Wall Street analysts forecast that Sun Hydraulics Co. (NASDAQ:SNHY) will post $140.92 million in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Sun Hydraulics’ earnings, with estimates ranging from $139.10 million to $144.80 million. Sun Hydraulics reported sales of $89.34 million during the same quarter last year, which would suggest a positive year over year growth rate of 57.7%. The firm is expected to issue its next earnings report on Monday, August 6th.
On average, analysts expect that Sun Hydraulics will report full year sales of $498.10 million for the current year, with estimates ranging from $496.80 million to $500.50 million. For the next fiscal year, analysts forecast that the business will report sales of $578.80 million per share, with estimates ranging from $569.30 million to $594.30 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Sun Hydraulics.
Sun Hydraulics (NASDAQ:SNHY) last issued its quarterly earnings results on Tuesday, May 8th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The business had revenue of $97.30 million for the quarter, compared to analysts’ expectations of $94.81 million. Sun Hydraulics had a return on equity of 14.12% and a net margin of 9.27%. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.43 EPS.
A number of equities analysts have issued reports on the company. ValuEngine downgraded Sun Hydraulics from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. BidaskClub downgraded Sun Hydraulics from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. KeyCorp reiterated an “overweight” rating and set a $62.00 price target (down previously from $67.00) on shares of Sun Hydraulics in a research report on Tuesday, May 8th. Stifel Nicolaus assumed coverage on Sun Hydraulics in a research report on Friday, March 23rd. They set a “buy” rating and a $61.00 price target on the stock. Finally, Zacks Investment Research downgraded Sun Hydraulics from a “buy” rating to a “hold” rating in a research report on Tuesday, May 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. Sun Hydraulics presently has a consensus rating of “Hold” and an average target price of $60.60.
In other news, major shareholder Robert C. Koski sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 24th. The stock was sold at an average price of $50.94, for a total value of $50,940.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Robert C. Koski sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 29th. The shares were sold at an average price of $50.03, for a total value of $250,150.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 92,000 shares of company stock worth $4,615,570. Company insiders own 7.80% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wasatch Advisors Inc. lifted its position in shares of Sun Hydraulics by 40.5% in the first quarter. Wasatch Advisors Inc. now owns 2,065,693 shares of the industrial products company’s stock valued at $110,639,000 after acquiring an additional 595,852 shares in the last quarter. BlackRock Inc. lifted its position in Sun Hydraulics by 10.6% during the first quarter. BlackRock Inc. now owns 1,690,516 shares of the industrial products company’s stock worth $90,542,000 after buying an additional 162,131 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Sun Hydraulics by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 893,905 shares of the industrial products company’s stock worth $47,877,000 after buying an additional 4,412 shares in the last quarter. GW&K Investment Management LLC lifted its position in Sun Hydraulics by 16.3% during the first quarter. GW&K Investment Management LLC now owns 698,513 shares of the industrial products company’s stock worth $37,412,000 after buying an additional 97,754 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its position in Sun Hydraulics by 3.5% during the first quarter. New York State Common Retirement Fund now owns 692,890 shares of the industrial products company’s stock worth $37,111,000 after buying an additional 23,473 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.
Sun Hydraulics traded down $0.65, reaching $50.70, during mid-day trading on Monday, Marketbeat reports. 280,522 shares of the company’s stock were exchanged, compared to its average volume of 137,221. The company has a market capitalization of $1.62 billion, a P/E ratio of 31.69 and a beta of 1.69. Sun Hydraulics has a 12-month low of $40.82 and a 12-month high of $70.83.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 20th. Stockholders of record on Thursday, July 5th will be given a $0.09 dividend. The ex-dividend date is Tuesday, July 3rd. This represents a $0.36 annualized dividend and a dividend yield of 0.71%. Sun Hydraulics’s dividend payout ratio (DPR) is presently 22.50%.
About Sun Hydraulics
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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