin Disc’s payout ratio is 10.87%.

Institutional Trading of Twin Disc

A number of hedge funds and other institutional investors have recently modified their holdings of TWIN. Global Retirement Partners LLC purchased a new stake in Twin Disc in the 4th quarter valued at about $39,000. Strs Ohio acquired a new stake in Twin Disc in the 1st quarter valued at approximately $74,000. JPMorgan Chase & Co. raised its position in Twin Disc by 28.6% in the third quarter. JPMorgan Chase & Co. now owns 5,361 shares of the industrial products company’s stock valued at $75,000 after purchasing an additional 1,193 shares during the period. Bank of America Corp DE lifted its stake in Twin Disc by 40.9% during the second quarter. Bank of America Corp DE now owns 15,811 shares of the industrial products company’s stock worth $140,000 after purchasing an additional 4,590 shares in the last quarter. Finally, Qube Research & Technologies Ltd purchased a new position in shares of Twin Disc during the second quarter worth $141,000. 65.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on TWIN shares. Weiss Ratings raised Twin Disc from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 12th. Lake Street Capital assumed coverage on Twin Disc in a research report on Thursday, July 9th. They issued a “buy” rating and a $30.00 price objective for the company. Finally, Wall Street Zen cut Twin Disc from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 6th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Twin Disc currently has an average rating of “Moderate Buy” and a consensus price target of $30.00.

Twin Disc Company Profile

Twin Disc, Inc (NASDAQ: TWIN) is a global designer and manufacturer of power transmission equipment for marine and industrial applications. Headquartered in Racine, Wisconsin, the company develops a range of mechanical and digital solutions that control power delivery in demanding environments. Its portfolio includes marine gears, power take-offs, clutches, brakes, transmissions and controllable pitch propeller systems engineered to withstand heavy loads and corrosive conditions.

In addition to original equipment manufacturing, Twin Disc offers aftermarket parts and services, including maintenance, repair and overhaul support through a network of service centers worldwide.