Perma-Pipe International (PPIH) Expected to Announce Quarterly Earnings on Thursday
by Amy Steele · The Cerbat GemPerma-Pipe International (NASDAQ:PPIH – Get Free Report) is expected to be announcing its results before the market opens on Thursday, April 30th. Analysts expect the company to announce earnings of $0.44 per share and revenue of $55.00 million for the quarter.
Perma-Pipe International (NASDAQ:PPIH – Get Free Report) last announced its quarterly earnings data on Thursday, April 16th. The industrial products company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.16. The firm had revenue of $55.13 million during the quarter, compared to analysts’ expectations of $55.00 million. Perma-Pipe International had a return on equity of 20.37% and a net margin of 8.08%.
Perma-Pipe International Stock Performance
Shares of NASDAQ:PPIH opened at $32.52 on Tuesday. The stock has a market capitalization of $264.06 million, a P/E ratio of 15.63 and a beta of 0.57. Perma-Pipe International has a 1-year low of $11.22 and a 1-year high of $36.72. The company has a current ratio of 1.84, a quick ratio of 1.61 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average price of $31.06 and a two-hundred day moving average price of $29.78.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on PPIH shares. Wall Street Zen cut Perma-Pipe International from a “strong-buy” rating to a “hold” rating in a report on Saturday, April 18th. Weiss Ratings raised Perma-Pipe International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $36.00.
Read Our Latest Report on PPIH
Institutional Trading of Perma-Pipe International
A number of institutional investors and hedge funds have recently modified their holdings of PPIH. Empowered Funds LLC increased its stake in shares of Perma-Pipe International by 8.8% in the 1st quarter. Empowered Funds LLC now owns 20,101 shares of the industrial products company’s stock valued at $250,000 after acquiring an additional 1,626 shares during the last quarter. Jane Street Group LLC increased its stake in shares of Perma-Pipe International by 55.2% in the 1st quarter. Jane Street Group LLC now owns 18,505 shares of the industrial products company’s stock valued at $230,000 after acquiring an additional 6,583 shares during the last quarter. Gamco Investors INC. ET AL bought a new stake in shares of Perma-Pipe International in the 2nd quarter valued at about $283,000. Bank of America Corp DE increased its stake in shares of Perma-Pipe International by 1,730.8% in the 2nd quarter. Bank of America Corp DE now owns 1,190 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 1,125 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its stake in shares of Perma-Pipe International by 4.4% in the 2nd quarter. Bridgeway Capital Management LLC now owns 64,422 shares of the industrial products company’s stock valued at $1,473,000 after acquiring an additional 2,711 shares during the last quarter. 28.43% of the stock is owned by institutional investors.
About Perma-Pipe International
Perma-Pipe International Holdings Ltd. is a publicly traded company on the NASDAQ under the symbol PPIH that specializes in the design, manufacture and installation of prefabricated piping systems. Its core business revolves around factory-assembled thermal insulation and corrosion protection solutions, including pre-insulated pipe, heat tracing, field-applied jackets and specialty spool pieces. These engineered systems are custom-built to industry specifications and are used to maintain temperatures, control heat loss and extend the life of critical piping infrastructure.
The company’s products and services serve a diverse range of end markets, with primary focus on oil and gas production, petrochemical processing, power generation, district energy, and industrial facilities.