Eastern (NASDAQ:EML) Issues Earnings Results, Misses Estimates By $0.29 EPS

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

Eastern Stock Performance

Shares of NASDAQ EML traded up $2.23 during midday trading on Tuesday, reaching $29.48. 12,515 shares of the company traded hands, compared to its average volume of 19,149. The company has a market cap of $177.47 million, a price-to-earnings ratio of 22.00 and a beta of 0.89. The stock has a 50-day moving average price of $25.56 and a 200 day moving average price of $22.89. Eastern has a 52 week low of $17.61 and a 52 week high of $29.91. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.80 and a quick ratio of 1.32.

Eastern Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders 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 (DPR) is 32.84%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Eastern in a report on Monday, September 21st. Wall Street Zen raised shares of Eastern from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Two equities research analysts have rated the stock with a Hold rating. According to MarketBeat.com, Eastern 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.