Northwest Pipe (NASDAQ:NWPX) to Post Q2 2024 Earnings of $0.61 Per Share, DA Davidson Forecasts

Northwest Pipe (NASDAQ:NWPX) – Analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for Northwest Pipe in a report issued on Friday, May 3rd. DA Davidson analyst B. Thielman expects that the industrial products company will post earnings of $0.61 per share for the quarter. DA Davidson has a “Buy” rating and a $40.00 price target on the stock. The consensus estimate for Northwest Pipe’s current full-year earnings is $2.31 per share. DA Davidson also issued estimates for Northwest Pipe’s FY2025 earnings at $3.00 EPS.

A number of other equities analysts also recently weighed in on NWPX. StockNews.com downgraded shares of Northwest Pipe from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. TheStreet raised Northwest Pipe from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st.

Northwest Pipe Stock Up 8.3 %

NWPX stock opened at $36.21 on Monday. The company has a 50 day moving average of $33.03 and a two-hundred day moving average of $30.10. The company has a market cap of $359.20 million, a price-to-earnings ratio of 15.21, a PEG ratio of 2.83 and a beta of 0.97. Northwest Pipe has a 12-month low of $25.58 and a 12-month high of $36.43. The company has a quick ratio of 2.40, a current ratio of 3.56 and a debt-to-equity ratio of 0.26.

Northwest Pipe (NASDAQ:NWPX) last posted its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.18. Northwest Pipe had a net margin of 5.22% and a return on equity of 7.11%. The business had revenue of $113.22 million during the quarter, compared to analyst estimates of $103.20 million. During the same period in the prior year, the firm earned $0.23 earnings per share.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NWPX. Dimensional Fund Advisors LP boosted its holdings in Northwest Pipe by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 755,883 shares of the industrial products company’s stock worth $22,873,000 after purchasing an additional 5,572 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Northwest Pipe by 9.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 414,624 shares of the industrial products company’s stock valued at $12,509,000 after acquiring an additional 35,997 shares during the last quarter. Pacific Ridge Capital Partners LLC raised its stake in shares of Northwest Pipe by 16.4% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 317,067 shares of the industrial products company’s stock valued at $9,594,000 after acquiring an additional 44,756 shares in the last quarter. Foundry Partners LLC lifted its holdings in Northwest Pipe by 9.1% in the 3rd quarter. Foundry Partners LLC now owns 178,470 shares of the industrial products company’s stock worth $5,384,000 after purchasing an additional 14,815 shares during the last quarter. Finally, Gendell Jeffrey L boosted its position in Northwest Pipe by 67.5% during the third quarter. Gendell Jeffrey L now owns 131,767 shares of the industrial products company’s stock worth $3,975,000 after purchasing an additional 53,118 shares during the period. Institutional investors and hedge funds own 80.63% of the company’s stock.

About Northwest Pipe

Northwest Pipe Company, together with its subsidiaries, engages in the manufacture and supply of water-related infrastructure products in North America. It operates in two segments, Engineered Steel Pressure Pipe (SPP) and Precast Infrastructure and Engineered Systems (Precast). The SPP segment offers large-diameter and high-pressure steel pipeline systems for use in water infrastructure applications, which are primarily related to drinking water systems.