Wall Street brokerages forecast that Sun Hydraulics Co. (NASDAQ:SNHY) will announce earnings per share (EPS) of $0.46 for the current quarter, Zacks reports. Five analysts have made estimates for Sun Hydraulics’ earnings. The lowest EPS estimate is $0.37 and the highest is $0.56. Sun Hydraulics reported earnings of $0.43 per share during the same quarter last year, which would indicate a positive year over year growth rate of 7%. The firm is expected to announce its next earnings results on Monday, November 5th.
According to Zacks, analysts expect that Sun Hydraulics will report full-year earnings of $1.79 per share for the current year, with EPS estimates ranging from $1.61 to $1.87. For the next fiscal year, analysts anticipate that the company will post earnings of $2.27 per share, with EPS estimates ranging from $2.21 to $2.33. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow Sun Hydraulics.
Sun Hydraulics (NASDAQ:SNHY) last posted its earnings results on Tuesday, August 7th. The industrial products company reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.12). Sun Hydraulics had a net margin of 8.08% and a return on equity of 11.79%. The business had revenue of $136.20 million during the quarter, compared to analysts’ expectations of $139.80 million. During the same quarter in the prior year, the firm earned $0.27 EPS. Sun Hydraulics’s revenue for the quarter was up 52.5% compared to the same quarter last year.
In other news, Director Christine L. Koski sold 1,221 shares of Sun Hydraulics stock in a transaction on Monday, September 17th. The stock was sold at an average price of $53.57, for a total value of $65,408.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christine L. Koski sold 29,580 shares of Sun Hydraulics stock in a transaction on Friday, September 21st. The shares were sold at an average price of $56.86, for a total value of $1,681,918.80. The disclosure for this sale can be found here. Insiders sold 104,601 shares of company stock valued at $5,620,982 over the last ninety days. Insiders own 7.80% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNHY. Royal Bank of Canada grew its stake in Sun Hydraulics by 112.4% during the 1st quarter. Royal Bank of Canada now owns 562,455 shares of the industrial products company’s stock worth $30,125,000 after purchasing an additional 297,681 shares in the last quarter. Wasatch Advisors Inc. grew its stake in Sun Hydraulics by 12.0% during the 2nd quarter. Wasatch Advisors Inc. now owns 2,314,584 shares of the industrial products company’s stock worth $111,540,000 after purchasing an additional 248,891 shares in the last quarter. BlackRock Inc. grew its stake in Sun Hydraulics by 11.3% during the 2nd quarter. BlackRock Inc. now owns 1,882,223 shares of the industrial products company’s stock worth $90,703,000 after purchasing an additional 191,707 shares in the last quarter. Fred Alger Management Inc. grew its stake in Sun Hydraulics by 22.6% during the 2nd quarter. Fred Alger Management Inc. now owns 742,056 shares of the industrial products company’s stock worth $35,760,000 after purchasing an additional 136,836 shares in the last quarter. Finally, Conestoga Capital Advisors LLC grew its stake in Sun Hydraulics by 6.2% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,248,622 shares of the industrial products company’s stock worth $60,171,000 after purchasing an additional 72,645 shares in the last quarter. 85.72% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:SNHY traded up $0.01 on Monday, reaching $46.21. The company’s stock had a trading volume of 143,430 shares, compared to its average volume of 172,649. Sun Hydraulics has a 12-month low of $45.44 and a 12-month high of $70.83. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $1.73 billion, a P/E ratio of 28.88 and a beta of 1.68.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 20th. Stockholders of record on Friday, October 5th will be paid a $0.09 dividend. The ex-dividend date is Thursday, October 4th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.78%. Sun Hydraulics’s payout ratio is presently 22.50%.
About Sun Hydraulics
Helios Technologies 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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