Equities analysts forecast that Sun Hydraulics Co. (NASDAQ:SNHY) will post earnings per share of $0.57 for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Sun Hydraulics’ earnings. The highest EPS estimate is $0.68 and the lowest is $0.49. Sun Hydraulics posted earnings of $0.52 per share in the same quarter last year, which would suggest a positive year over year growth rate of 9.6%. The business is expected to issue its next earnings results on Monday, August 6th.
According to Zacks, analysts expect that Sun Hydraulics will report full-year earnings of $1.99 per share for the current financial year, with EPS estimates ranging from $1.81 to $2.25. For the next fiscal year, analysts forecast that the firm will post earnings of $2.48 per share, with EPS estimates ranging from $2.27 to $2.98. Zacks’ EPS averages are an average based on a survey of sell-side research firms that follow Sun Hydraulics.
Sun Hydraulics (NASDAQ:SNHY) last issued its quarterly earnings data on Tuesday, May 8th. The industrial products company reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.02). Sun Hydraulics had a net margin of 9.27% and a return on equity of 14.12%. The firm had revenue of $97.30 million during the quarter, compared to analyst estimates of $94.81 million. During the same period in the previous year, the firm posted $0.43 earnings per share. The company’s quarterly revenue was up 19.5% compared to the same quarter last year.
SNHY has been the subject of a number of research reports. Stifel Nicolaus dropped their price objective on Sun Hydraulics from $61.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, May 9th. ValuEngine raised Sun Hydraulics from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Zacks Investment Research raised Sun Hydraulics from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Saturday, April 14th. Robert W. Baird lowered their target price on Sun Hydraulics from $64.00 to $55.00 and set a “hold” rating for the company in a research note on Monday, April 9th. Finally, BidaskClub raised Sun Hydraulics from a “sell” rating to a “hold” rating in a research note on Friday, March 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $60.60.
Shares of Sun Hydraulics traded down $0.36, reaching $51.35, during trading on Friday, according to MarketBeat Ratings. The stock had a trading volume of 167,400 shares, compared to its average volume of 212,046. Sun Hydraulics has a fifty-two week low of $40.82 and a fifty-two week high of $70.83. The stock has a market capitalization of $1.64 billion, a PE ratio of 32.32 and a beta of 1.69.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 20th. Investors of record on Thursday, July 5th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, July 3rd. This represents a $0.36 annualized dividend and a yield of 0.70%. Sun Hydraulics’s payout ratio is 22.50%.
In related news, Director Christine L. Koski sold 25,000 shares of the business’s stock in a transaction on Thursday, May 17th. The stock was sold at an average price of $49.20, for a total transaction of $1,230,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christine L. Koski sold 35,000 shares of the business’s stock in a transaction on Wednesday, May 30th. The stock was sold at an average price of $50.63, for a total value of $1,772,050.00. The disclosure for this sale can be found here. Insiders have sold a total of 85,000 shares of company stock valued at $4,263,800 over the last three months. 7.80% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in SNHY. Schwab Charles Investment Management Inc. boosted its position in shares of Sun Hydraulics by 8.1% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 117,909 shares of the industrial products company’s stock worth $7,628,000 after acquiring an additional 8,858 shares in the last quarter. Comerica Bank boosted its position in shares of Sun Hydraulics by 85.3% during the 4th quarter. Comerica Bank now owns 19,771 shares of the industrial products company’s stock worth $1,341,000 after acquiring an additional 9,100 shares in the last quarter. WCM Investment Management CA boosted its position in shares of Sun Hydraulics by 287.7% during the 4th quarter. WCM Investment Management CA now owns 127,860 shares of the industrial products company’s stock worth $8,271,000 after acquiring an additional 94,885 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in shares of Sun Hydraulics during the 4th quarter worth about $543,000. Finally, California Public Employees Retirement System boosted its position in shares of Sun Hydraulics by 4.7% during the 4th quarter. California Public Employees Retirement System now owns 46,702 shares of the industrial products company’s stock worth $3,021,000 after acquiring an additional 2,115 shares in the last quarter. 82.59% of the stock is owned by institutional investors and hedge funds.
Sun Hydraulics Company Profile
Sun Hydraulics Corporation designs, manufactures, and sells screw-in hydraulic cartridge valves, manifolds, and integrated fluid power packages and subsystems used in hydraulic systems worldwide. The company operates through two segments, Hydraulics and Electronics. Its screw-in hydraulic cartridge valves and manifolds control force, speed, and motion as integral components in fluid power systems.
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