Sun Hydraulics Co. Forecasted to Earn FY2017 Earnings of $1.57 Per Share (SNHY)
Sun Hydraulics Co. (NASDAQ:SNHY) – Equities researchers at SunTrust Banks issued their FY2017 earnings per share estimates for shares of Sun Hydraulics in a research report issued on Monday. SunTrust Banks analyst C. Brady anticipates that the industrial products company will post earnings per share of $1.57 for the year. SunTrust Banks currently has a “Buy” rating on the stock. SunTrust Banks also issued estimates for Sun Hydraulics’ Q4 2017 earnings at $0.24 EPS, Q1 2018 earnings at $0.51 EPS, Q2 2018 earnings at $0.53 EPS, Q3 2018 earnings at $0.48 EPS, Q4 2018 earnings at $0.36 EPS, FY2018 earnings at $1.89 EPS, Q1 2019 earnings at $0.56 EPS, Q2 2019 earnings at $0.62 EPS, Q3 2019 earnings at $0.55 EPS, Q4 2019 earnings at $0.41 EPS and FY2019 earnings at $2.13 EPS.
A number of other brokerages also recently issued reports on SNHY. BidaskClub raised Sun Hydraulics from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. Zacks Investment Research downgraded Sun Hydraulics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 10th. KeyCorp started coverage on Sun Hydraulics in a research report on Monday. They set an “overweight” rating and a $67.00 price target on the stock. Finally, Robert W. Baird downgraded Sun Hydraulics from an “outperform” rating to a “neutral” rating and increased their price target for the stock from $55.00 to $57.00 in a research report on Friday, October 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $62.33.
Sun Hydraulics (NASDAQ:SNHY) last posted its earnings results on Monday, November 6th. The industrial products company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.36 by $0.07. Sun Hydraulics had a return on equity of 15.54% and a net margin of 10.34%. The company had revenue of $88.00 million for the quarter, compared to the consensus estimate of $80.66 million. During the same quarter in the prior year, the business earned $0.19 earnings per share. The firm’s revenue for the quarter was up 94.7% on a year-over-year basis.
The business also recently declared a quarterly dividend, which was paid on Saturday, January 20th. Investors of record on Friday, January 5th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Thursday, January 4th. Sun Hydraulics’s dividend payout ratio is currently 30.25%.
A number of large investors have recently modified their holdings of the stock. California Public Employees Retirement System grew its position in Sun Hydraulics by 4.7% during the fourth quarter. California Public Employees Retirement System now owns 46,702 shares of the industrial products company’s stock worth $3,021,000 after buying an additional 2,115 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in Sun Hydraulics during the fourth quarter worth $543,000. WCM Investment Management CA lifted its stake in Sun Hydraulics by 287.7% during the fourth quarter. WCM Investment Management CA now owns 127,860 shares of the industrial products company’s stock worth $8,271,000 after purchasing an additional 94,885 shares during the last quarter. Comerica Bank lifted its stake in Sun Hydraulics by 85.3% during the fourth quarter. Comerica Bank now owns 19,771 shares of the industrial products company’s stock worth $1,341,000 after purchasing an additional 9,100 shares during the last quarter. Finally, Mutual of America Capital Management LLC lifted its stake in Sun Hydraulics by 0.7% during the fourth quarter. Mutual of America Capital Management LLC now owns 118,243 shares of the industrial products company’s stock worth $7,649,000 after purchasing an additional 819 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.
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About Sun Hydraulics
Sun Hydraulics Corporation (Sun) develops and manufactures solutions for the hydraulics and electronics markets. It is engaged in power controls and vehicle technologies lines of business. The Company operates through two segments including hydraulics and electronics. Hydraulics market segment is engaged in manufacturing of screw-in hydraulic cartridge valves, electro-hydraulics, manifolds, and integrated package solutions for the worldwide industrial and mobile hydraulics markets operating under the brand Sun Hydraulics.
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