Brokerages Anticipate Simpson Manufacturing Company, Inc. (SSD) to Post $0.43 Earnings Per Share
Brokerages expect Simpson Manufacturing Company, Inc. (NYSE:SSD) to announce earnings of $0.43 per share for the current quarter, according to Zacks. Two analysts have provided estimates for Simpson Manufacturing’s earnings, with the lowest EPS estimate coming in at $0.41 and the highest estimate coming in at $0.44. Simpson Manufacturing reported earnings of $0.36 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 19.4%. The company is scheduled to announce its next quarterly earnings results on Thursday, February 1st.
According to Zacks, analysts expect that Simpson Manufacturing will report full year earnings of $2.12 per share for the current year, with EPS estimates ranging from $2.09 to $2.14. For the next fiscal year, analysts expect that the firm will post earnings of $2.22 per share, with EPS estimates ranging from $2.18 to $2.25. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Simpson Manufacturing.
Simpson Manufacturing (NYSE:SSD) last released its quarterly earnings results on Monday, October 30th. The construction company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.02). Simpson Manufacturing had a return on equity of 10.26% and a net margin of 10.78%. The firm had revenue of $262.50 million for the quarter, compared to analysts’ expectations of $261.27 million. During the same quarter in the prior year, the business earned $0.62 earnings per share. The company’s quarterly revenue was up 13.6% on a year-over-year basis.
Several analysts have recently issued reports on SSD shares. Zacks Investment Research raised shares of Simpson Manufacturing from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Robert W. Baird reissued a “hold” rating and set a $46.00 price objective on shares of Simpson Manufacturing in a research note on Friday, October 20th. DA Davidson raised shares of Simpson Manufacturing from a “neutral” rating to a “buy” rating in a research note on Tuesday. Finally, BidaskClub cut shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th.
In related news, insider Psb Fund Simpson sold 72,424 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $49.23, for a total transaction of $3,565,433.52. Following the completion of the sale, the insider now directly owns 1,266,213 shares of the company’s stock, valued at approximately $62,335,665.99. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Sharon H. Simpson sold 29,593 shares of the company’s stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $49.20, for a total transaction of $1,455,975.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 885,997 shares of company stock valued at $14,577,432,171. 0.36% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in SSD. Parametric Portfolio Associates LLC boosted its position in Simpson Manufacturing by 4.2% during the 1st quarter. Parametric Portfolio Associates LLC now owns 73,123 shares of the construction company’s stock worth $3,151,000 after purchasing an additional 2,971 shares during the period. Victory Capital Management Inc. boosted its position in Simpson Manufacturing by 49.8% during the 1st quarter. Victory Capital Management Inc. now owns 5,095 shares of the construction company’s stock worth $220,000 after purchasing an additional 1,693 shares during the period. OppenheimerFunds Inc. boosted its position in Simpson Manufacturing by 33.3% during the 1st quarter. OppenheimerFunds Inc. now owns 15,746 shares of the construction company’s stock worth $679,000 after purchasing an additional 3,937 shares during the period. Principal Financial Group Inc. boosted its position in Simpson Manufacturing by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 325,746 shares of the construction company’s stock worth $14,036,000 after purchasing an additional 8,473 shares during the period. Finally, FMR LLC boosted its position in Simpson Manufacturing by 0.4% during the 1st quarter. FMR LLC now owns 642,274 shares of the construction company’s stock worth $27,676,000 after purchasing an additional 2,340 shares during the period. 84.09% of the stock is owned by hedge funds and other institutional investors.
Simpson Manufacturing (SSD) traded up 14.62% on Thursday, hitting $55.74. The stock had a trading volume of 1,422,478 shares. Simpson Manufacturing has a one year low of $39.82 and a one year high of $59.71. The company’s 50-day moving average price is $48.61 and its 200 day moving average price is $44.30. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 27.19 and a beta of 1.40.
Simpson Manufacturing announced that its Board of Directors has authorized a share repurchase program on Wednesday, August 2nd that allows the company to buyback $150.00 million in shares. This buyback authorization allows the construction company to repurchase up to 7.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Thursday, January 4th will be paid a dividend of $0.21 per share. The ex-dividend date is Wednesday, January 3rd. This represents a $0.84 annualized dividend and a dividend yield of 1.51%. Simpson Manufacturing’s dividend payout ratio is presently 40.98%.
About Simpson Manufacturing
Simpson Manufacturing Co, Inc, through its subsidiary, Simpson Strong-Tie Company Inc (SST), designs, engineers and manufactures wood construction products, including connectors, truss plates, fastening systems, fasteners and pre-fabricated lateral systems used in light-frame construction. The Company’s segments are North America, Europe, Asia/Pacific, and Administrative & All Other.
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