Q3 2024 Earnings Forecast for Powell Industries, Inc. (NASDAQ:POWL) Issued By Sidoti Csr

Powell Industries, Inc. (NASDAQ:POWL) – Equities research analysts at Sidoti Csr raised their Q3 2024 earnings per share estimates for shares of Powell Industries in a research note issued to investors on Wednesday, May 1st. Sidoti Csr analyst J. Franzreb now expects that the industrial products company will post earnings per share of $2.12 for the quarter, up from their prior estimate of $1.81. The consensus estimate for Powell Industries’ current full-year earnings is $9.04 per share. Sidoti Csr also issued estimates for Powell Industries’ Q4 2024 earnings at $2.19 EPS, FY2024 earnings at $9.04 EPS, Q1 2025 earnings at $2.02 EPS, Q2 2025 earnings at $2.30 EPS, Q3 2025 earnings at $2.27 EPS and FY2025 earnings at $8.99 EPS.

Powell Industries (NASDAQ:POWL) last released its earnings results on Tuesday, April 30th. The industrial products company reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.86. Powell Industries had a net margin of 12.05% and a return on equity of 27.93%. The business had revenue of $255.10 million for the quarter, compared to analysts’ expectations of $201.45 million. During the same period last year, the company earned $0.70 earnings per share. The company’s quarterly revenue was up 48.8% on a year-over-year basis.

Separately, StockNews.com downgraded shares of Powell Industries from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 1st.

Powell Industries Stock Down 0.4 %

NASDAQ:POWL opened at $159.95 on Friday. The company has a market cap of $1.92 billion, a P/E ratio of 19.00, a P/E/G ratio of 1.27 and a beta of 0.79. The firm’s 50 day moving average is $148.18 and its two-hundred day moving average is $113.08. Powell Industries has a fifty-two week low of $47.40 and a fifty-two week high of $197.87.

Hedge Funds Weigh In On Powell Industries

Several hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new position in shares of Powell Industries during the 3rd quarter valued at about $442,000. Stratos Wealth Partners LTD. bought a new stake in shares of Powell Industries during the 3rd quarter worth $652,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Powell Industries in the 3rd quarter valued at $137,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Powell Industries by 9.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 380,177 shares of the industrial products company’s stock worth $31,517,000 after acquiring an additional 31,989 shares during the period. Finally, Advisor Partners II LLC bought a new stake in Powell Industries during the third quarter valued at about $241,000. 89.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Powell Industries

In other Powell Industries news, major shareholder Thomas W. Powell sold 6,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $151.36, for a total value of $908,160.00. Following the transaction, the insider now owns 714,643 shares of the company’s stock, valued at $108,168,364.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Thomas W. Powell sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $151.36, for a total transaction of $908,160.00. Following the completion of the sale, the insider now directly owns 714,643 shares in the company, valued at $108,168,364.48. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Christopher E. Cragg sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $155.13, for a total value of $1,396,170.00. Following the sale, the director now directly owns 12,360 shares of the company’s stock, valued at $1,917,406.80. The disclosure for this sale can be found here. Insiders sold 30,000 shares of company stock valued at $4,850,830 over the last 90 days. 2.20% of the stock is currently owned by corporate insiders.

Powell Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Wednesday, May 15th will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 0.66%. This is an increase from Powell Industries’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Tuesday, May 14th. Powell Industries’s dividend payout ratio is 12.59%.

About Powell Industries

Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems. The company's principal products include integrated power control room substations, custom-engineered modules, electrical houses, medium-voltage circuit breakers, monitoring and control communications systems, motor control centers, switches, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.