Park Electrochemical Corporation (NYSE:PKE) announced a special dividend on Thursday, January 4th, RTT News reports. Investors of record on Tuesday, January 23rd will be given a dividend of 3.00 per share by the semiconductor company on Tuesday, February 13th. The ex-dividend date of this dividend is Monday, January 22nd. This is a boost from Park Electrochemical’s previous special dividend of $1.50.
Park Electrochemical has a payout ratio of 108.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Park Electrochemical to earn $0.36 per share next year, which means the company may not be able to cover its $0.40 annual dividend with an expected future payout ratio of 111.1%.
Park Electrochemical (PKE) traded down $0.01 during mid-day trading on Monday, reaching $17.30. The company’s stock had a trading volume of 161,739 shares, compared to its average volume of 240,636. The company has a market cap of $348.29, a PE ratio of 69.20 and a beta of 0.94. The company has a debt-to-equity ratio of 0.37, a quick ratio of 18.39 and a current ratio of 19.23. Park Electrochemical has a 52-week low of $16.00 and a 52-week high of $23.58.
Park Electrochemical (NYSE:PKE) last released its earnings results on Thursday, January 4th. The semiconductor company reported $0.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.07). Park Electrochemical had a return on equity of 4.69% and a net margin of 4.60%. The firm had revenue of $26.14 million for the quarter, compared to the consensus estimate of $28.50 million. During the same quarter last year, the company posted $0.10 EPS. equities analysts expect that Park Electrochemical will post 0.37 earnings per share for the current year.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Park Electrochemical from a “sell” rating to a “hold” rating in a research note on Wednesday, December 6th. Needham & Company LLC raised their target price on shares of Park Electrochemical to $24.00 and gave the company a “buy” rating in a research note on Friday, January 5th. They noted that the move was a valuation call.
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Park Electrochemical Company Profile
Park Electrochemical Corp. is a global advanced materials company. The Company develops, manufactures, markets and sells digital and radio frequency (RF)/microwave printed circuit materials products principally for the telecommunications and Internet infrastructure and high-end computing markets and advanced composite materials, parts and assemblies and low-volume tooling products for the aerospace markets.
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