Zacks: Brokerages Expect Sanmina Corp (NASDAQ:SANM) to Post $0.78 EPS

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Wall Street brokerages expect that Sanmina Corp (NASDAQ:SANM) will announce earnings per share (EPS) of $0.78 for the current fiscal quarter, according to Zacks. Zero analysts have issued estimates for Sanmina’s earnings. Sanmina reported earnings of $0.67 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 16.4%. The firm is scheduled to announce its next earnings results on Monday, November 4th.

According to Zacks, analysts expect that Sanmina will report full-year earnings of $3.34 per share for the current fiscal year. For the next year, analysts expect that the company will report earnings of $3.71 per share. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Sanmina.

Sanmina (NASDAQ:SANM) last announced its earnings results on Monday, July 29th. The electronics maker reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.05. Sanmina had a return on equity of 13.98% and a net margin of 1.55%. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the prior year, the company earned $0.55 EPS. The business’s revenue was up 11.8% compared to the same quarter last year.

Several brokerages recently commented on SANM. BidaskClub upgraded shares of Sanmina from a “sell” rating to a “hold” rating in a research note on Thursday, September 12th. Zacks Investment Research lowered shares of Sanmina from a “hold” rating to a “sell” rating in a research report on Tuesday, September 17th. Finally, ValuEngine lowered shares of Sanmina from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $33.00.

NASDAQ:SANM traded up $0.07 during midday trading on Friday, hitting $31.27. 7,852 shares of the company were exchanged, compared to its average volume of 292,164. The company has a fifty day simple moving average of $30.93 and a 200 day simple moving average of $30.44. Sanmina has a fifty-two week low of $22.30 and a fifty-two week high of $34.71. The company has a current ratio of 1.64, a quick ratio of 1.14 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $2.15 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 0.69 and a beta of 1.35.

In other Sanmina news, SVP Brent Billinger sold 931 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $30.12, for a total value of $28,041.72. Following the completion of the transaction, the senior vice president now directly owns 20,877 shares in the company, valued at $628,815.24. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 5.55% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its position in Sanmina by 4.4% in the second quarter. BlackRock Inc. now owns 11,043,399 shares of the electronics maker’s stock worth $334,393,000 after purchasing an additional 467,702 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Sanmina by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 7,026,150 shares of the electronics maker’s stock worth $212,753,000 after purchasing an additional 44,305 shares during the last quarter. Earnest Partners LLC lifted its position in shares of Sanmina by 1.2% during the 2nd quarter. Earnest Partners LLC now owns 3,034,468 shares of the electronics maker’s stock worth $91,884,000 after purchasing an additional 36,179 shares during the last quarter. Nuveen Asset Management LLC purchased a new stake in shares of Sanmina during the 2nd quarter worth $38,749,000. Finally, Renaissance Technologies LLC lifted its position in shares of Sanmina by 13.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,088,341 shares of the electronics maker’s stock worth $32,955,000 after purchasing an additional 126,800 shares during the last quarter. Institutional investors own 92.98% of the company’s stock.

About Sanmina

Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. It operates in two segments, Integrated Manufacturing Solutions; and Components, Products and Services. The company offers product design and engineering, including concept development, detailed design, prototyping, validation, preproduction, and manufacturing design release; manufacturing solutions of components, subassemblies, and complete systems; final system assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services.

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