Spartan Motors, Inc. (SPAR) Expected to Announce Quarterly Sales of $167.83 Million
Equities analysts predict that Spartan Motors, Inc. (NASDAQ:SPAR) will announce sales of $167.83 million for the current quarter, Zacks reports. Three analysts have issued estimates for Spartan Motors’ earnings, with estimates ranging from $167.00 million to $168.50 million. Spartan Motors reported sales of $162.54 million during the same quarter last year, which indicates a positive year over year growth rate of 3.3%. The company is scheduled to report its next earnings results on Thursday, August 3rd.
On average, analysts expect that Spartan Motors will report full year sales of $167.83 million for the current financial year, with estimates ranging from $674.80 million to $678.08 million. For the next fiscal year, analysts anticipate that the firm will post sales of $692.43 million per share, with estimates ranging from $685.00 million to $701.10 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Spartan Motors.
Spartan Motors (NASDAQ:SPAR) last posted its quarterly earnings data on Thursday, May 4th. The company reported $0.04 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.04. Spartan Motors had a return on equity of 8.19% and a net margin of 1.12%. The firm had revenue of $167 million during the quarter, compared to the consensus estimate of $149.90 million. During the same period in the prior year, the company earned $0.02 EPS. The firm’s revenue was up 24.9% compared to the same quarter last year.
A number of analysts have commented on the company. Zacks Investment Research downgraded Spartan Motors from a “buy” rating to a “hold” rating in a research report on Tuesday, May 9th. Seaport Global Securities reiterated a “buy” rating and set a $10.00 target price on shares of Spartan Motors in a research report on Thursday, April 6th. Finally, TheStreet raised Spartan Motors from a “c” rating to a “b-” rating in a report on Monday, May 15th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Spartan Motors presently has a consensus rating of “Buy” and an average target price of $10.58.
Spartan Motors (NASDAQ SPAR) opened at 8.75 on Friday. Spartan Motors has a 1-year low of $6.16 and a 1-year high of $10.50. The firm has a market capitalization of $307.36 million, a P/E ratio of 43.53 and a beta of 1.11. The company has a 50-day moving average price of $8.66 and a 200 day moving average price of $8.30.
The business also recently declared a semiannual dividend, which was paid on Thursday, June 15th. Stockholders of record on Monday, May 15th were issued a $0.05 dividend. The ex-dividend date was Thursday, May 11th. This represents a dividend yield of 1.12%. Spartan Motors’s dividend payout ratio (DPR) is 47.62%.
TRADEMARK VIOLATION NOTICE: This piece was originally published by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another publication, it was illegally stolen and republished in violation of U.S. & international copyright & trademark legislation. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2017/07/08/spartan-motors-inc-spar-expected-to-announce-quarterly-sales-of-167-83-million-2.html.
In related news, Director Richard R. Current purchased 5,141 shares of the business’s stock in a transaction dated Wednesday, May 10th. The stock was bought at an average cost of $9.00 per share, with a total value of $46,269.00. Following the completion of the acquisition, the director now directly owns 90,000 shares in the company, valued at approximately $810,000. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Frederick J. Sohm purchased 5,000 shares of the business’s stock in a transaction dated Monday, May 8th. The stock was bought at an average cost of $8.94 per share, with a total value of $44,700.00. Following the completion of the acquisition, the chief financial officer now owns 157,327 shares of the company’s stock, valued at $1,406,503.38. The disclosure for this purchase can be found here. Insiders own 3.72% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in SPAR. Airain ltd bought a new position in Spartan Motors during the first quarter worth $114,000. Allianz Asset Management AG boosted its position in Spartan Motors by 18.7% in the fourth quarter. Allianz Asset Management AG now owns 43,645 shares of the company’s stock worth $404,000 after buying an additional 6,880 shares during the period. Highbridge Capital Management LLC bought a new position in Spartan Motors during the fourth quarter worth $246,000. Russell Investments Group Ltd. bought a new position in Spartan Motors during the fourth quarter worth $1,573,000. Finally, Renaissance Technologies LLC boosted its position in Spartan Motors by 20.4% in the fourth quarter. Renaissance Technologies LLC now owns 608,248 shares of the company’s stock worth $5,626,000 after buying an additional 103,000 shares during the period. 65.77% of the stock is owned by institutional investors.
About Spartan Motors
Spartan Motors, Inc is an engineer and manufacturer in the heavy-duty, custom vehicles marketplace. The Company operates through three segments: Emergency Response Vehicles, Delivery and Service Vehicles, and Specialty Chassis and Vehicles. The Company’s Emergency Response Vehicles segment engineers and manufactures emergency response chassis, emergency response bodies and aerial equipment.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Spartan Motors Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spartan Motors Inc. and related companies with MarketBeat.com's FREE daily email newsletter.