Sun Hydraulics Co. (NASDAQ:SNHY) – Equities researchers at SunTrust Banks increased their Q3 2019 earnings per share (EPS) estimates for shares of Sun Hydraulics in a note issued to investors on Tuesday, November 6th. SunTrust Banks analyst C. Brady now forecasts that the industrial products company will post earnings of $0.57 per share for the quarter, up from their previous estimate of $0.55. SunTrust Banks currently has a “Accumulate” rating and a $46.00 price target on the stock. SunTrust Banks also issued estimates for Sun Hydraulics’ Q4 2019 earnings at $0.48 EPS and FY2020 earnings at $2.55 EPS.
Other equities analysts have also issued research reports about the company. BidaskClub raised Sun Hydraulics from a “hold” rating to a “buy” rating in a research report on Saturday, September 22nd. Zacks Investment Research raised Sun Hydraulics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 12th. Robert W. Baird set a $50.00 price objective on Sun Hydraulics and gave the company a “hold” rating in a research report on Tuesday, August 7th. Finally, ValuEngine lowered Sun Hydraulics from a “hold” rating to a “sell” rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Sun Hydraulics has a consensus rating of “Hold” and a consensus target price of $58.17.
Sun Hydraulics (NASDAQ:SNHY) last announced its quarterly earnings data on Tuesday, November 6th. The industrial products company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.02). The firm had revenue of $135.80 million for the quarter, compared to analysts’ expectations of $141.42 million. Sun Hydraulics had a net margin of 7.29% and a return on equity of 10.64%. The business’s quarterly revenue was up 54.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.43 EPS.
Several institutional investors and hedge funds have recently bought and sold shares of SNHY. Amalgamated Bank purchased a new position in shares of Sun Hydraulics in the 2nd quarter worth about $211,000. Private Advisor Group LLC purchased a new position in shares of Sun Hydraulics in the 3rd quarter worth about $219,000. Truvestments Capital LLC purchased a new position in shares of Sun Hydraulics in the 3rd quarter worth about $222,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Sun Hydraulics in the 2nd quarter worth about $275,000. Finally, Xact Kapitalforvaltning AB raised its position 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 worth $287,000 after purchasing an additional 2,200 shares during the last quarter. 86.21% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Christine L. Koski sold 22,500 shares of Sun Hydraulics stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $51.21, for a total value of $1,152,225.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Tricia L. Fulton sold 7,500 shares of Sun Hydraulics stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $54.21, for a total value of $406,575.00. Following the completion of the transaction, the chief financial officer now directly owns 62,091 shares of the company’s stock, valued at approximately $3,365,953.11. The disclosure for this sale can be found here. Insiders have sold 104,601 shares of company stock valued at $5,620,982 in the last three months. Insiders own 7.80% of the company’s stock.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, October 20th. Shareholders of record on Friday, October 5th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.87%. The ex-dividend date was Thursday, October 4th. Sun Hydraulics’s dividend payout ratio is currently 22.50%.
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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