Sun Hydraulics (SNHY) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS

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Sun Hydraulics (NASDAQ:SNHY) posted its quarterly earnings data on Tuesday. The industrial products company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.02), Briefing.com reports. The company had revenue of $135.80 million during the quarter, compared to the consensus estimate of $141.42 million. Sun Hydraulics had a net margin of 8.08% and a return on equity of 11.79%. Sun Hydraulics’s revenue for the quarter was up 54.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.43 earnings per share.

SNHY opened at $37.95 on Wednesday. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 23.72 and a beta of 1.71. Sun Hydraulics has a 52 week low of $37.01 and a 52 week high of $70.83. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70.

The company also recently disclosed a quarterly dividend, which was paid on Saturday, October 20th. Shareholders of record on Friday, October 5th were issued a dividend of $0.09 per share. The ex-dividend date was Thursday, October 4th. This represents a $0.36 annualized dividend and a yield of 0.95%. Sun Hydraulics’s payout ratio is currently 22.50%.

Several equities research analysts have recently weighed in on the company. ValuEngine downgraded Sun Hydraulics from a “hold” rating to a “sell” rating in a report on Tuesday. BidaskClub upgraded Sun Hydraulics from a “sell” rating to a “hold” rating in a report on Saturday. Zacks Investment Research downgraded Sun Hydraulics from a “hold” rating to a “sell” rating in a report on Wednesday, October 10th. SunTrust Banks increased their price target on Sun Hydraulics to $62.00 and gave the stock a “positive” rating in a report on Thursday, October 4th. Finally, Robert W. Baird upgraded Sun Hydraulics from a “neutral” rating to an “outperform” rating and set a $55.00 price target on the stock in a report on Thursday, September 20th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $60.83.

In other Sun Hydraulics news, Director Christine L. Koski sold 22,500 shares of the firm’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $51.21, for a total transaction of $1,152,225.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Christine L. Koski sold 7,500 shares of the firm’s stock in a transaction on Thursday, September 6th. The stock was sold at an average price of $50.18, for a total value of $376,350.00. The disclosure for this sale can be found here. Insiders have sold a total of 104,601 shares of company stock worth $5,620,982 over the last 90 days. 7.80% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James & Associates increased its holdings in shares of Sun Hydraulics by 23.1% in the 2nd quarter. Raymond James & Associates now owns 7,983 shares of the industrial products company’s stock valued at $385,000 after acquiring an additional 1,500 shares during the period. Xact Kapitalforvaltning AB increased its holdings in shares of Sun Hydraulics by 69.7% in the 1st quarter. Xact Kapitalforvaltning AB now owns 5,358 shares of the industrial products company’s stock valued at $287,000 after acquiring an additional 2,200 shares during the period. Rhumbline Advisers increased its holdings in shares of Sun Hydraulics by 8.3% in the 2nd quarter. Rhumbline Advisers now owns 30,314 shares of the industrial products company’s stock valued at $1,461,000 after acquiring an additional 2,315 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Sun Hydraulics by 13.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 20,461 shares of the industrial products company’s stock valued at $1,096,000 after acquiring an additional 2,458 shares during the period. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of Sun Hydraulics by 5.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 57,603 shares of the industrial products company’s stock valued at $2,776,000 after acquiring an additional 2,776 shares during the period. Institutional investors own 86.21% of the company’s stock.

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Sun Hydraulics Company Profile

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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Earnings History for Sun Hydraulics (NASDAQ:SNHY)

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