Sun Hydraulics Corporation (SNHY) Posts Quarterly Earnings Results, Beats Expectations By $0.09 EPS
Sun Hydraulics Corporation (NASDAQ:SNHY) issued its quarterly earnings data on Monday. The industrial products company reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.09, Bloomberg Earnings reports. Sun Hydraulics Corporation had a return on equity of 13.25% and a net margin of 9.63%. The company had revenue of $88.00 million for the quarter, compared to analysts’ expectations of $80.66 million. During the same period in the previous year, the firm posted $0.19 earnings per share. The firm’s revenue for the quarter was up 94.7% on a year-over-year basis.
Shares of Sun Hydraulics Corporation (SNHY) opened at $59.85 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.80 and a current ratio of 3.65. Sun Hydraulics Corporation has a 52 week low of $28.92 and a 52 week high of $59.97. The firm has a market capitalization of $1,599.98, a P/E ratio of 48.87 and a beta of 1.80.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 20th. Shareholders of record on Thursday, October 5th were paid a dividend of $0.09 per share. The ex-dividend date was Wednesday, October 4th. This represents a $0.36 annualized dividend and a yield of 0.60%. Sun Hydraulics Corporation’s payout ratio is currently 37.50%.
In other Sun Hydraulics Corporation news, Director Christine L. Koski sold 19,140 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $47.26, for a total transaction of $904,556.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christine L. Koski sold 14,753 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $47.01, for a total value of $693,538.53. The disclosure for this sale can be found here. Insiders have sold 85,440 shares of company stock worth $4,070,619 over the last three months. 10.70% of the stock is currently owned by insiders.
SNHY has been the topic of several analyst reports. Zacks Investment Research cut Sun Hydraulics Corporation from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 11th. Robert W. Baird cut Sun Hydraulics Corporation from an “outperform” rating to a “neutral” rating and boosted their price objective for the stock from $55.00 to $57.00 in a research note on Friday, October 13th. Sidoti initiated coverage on Sun Hydraulics Corporation in a research note on Thursday, September 14th. They set a “neutral” rating on the stock. Finally, BidaskClub raised Sun Hydraulics Corporation from a “strong sell” rating to a “sell” rating in a research note on Friday, August 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $60.00.
Sun Hydraulics Corporation Company Profile
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.
Receive News & Ratings for Sun Hydraulics Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sun Hydraulics Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.