Powell Industries, Inc. (NASDAQ:POWL) Declares Dividend Increase – $0.27 Per Share

by · The Markets Daily

Powell Industries, Inc. (NASDAQ:POWL – Get Free Report) announced a quarterly dividend on Tuesday, February 3rd. Shareholders of record on Wednesday, February 18th will be paid a dividend of 0.27 per share by the industrial products company on Wednesday, March 18th. This represents a c) dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Wednesday, February 18th. This is a 0.9% increase from Powell Industries’s previous quarterly dividend of $0.27.

Powell Industries has raised its dividend by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 3 years. Powell Industries has a dividend payout ratio of 7.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Powell Industries to earn $14.80 per share next year, which means the company should continue to be able to cover its $1.07 annual dividend with an expected future payout ratio of 7.2%.

Powell Industries Stock Up 11.4%

Powell Industries stock traded up $51.63 during midday trading on Wednesday, reaching $504.87. The company’s stock had a trading volume of 423,216 shares, compared to its average volume of 292,606. The business has a 50-day simple moving average of $367.47 and a 200-day simple moving average of $321.48. The company has a market cap of $6.13 billion, a P/E ratio of 34.40, a P/E/G ratio of 2.04 and a beta of 0.85. Powell Industries has a fifty-two week low of $146.02 and a fifty-two week high of $569.80.

Powell Industries (NASDAQ:POWL – Get Free Report) last released its quarterly earnings data on Tuesday, February 3rd. The industrial products company reported $3.40 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.55. Powell Industries had a net margin of 16.37% and a return on equity of 31.80%. The firm had revenue of $251.18 million for the quarter, compared to the consensus estimate of $255.34 million. During the same quarter in the previous year, the firm earned $2.86 earnings per share. The firm’s revenue was up 4.1% on a year-over-year basis. As a group, equities analysts forecast that Powell Industries will post 13.71 earnings per share for the current year.

Analyst Ratings Changes

POWL has been the subject of a number of research reports. Cantor Fitzgerald started coverage on Powell Industries in a research report on Friday, January 23rd. They set a “neutral” rating and a $427.00 price target for the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Powell Industries in a report on Monday, December 29th. Roth Mkm restated a “buy” rating and issued a $350.00 price target on shares of Powell Industries in a research note on Wednesday, November 19th. Finally, Wall Street Zen downgraded shares of Powell Industries from a “buy” rating to a “hold” rating in a research report on Monday, January 19th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $388.50.

View Our Latest Research Report on POWL

About Powell Industries

(Get Free Report)

Powell Industries, Inc is an industrial electrical engineering company specializing in the design, manufacture and integration of customized power control and distribution solutions. The firm’s offerings range from medium‐voltage switchgear and power control centers to bus duct, motor control centers and specialty transformers. Powell also provides automation systems, protective relaying, metering, supervisory control and data acquisition (SCADA) platforms, and turnkey engineering services to help clients manage critical power infrastructure.

Serving the oil and gas, petrochemical, refining, utility, mining and industrial sectors, Powell’s products are engineered to meet demanding performance, safety and reliability requirements.

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