Brokerages Expect Sanmina Corporation (SANM) Will Announce Earnings of $0.70 Per Share
Wall Street brokerages expect Sanmina Corporation (NASDAQ:SANM) to announce earnings of $0.70 per share for the current quarter, according to Zacks. Zero analysts have made estimates for Sanmina Corporation’s earnings. The lowest EPS estimate is $0.69 and the highest is $0.71. Sanmina Corporation reported earnings of $0.75 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 6.7%. The firm is expected to report its next earnings report on Monday, January 29th.
On average, analysts expect that Sanmina Corporation will report full-year earnings of $3.09 per share for the current financial year, with EPS estimates ranging from $3.07 to $3.10. For the next financial year, analysts expect that the company will post earnings of $3.62 per share. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Sanmina Corporation.
Sanmina Corporation (NASDAQ:SANM) last released its quarterly earnings data on Monday, October 30th. The electronics maker reported $0.64 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.12). The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Sanmina Corporation had a return on equity of 12.27% and a net margin of 2.02%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.72 EPS.
Several research analysts have weighed in on the company. Argus lowered Sanmina Corporation from a “buy” rating to a “hold” rating in a research report on Thursday. Bank of America Corporation lowered Sanmina Corporation from a “buy” rating to a “neutral” rating in a research report on Tuesday. Zacks Investment Research lowered Sanmina Corporation from a “hold” rating to a “strong sell” rating in a research report on Friday. ValuEngine lowered Sanmina Corporation from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, Royal Bank Of Canada lowered their price target on Sanmina Corporation from $42.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Sanmina Corporation has a consensus rating of “Hold” and an average price target of $43.25.
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Sanmina Corporation (SANM) opened at $33.05 on Friday. The firm has a market cap of $2,532.50, a PE ratio of 12.58, a PEG ratio of 0.94 and a beta of 0.77. The company has a quick ratio of 1.01, a current ratio of 1.62 and a debt-to-equity ratio of 0.24.
Sanmina Corporation declared that its board has authorized a share repurchase program on Monday, September 18th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the electronics maker to repurchase up to 77% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
In related news, VP Robert K. Eulau sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $37.21, for a total transaction of $372,100.00. Following the transaction, the vice president now directly owns 180,000 shares of the company’s stock, valued at approximately $6,697,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.96% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of SANM. LS Investment Advisors LLC increased its holdings in shares of Sanmina Corporation by 4.1% during the 2nd quarter. LS Investment Advisors LLC now owns 3,498 shares of the electronics maker’s stock worth $133,000 after acquiring an additional 138 shares during the last quarter. Riverhead Capital Management LLC increased its holdings in shares of Sanmina Corporation by 70.7% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,927 shares of the electronics maker’s stock worth $150,000 after acquiring an additional 1,627 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in shares of Sanmina Corporation during the 2nd quarter worth approximately $203,000. Nisa Investment Advisors LLC increased its holdings in shares of Sanmina Corporation by 3.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 5,440 shares of the electronics maker’s stock worth $207,000 after acquiring an additional 200 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new position in shares of Sanmina Corporation during the 2nd quarter worth approximately $212,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.
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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