Oppenheimer Brokers Boost Earnings Estimates for EnPro Industries, Inc. (NPO)
EnPro Industries, Inc. (NYSE:NPO) – Equities researchers at Oppenheimer boosted their FY2018 earnings per share (EPS) estimates for EnPro Industries in a report issued on Thursday. Oppenheimer analyst I. Zaffino now forecasts that the industrial products company will post earnings per share of $3.36 for the year, up from their previous forecast of $2.69. Oppenheimer currently has a “Outperform” rating and a $100.00 price target on the stock.
Other analysts also recently issued research reports about the company. B. Riley restated a “buy” rating on shares of EnPro Industries in a research note on Wednesday, November 1st. FBR & Co set a $100.00 price target on EnPro Industries and gave the stock a “buy” rating in a research report on Tuesday, October 31st. KeyCorp reiterated a “hold” rating on shares of EnPro Industries in a research report on Friday, October 20th. Zacks Investment Research downgraded EnPro Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Finally, BidaskClub downgraded EnPro Industries from a “hold” rating to a “sell” rating in a research report on Saturday, August 26th. Two research analysts have rated the stock with a sell rating and five have issued a buy rating to the company. EnPro Industries presently has an average rating of “Hold” and a consensus price target of $95.00.
Shares of EnPro Industries (NYSE NPO) traded up $2.56 on Monday, hitting $90.42. The stock had a trading volume of 430,100 shares, compared to its average volume of 116,576. EnPro Industries has a 1 year low of $61.36 and a 1 year high of $91.38. The company has a quick ratio of 1.59, a current ratio of 2.27 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $1,928.30, a P/E ratio of 50.80, a price-to-earnings-growth ratio of 2.14 and a beta of 1.18.
EnPro Industries (NYSE:NPO) last issued its earnings results on Monday, October 30th. The industrial products company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.16). EnPro Industries had a return on equity of 7.92% and a net margin of 40.74%. The company had revenue of $343.70 million during the quarter, compared to analysts’ expectations of $324.00 million. During the same quarter in the previous year, the company earned $0.28 EPS. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in NPO. Goldman Sachs Group Inc. increased its holdings in shares of EnPro Industries by 9.9% in the second quarter. Goldman Sachs Group Inc. now owns 17,029 shares of the industrial products company’s stock valued at $1,216,000 after purchasing an additional 1,529 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of EnPro Industries by 19.4% in the second quarter. American Century Companies Inc. now owns 463,864 shares of the industrial products company’s stock valued at $33,106,000 after purchasing an additional 75,506 shares during the last quarter. Northern Trust Corp increased its holdings in shares of EnPro Industries by 1.2% in the second quarter. Northern Trust Corp now owns 282,334 shares of the industrial products company’s stock valued at $20,149,000 after purchasing an additional 3,476 shares during the last quarter. Castleark Management LLC acquired a new stake in shares of EnPro Industries in the second quarter valued at approximately $6,456,000. Finally, Sei Investments Co. increased its holdings in shares of EnPro Industries by 22.4% in the second quarter. Sei Investments Co. now owns 22,205 shares of the industrial products company’s stock valued at $1,584,000 after purchasing an additional 4,066 shares during the last quarter. Institutional investors and hedge funds own 92.70% of the company’s stock.
In other news, insider Stephen E. Macadam sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $84.06, for a total value of $2,101,500.00. Following the transaction, the insider now owns 194,447 shares in the company, valued at $16,345,214.82. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.60% of the company’s stock.
EnPro Industries announced that its board has approved a stock repurchase plan on Monday, October 30th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th will be given a dividend of $0.22 per share. The ex-dividend date is Tuesday, December 5th. This represents a $0.88 dividend on an annualized basis and a yield of 0.97%. EnPro Industries’s dividend payout ratio is currently 3.82%.
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About EnPro Industries
EnPro Industries, Inc is engaged in the designing, developing, manufacturing and marketing engineered industrial products. It operates through three segments. The Sealing Products segment includes three operating divisions: Garlock, which designs, manufactures and sells sealing products; Technetics, which designs, manufactures and sells metal seals and elastomeric seals, among others, and Stemco LP (Stemco), which designs, manufactures and sells heavy-duty truck wheel-end components and systems.
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