Sanmina Corporation (SANM) Set to Announce Quarterly Earnings on Monday
Sanmina Corporation (NASDAQ:SANM) is scheduled to announce its earnings results after the market closes on Monday, October 30th. Analysts expect the company to announce earnings of $0.76 per share for the quarter.
Sanmina Corporation (NASDAQ:SANM) last announced its earnings results on Monday, July 24th. The electronics maker reported $0.74 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.01). Sanmina Corporation had a net margin of 3.15% and a return on equity of 12.35%. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the previous year, the company earned $0.63 earnings per share. The business’s revenue was up 2.5% on a year-over-year basis. On average, analysts expect Sanmina Corporation to post $2.56 EPS for the current fiscal year and $3.24 EPS for the next fiscal year.
Shares of Sanmina Corporation (NASDAQ:SANM) opened at 38.50 on Monday. The company has a 50-day moving average price of $37.67 and a 200 day moving average price of $37.74. The company has a market capitalization of $2.90 billion, a PE ratio of 14.06 and a beta of 0.79. Sanmina Corporation has a one year low of $26.95 and a one year high of $42.95.
Sanmina Corporation declared that its board has initiated a stock repurchase program on Monday, September 18th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the electronics maker to purchase up to 77% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
Several research firms recently issued reports on SANM. Needham & Company LLC restated a “buy” rating and set a $45.00 price target on shares of Sanmina Corporation in a research report on Wednesday, October 4th. ValuEngine lowered Sanmina Corporation from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 2nd. Zacks Investment Research upgraded Sanmina Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $40.00 price target on shares of Sanmina Corporation in a research report on Friday, September 1st. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $43.25.
In other news, VP Robert K. Eulau sold 10,000 shares of Sanmina Corporation stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $37.21, for a total value of $372,100.00. Following the sale, the vice president now directly owns 180,000 shares in the company, valued at approximately $6,697,800. The sale was disclosed in a filing with the SEC, which is available through this link. 4.96% of the stock is currently owned by company insiders.
About Sanmina Corporation
Sanmina Corporation is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services. The Company provides its offerings primarily to original equipment manufacturers (OEMs) in various industries, including communications networks, storage, industrial, defense and aerospace, medical and energy.
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