Equities Analysts Offer Predictions for Ducommun Incorporated’s Q2 2023 Earnings (NYSE:DCO)

Posted by on May 19th, 2023

Ducommun Incorporated (NYSE:DCO – Get Rating) – Stock analysts at B. Riley lowered their Q2 2023 earnings per share (EPS) estimates for Ducommun in a research note issued to investors on Wednesday, May 17th. B. Riley analyst M. Crawford now anticipates that the aerospace company will post earnings per share of $0.53 for the quarter, down from their prior estimate of $0.57. The consensus estimate for Ducommun’s current full-year earnings is $2.71 per share. B. Riley also issued estimates for Ducommun’s Q3 2023 earnings at $0.65 EPS and Q4 2023 earnings at $0.71 EPS.

Ducommun (NYSE:DCO – Get Rating) last released its earnings results on Thursday, February 16th. The aerospace company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. Ducommun had a net margin of 3.55% and a return on equity of 7.71%. The firm had revenue of $188.27 million for the quarter, compared to analysts’ expectations of $184.31 million.

Other research analysts also recently issued research reports about the company. Royal Bank of Canada cut their price target on Ducommun from $64.00 to $56.00 in a research note on Wednesday. StockNews.com assumed coverage on shares of Ducommun in a research note on Thursday. They set a “buy” rating on the stock. Finally, Truist Financial reduced their price objective on shares of Ducommun from $66.00 to $62.00 in a research note on Friday, May 5th.

Ducommun Price Performance

Ducommun stock opened at $41.75 on Thursday. The company has a current ratio of 2.84, a quick ratio of 1.77 and a debt-to-equity ratio of 0.45. The business’s 50 day simple moving average is $51.15 and its 200 day simple moving average is $51.96. Ducommun has a 12 month low of $38.89 and a 12 month high of $58.28. The company has a market cap of $511.19 million, a price-to-earnings ratio of 19.88 and a beta of 1.34.

Hedge Funds Weigh In On Ducommun

Large investors have recently modified their holdings of the company. Quadrant Capital Group LLC lifted its position in Ducommun by 376.0% during the third quarter. Quadrant Capital Group LLC now owns 695 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 549 shares during the last quarter. Lazard Asset Management LLC purchased a new position in Ducommun in the third quarter worth $28,000. Tower Research Capital LLC TRC increased its stake in Ducommun by 116.9% in the first quarter. Tower Research Capital LLC TRC now owns 655 shares of the aerospace company’s stock valued at $36,000 after acquiring an additional 353 shares during the last quarter. New York State Teachers Retirement System raised its position in Ducommun by 881.0% during the first quarter. New York State Teachers Retirement System now owns 981 shares of the aerospace company’s stock valued at $54,000 after purchasing an additional 881 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Ducommun by 104.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,465 shares of the aerospace company’s stock worth $58,000 after purchasing an additional 749 shares during the last quarter. 83.61% of the stock is currently owned by institutional investors.

About Ducommun

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Ducommun, Inc engages in the provision of engineering and manufacturing services to the aerospace, defense, industrial, and medical industries. It operates through the Electronic Systems and Structural Systems segments. The Electronic Systems segment offers electronic and electromechanical products used in worldwide technology-driven markets.

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