$83.73 Million in Sales Expected for Sun Hydraulics Co. (SNHY) This Quarter

Brokerages expect Sun Hydraulics Co. (NASDAQ:SNHY) to report sales of $83.73 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Sun Hydraulics’ earnings. The highest sales estimate is $83.90 million and the lowest is $83.50 million. Sun Hydraulics posted sales of $49.87 million during the same quarter last year, which suggests a positive year over year growth rate of 67.9%. The company is scheduled to report its next quarterly earnings results after the market closes on Monday, February 26th.

On average, analysts expect that Sun Hydraulics will report full-year sales of $83.73 million for the current fiscal year, with estimates ranging from $342.20 million to $342.50 million. For the next fiscal year, analysts anticipate that the firm will post sales of $381.73 million per share, with estimates ranging from $372.00 million to $392.90 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Sun Hydraulics.

SNHY has been the subject of several research reports. Zacks Investment Research upgraded shares of Sun Hydraulics from a “hold” rating to a “strong-buy” rating and set a $63.00 price objective for the company in a research report on Tuesday, October 17th. BidaskClub lowered shares of Sun Hydraulics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 6th. KeyCorp initiated coverage on shares of Sun Hydraulics in a research note on Monday, February 5th. They issued an “overweight” rating and a $67.00 target price on the stock. Finally, SunTrust Banks initiated coverage on shares of Sun Hydraulics in a research note on Monday, February 5th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $61.67.

Institutional investors and hedge funds have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. raised its stake in shares of Sun Hydraulics by 191.8% in the third quarter. Oppenheimer Asset Management Inc. now owns 2,337 shares of the industrial products company’s stock valued at $126,000 after acquiring an additional 1,536 shares during the period. Simplex Trading LLC purchased a new stake in shares of Sun Hydraulics in the fourth quarter valued at $156,000. Aperio Group LLC purchased a new stake in shares of Sun Hydraulics in the third quarter valued at $201,000. Hartland & Co. LLC purchased a new stake in shares of Sun Hydraulics in the third quarter valued at $203,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Sun Hydraulics in the third quarter valued at $228,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Sun Hydraulics (NASDAQ SNHY) opened at $52.94 on Friday. Sun Hydraulics has a 12-month low of $34.17 and a 12-month high of $70.83. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.96 and a current ratio of 2.62. The company has a market cap of $1,655.38, a price-to-earnings ratio of 44.49 and a beta of 1.68.

The company also recently announced a quarterly dividend, which was paid on Saturday, January 20th. Stockholders of record on Friday, January 5th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.68%. The ex-dividend date was Thursday, January 4th. Sun Hydraulics’s dividend payout ratio is currently 30.25%.

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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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Earnings History and Estimates for Sun Hydraulics (NASDAQ:SNHY)

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