Eastern (NASDAQ:EML) Posts Quarterly Earnings Results

Eastern (NASDAQ:EML) announced its earnings results on Tuesday. The industrial products company reported $0.42 earnings per share for the quarter, Zacks reports. Eastern had a positive return on equity of 10.44% and a negative net margin of 2.26%.

Eastern Stock Down 0.7 %

EML stock opened at $27.50 on Wednesday. Eastern has a 52 week low of $23.15 and a 52 week high of $35.78. The business has a 50-day simple moving average of $27.36 and a 200 day simple moving average of $29.13. The company has a quick ratio of 1.42, a current ratio of 2.64 and a debt-to-equity ratio of 0.37. The company has a market cap of $170.03 million, a PE ratio of -26.70 and a beta of 0.97.

Eastern Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be issued a $0.11 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.44 annualized dividend and a yield of 1.60%. Eastern’s dividend payout ratio is presently -42.72%.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Eastern from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 19th.

Eastern Company Profile

The Eastern Company designs, manufactures, and sells engineered solutions to industrial markets in the United States and internationally. The company offers turnkey returnable packaging solutions, which are used in the assembly processes of vehicles, aircraft, and durable goods, as well as in production processes of plastic packaging products, packaged consumer goods, and pharmaceuticals; designs and manufactures blow mold tools and injection blow mold tooling products, and 2-step stretch blow molds and related components for the stretch blow molding industry; and supplies blow molds and change parts to the food, beverage, healthcare, and chemical industries.