$106.57 Million in Sales Expected for Student Transportation Inc (STB) This Quarter
Wall Street brokerages forecast that Student Transportation Inc (NASDAQ:STB) (TSE:STB) will post sales of $106.57 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Student Transportation’s earnings. The highest sales estimate is $108.30 million and the lowest is $102.90 million. Student Transportation posted sales of $102.18 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.3%. The firm is scheduled to announce its next earnings results on Tuesday, November 14th.
According to Zacks, analysts expect that Student Transportation will report full year sales of $106.57 million for the current financial year, with estimates ranging from $655.30 million to $677.00 million. For the next fiscal year, analysts anticipate that the company will post sales of $715.61 million per share, with estimates ranging from $712.00 million to $717.95 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Student Transportation.
STB has been the subject of several recent research reports. BMO Capital Markets lowered their price target on shares of Student Transportation from $8.25 to $7.60 and set a “market perform” rating for the company in a research note on Friday, September 22nd. BidaskClub raised shares of Student Transportation from a “hold” rating to a “buy” rating in a research note on Sunday, September 24th. Zacks Investment Research raised shares of Student Transportation from a “sell” rating to a “hold” rating in a research note on Thursday, July 20th. Stifel Nicolaus reissued a “buy” rating and issued a $6.50 price target on shares of Student Transportation in a research note on Friday, September 22nd. Finally, National Bank Financial raised shares of Student Transportation from a “sector perform” rating to an “outperform” rating in a research note on Thursday, September 21st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $6.84.
The company also recently declared a monthly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st will be issued a dividend of $0.0367 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 7.48%. The ex-dividend date is Monday, October 30th. Student Transportation’s payout ratio is 628.66%.
Several large investors have recently bought and sold shares of STB. Stifel Financial Corp boosted its holdings in Student Transportation by 26.1% in the first quarter. Stifel Financial Corp now owns 46,606 shares of the transportation company’s stock worth $274,000 after purchasing an additional 9,651 shares during the last quarter. UBS Group AG raised its position in shares of Student Transportation by 2.7% during the 1st quarter. UBS Group AG now owns 51,403 shares of the transportation company’s stock valued at $301,000 after purchasing an additional 1,355 shares during the period. Morgan Stanley raised its position in shares of Student Transportation by 0.8% during the 1st quarter. Morgan Stanley now owns 1,032,678 shares of the transportation company’s stock valued at $6,052,000 after purchasing an additional 7,912 shares during the period. Renaissance Technologies LLC raised its position in shares of Student Transportation by 10.1% during the 1st quarter. Renaissance Technologies LLC now owns 1,485,671 shares of the transportation company’s stock valued at $8,706,000 after purchasing an additional 136,427 shares during the period. Finally, Credit Suisse AG raised its position in shares of Student Transportation by 5.1% during the 1st quarter. Credit Suisse AG now owns 60,783 shares of the transportation company’s stock valued at $356,000 after purchasing an additional 2,938 shares during the period. Hedge funds and other institutional investors own 25.61% of the company’s stock.
About Student Transportation
Student Transportation Inc is a Canada-based company engaged in providing school bus transportation services in North America. The Company provides school bus and management services to public and private schools in North America and offers services, such as contracted services, special needs transportation, charter services, direct to parent and used bus sales.
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