Eastern (NASDAQ:EML) Posts Quarterly Earnings Results

Eastern (NASDAQ:EML) released its quarterly earnings results on Tuesday. The industrial products company reported $0.42 earnings per share (EPS) 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 Performance

Shares of EML stock traded down $0.18 during trading hours on Tuesday, reaching $27.50. 7,050 shares of the company’s stock were exchanged, compared to its average volume of 8,595. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.64 and a quick ratio of 1.42. Eastern has a 1 year low of $23.15 and a 1 year high of $35.78. The company has a market cap of $170.03 million, a P/E ratio of -26.70 and a beta of 0.97. The company’s 50 day moving average is $27.34 and its two-hundred day moving average is $29.15.

Eastern Announces Dividend

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

Analyst Ratings Changes

Separately, StockNews.com lowered Eastern from a “strong-buy” rating to a “buy” rating in a 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.