$0.22 Earnings Per Share Expected for Spartan Motors, Inc. (SPAR) This Quarter
Equities analysts predict that Spartan Motors, Inc. (NASDAQ:SPAR) will post earnings of $0.22 per share for the current quarter, according to Zacks. Three analysts have made estimates for Spartan Motors’ earnings. The highest EPS estimate is $0.25 and the lowest is $0.17. Spartan Motors reported earnings of $0.10 per share in the same quarter last year, which indicates a positive year over year growth rate of 120%. The business is expected to announce its next quarterly earnings report on Thursday, November 2nd.
On average, analysts expect that Spartan Motors will report full year earnings of $0.50 per share for the current financial year, with EPS estimates ranging from $0.49 to $0.50. For the next fiscal year, analysts anticipate that the business will post earnings of $0.56 per share, with EPS estimates ranging from $0.55 to $0.58. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Spartan Motors.
Spartan Motors (NASDAQ:SPAR) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.01. Spartan Motors had a net margin of 0.59% and a return on equity of 5.57%. The business had revenue of $169.70 million for the quarter, compared to analyst estimates of $167.83 million. During the same period in the prior year, the business posted $0.19 earnings per share. Spartan Motors’s revenue was up 4.4% compared to the same quarter last year.
SPAR has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of Spartan Motors from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. TheStreet upgraded shares of Spartan Motors from a “c” rating to a “b-” rating in a research report on Monday, May 15th. BidaskClub downgraded shares of Spartan Motors from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 27th. Finally, Roth Capital set a $12.00 price target on shares of Spartan Motors and gave the stock a “buy” rating in a research report on Tuesday, August 1st. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $10.67.
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A number of hedge funds have recently made changes to their positions in SPAR. Mesirow Financial Investment Management Inc. acquired a new stake in shares of Spartan Motors during the second quarter worth approximately $477,000. The Manufacturers Life Insurance Company raised its stake in shares of Spartan Motors by 15.5% in the second quarter. The Manufacturers Life Insurance Company now owns 30,895 shares of the company’s stock worth $273,000 after buying an additional 4,145 shares during the period. State Street Corp raised its stake in shares of Spartan Motors by 11.6% in the second quarter. State Street Corp now owns 532,969 shares of the company’s stock worth $4,719,000 after buying an additional 55,350 shares during the period. Cornerstone Capital Management Holdings LLC. raised its stake in shares of Spartan Motors by 0.8% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 256,550 shares of the company’s stock worth $2,270,000 after buying an additional 2,000 shares during the period. Finally, Intrinsic Edge Capital Management LLC raised its stake in shares of Spartan Motors by 58.7% in the second quarter. Intrinsic Edge Capital Management LLC now owns 254,384 shares of the company’s stock worth $2,251,000 after buying an additional 94,122 shares during the period. Institutional investors and hedge funds own 64.72% of the company’s stock.
Shares of Spartan Motors (SPAR) traded down 0.57% during trading on Thursday, reaching $8.65. 170,015 shares of the company traded hands. The company has a 50 day moving average price of $8.90 and a 200 day moving average price of $8.26. Spartan Motors has a 12-month low of $6.30 and a 12-month high of $10.50. The firm has a market capitalization of $303.55 million, a price-to-earnings ratio of 80.84 and a beta of 1.11.
Spartan Motors Company Profile
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.
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