Analysts Expect Sun Hydraulics Co. (SNHY) Will Post Quarterly Sales of $83.73 Million

Analysts predict that Sun Hydraulics Co. (NASDAQ:SNHY) will report sales of $83.73 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Sun Hydraulics’ earnings, with the lowest sales estimate coming in at $83.50 million and the highest estimate coming in at $83.90 million. Sun Hydraulics reported sales of $49.87 million during the same quarter last year, which indicates a positive year over year growth rate of 67.9%. The firm is scheduled to issue its next earnings results after the market closes on Monday, February 26th.

On average, analysts expect that Sun Hydraulics will report full-year sales of $83.73 million for the current year, with estimates ranging from $342.20 million to $342.50 million. For the next year, analysts forecast that the business will post sales of $381.73 million per share, with estimates ranging from $372.00 million to $392.90 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Sun Hydraulics.

SNHY has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Sun Hydraulics from a “hold” rating to a “strong-buy” rating and set a $63.00 price target for the company in a report on Tuesday, October 17th. BidaskClub cut Sun Hydraulics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 6th. KeyCorp initiated coverage on Sun Hydraulics in a report on Monday, February 5th. They set an “overweight” rating and a $67.00 price target for the company. Finally, SunTrust Banks initiated coverage on Sun Hydraulics in a report on Monday, February 5th. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Sun Hydraulics has a consensus rating of “Hold” and a consensus price target of $61.67.

Large investors have recently modified their holdings of the company. Oppenheimer Asset Management Inc. boosted its holdings in shares of Sun Hydraulics by 191.8% during the third quarter. Oppenheimer Asset Management Inc. now owns 2,337 shares of the industrial products company’s stock worth $126,000 after acquiring an additional 1,536 shares during the period. Simplex Trading LLC bought a new stake in shares of Sun Hydraulics during the fourth quarter worth approximately $156,000. Aperio Group LLC bought a new stake in shares of Sun Hydraulics during the third quarter worth approximately $201,000. Hartland & Co. LLC bought a new stake in shares of Sun Hydraulics during the third quarter worth approximately $203,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Sun Hydraulics during the third quarter worth approximately $228,000. Institutional investors own 82.44% of the company’s stock.

Sun Hydraulics (NASDAQ:SNHY) opened at $52.94 on Friday. Sun Hydraulics has a 1-year low of $34.17 and a 1-year high of $70.83. The company has a current ratio of 2.62, a quick ratio of 1.96 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $1,655.38, a PE ratio of 44.49 and a beta of 1.68.

The company also recently disclosed a quarterly dividend, which was paid on Saturday, January 20th. Stockholders of record on Friday, January 5th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date was Thursday, January 4th. Sun Hydraulics’s dividend payout ratio is presently 30.25%.

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About Sun Hydraulics

Sun Hydraulics Corporation (Sun) develops and manufactures solutions for the hydraulics and electronics markets. It is engaged in power controls and vehicle technologies lines of business. The Company operates through two segments including hydraulics and electronics. Hydraulics market segment is engaged in manufacturing of screw-in hydraulic cartridge valves, electro-hydraulics, manifolds, and integrated package solutions for the worldwide industrial and mobile hydraulics markets operating under the brand Sun Hydraulics.

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Earnings History and Estimates for Sun Hydraulics (NASDAQ:SNHY)

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