Zacks: Brokerages Expect Sun Hydraulics Co. (SNHY) Will Post Quarterly Sales of $140.92 Million

Wall Street analysts expect Sun Hydraulics Co. (NASDAQ:SNHY) to report $140.92 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Sun Hydraulics’ earnings. The lowest sales estimate is $139.10 million and the highest is $144.80 million. Sun Hydraulics posted sales of $89.34 million in the same quarter last year, which would indicate a positive year over year growth rate of 57.7%. The firm is expected to report its next earnings results on Monday, August 6th.

According to Zacks, analysts expect that Sun Hydraulics will report full year sales of $498.10 million for the current year, with estimates ranging from $496.80 million to $500.50 million. For the next year, analysts forecast that the firm will report sales of $578.80 million per share, with estimates ranging from $569.30 million to $594.30 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Sun Hydraulics.

Sun Hydraulics (NASDAQ:SNHY) last posted its quarterly earnings data on Tuesday, May 8th. The industrial products company reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.02). The company had revenue of $97.30 million for the quarter, compared to analysts’ expectations of $94.81 million. Sun Hydraulics had a net margin of 9.27% and a return on equity of 14.12%. The firm’s revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.43 earnings per share.

A number of equities analysts have recently issued reports on SNHY shares. William Blair started coverage on Sun Hydraulics in a research note on Friday, February 23rd. They set an “outperform” rating for the company. ValuEngine downgraded Sun Hydraulics from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. BidaskClub raised Sun Hydraulics from a “sell” rating to a “hold” rating in a research note on Friday, March 23rd. Stifel Nicolaus started coverage on Sun Hydraulics in a research note on Friday, March 23rd. They set a “buy” rating and a $61.00 target price for the company. Finally, Robert W. Baird cut their target price on Sun Hydraulics from $64.00 to $55.00 and set a “hold” rating for the company in a research note on Monday, April 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Sun Hydraulics has an average rating of “Hold” and a consensus target price of $60.60.

SNHY traded down $0.36 on Monday, hitting $51.35. 167,400 shares of the company traded hands, compared to its average volume of 212,046. The company has a market cap of $1.64 billion, a PE ratio of 32.32 and a beta of 1.69. Sun Hydraulics has a 12-month low of $40.82 and a 12-month high of $70.83.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 20th. Stockholders of record on Thursday, July 5th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Tuesday, July 3rd. Sun Hydraulics’s dividend payout ratio (DPR) is 22.50%.

In related news, Director Christine L. Koski sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 30th. The stock was sold at an average price of $50.63, for a total value of $1,772,050.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Christine L. Koski sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, May 17th. The stock was sold at an average price of $49.20, for a total value of $1,230,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 85,000 shares of company stock valued at $4,263,800. Company insiders own 7.80% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SNHY. Wasatch Advisors Inc. grew its holdings in shares of Sun Hydraulics by 40.5% in the 1st quarter. Wasatch Advisors Inc. now owns 2,065,693 shares of the industrial products company’s stock worth $110,639,000 after acquiring an additional 595,852 shares during the period. Ceredex Value Advisors LLC acquired a new stake in shares of Sun Hydraulics in the 1st quarter worth approximately $20,448,000. Royal Bank of Canada grew its holdings in shares of Sun Hydraulics by 112.4% in the 1st quarter. Royal Bank of Canada now owns 562,455 shares of the industrial products company’s stock worth $30,125,000 after acquiring an additional 297,681 shares during the period. Bamco Inc. NY grew its holdings in shares of Sun Hydraulics by 900.0% in the 1st quarter. Bamco Inc. NY now owns 250,000 shares of the industrial products company’s stock worth $13,390,000 after acquiring an additional 225,000 shares during the period. Finally, Federated Investors Inc. PA grew its holdings in shares of Sun Hydraulics by 181,718.2% in the 1st quarter. Federated Investors Inc. PA now owns 180,000 shares of the industrial products company’s stock worth $9,641,000 after acquiring an additional 179,901 shares during the period. Institutional investors and hedge funds own 82.59% of the company’s stock.

Sun Hydraulics Company Profile

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

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