Sun Hydraulics Co. Announces Quarterly Dividend of $0.09 (SNHY)

Sun Hydraulics (NASDAQ:SNHY) announced a quarterly dividend on Thursday, May 30th, Stock Ratings Network.com reports. Investors of record on Sunday, June 30th will be paid a dividend of $0.09 per share on Monday, July 15th. This represents a $0.36 annualized dividend and a dividend yield of 1.19%.

On the ratings front, analysts at Zacks upgraded shares of Sun Hydraulics from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday, May 9th. They now have a $34.80 price target on the stock.

Sun Hydraulics (NASDAQ: SNHY) opened at 32.95 on Friday. Sun Hydraulics has a 1-year low of $20.81 and a 1-year high of $33.20. The stock’s 50-day moving average is currently $32.01. The company has a market cap of $864.4 million and a price-to-earnings ratio of 23.60.

Sun Hydraulics (NASDAQ: SNHY) last released its earnings data on Monday, May 6th. The company reported $0.37 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.36 by $0.01. The company had revenue of $51.10 million for the quarter, compared to the consensus estimate of $51.76 million. During the same quarter last year, the company posted $0.41 earnings per share. Sun Hydraulics’s revenue was down 7.6% compared to the same quarter last year. Sun Hydraulics has set its Q2 guidance at $0.41-0.43 EPS. On average, analysts predict that Sun Hydraulics will post $1.49 earnings per share for the current fiscal year.

Sun Hydraulics Corporation designs and manufactures screw-in hydraulic cartridge valves, manifolds and integrated packages for sale to international markets.

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