Brokerages Anticipate Sun Hydraulics Corporation (SNHY) to Announce $0.33 EPS

Sun Hydraulics Corporation (NASDAQ:SNHY) has been assigned an average broker rating score of 3.00 (Hold) from the one brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold rating. Sun Hydraulics’ rating score has declined by 200% from three months ago as a result of a number of analysts’ upgrades and downgrades.

Analysts have set a 12-month consensus target price of $57.00 for the company and are forecasting that the company will post $0.33 earnings per share for the current quarter, according to Zacks. Zacks has also given Sun Hydraulics an industry rank of 74 out of 265 based on the ratings given to its competitors.

Several research analysts have weighed in on the stock. BidaskClub downgraded shares of Sun Hydraulics from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Robert W. Baird lowered shares of Sun Hydraulics from an “outperform” rating to a “neutral” rating and upped their target price for the stock from $55.00 to $57.00 in a research note on Friday, October 13th. Zacks Investment Research lowered shares of Sun Hydraulics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 11th. Finally, Sidoti initiated coverage on shares of Sun Hydraulics in a research note on Thursday, September 14th. They issued a “neutral” rating for the company.

Sun Hydraulics (SNHY) opened at $58.02 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.96 and a current ratio of 2.62. Sun Hydraulics has a 1-year low of $34.17 and a 1-year high of $63.63. The firm has a market cap of $1,578.11, a price-to-earnings ratio of 40.20 and a beta of 1.79.

Sun Hydraulics (NASDAQ:SNHY) last released its quarterly earnings data on Monday, November 6th. The industrial products company reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.07. Sun Hydraulics had a net margin of 10.34% and a return on equity of 15.54%. The firm 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 company posted $0.19 earnings per share. The business’s revenue was up 94.7% on a year-over-year basis. equities analysts forecast that Sun Hydraulics will post 1.65 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Saturday, January 20th. Stockholders of record on Friday, January 5th will be paid a $0.09 dividend. The ex-dividend date is Thursday, January 4th. This represents a $0.36 annualized dividend and a dividend yield of 0.62%. Sun Hydraulics’s payout ratio is 30.25%.

Several hedge funds and other institutional investors have recently bought and sold shares of SNHY. Oppenheimer Asset Management Inc. grew its position in Sun Hydraulics by 191.8% during the third quarter. Oppenheimer Asset Management Inc. now owns 2,337 shares of the industrial products company’s stock valued at $126,000 after buying an additional 1,536 shares during the period. BNP Paribas Arbitrage SA grew its position in Sun Hydraulics by 542.0% during the second quarter. BNP Paribas Arbitrage SA now owns 3,486 shares of the industrial products company’s stock valued at $149,000 after buying an additional 2,943 shares during the period. Victory Capital Management Inc. grew its position in Sun Hydraulics by 17.6% during the second quarter. Victory Capital Management Inc. now owns 4,060 shares of the industrial products company’s stock valued at $173,000 after buying an additional 608 shares during the period. Aperio Group LLC bought a new position in Sun Hydraulics during the third quarter valued at about $201,000. Finally, Hartland & Co. LLC bought a new position in Sun Hydraulics during the third quarter valued at about $203,000. Hedge funds and other institutional investors own 79.46% of the company’s stock.

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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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