Wall Street analysts expect Standex Int’l Corp. (NYSE:SXI) to announce $235.78 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Standex Int’l’s earnings. The lowest sales estimate is $234.56 million and the highest is $237.00 million. Standex Int’l reported sales of $217.09 million in the same quarter last year, which indicates a positive year-over-year growth rate of 8.6%. The business is expected to announce its next earnings report on Monday, August 27th.
On average, analysts expect that Standex Int’l will report full year sales of $876.62 million for the current financial year, with estimates ranging from $875.44 million to $877.80 million. For the next fiscal year, analysts expect that the company will report sales of $926.55 million per share, with estimates ranging from $912.60 million to $940.50 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Standex Int’l.
SXI has been the subject of a number of research reports. TheStreet upgraded Standex Int’l from a “c+” rating to a “b” rating in a research report on Tuesday, May 1st. B. Riley set a $125.00 price objective on Standex Int’l and gave the stock a “buy” rating in a research report on Monday, May 21st. Zacks Investment Research upgraded Standex Int’l from a “sell” rating to a “hold” rating in a research report on Friday, June 8th. Finally, ValuEngine upgraded Standex Int’l from a “sell” rating to a “hold” rating in a research report on Thursday, May 17th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $115.67.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 24th. Stockholders of record on Thursday, August 9th will be issued a $0.18 dividend. The ex-dividend date is Wednesday, August 8th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.66%. Standex Int’l’s payout ratio is presently 15.82%.
In other news, Director Gerald H. Fickenscher sold 2,000 shares of the stock in a transaction that occurred on Tuesday, May 22nd. The stock was sold at an average price of $101.65, for a total value of $203,300.00. Following the completion of the transaction, the director now directly owns 8,867 shares of the company’s stock, valued at approximately $901,330.55. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.70% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of SXI. SG Americas Securities LLC acquired a new stake in Standex Int’l during the 1st quarter valued at $123,000. Ramsey Quantitative Systems increased its holdings in Standex Int’l by 135.6% during the 2nd quarter. Ramsey Quantitative Systems now owns 1,237 shares of the industrial products company’s stock valued at $126,000 after purchasing an additional 712 shares in the last quarter. Profund Advisors LLC acquired a new stake in Standex Int’l during the 1st quarter valued at $204,000. Amalgamated Bank acquired a new stake in Standex Int’l during the 2nd quarter valued at $208,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Standex Int’l during the 2nd quarter valued at $277,000. 86.64% of the stock is owned by institutional investors and hedge funds.
About Standex Int’l
Standex International Corporation manufactures and sells various products and services for commercial and industrial markets in the United States and internationally. The company's Food Service Equipment segment offers refrigerated cabinets, cases, display units, coolers and freezers, ovens, char broilers, ranges, griddles, toasters, warmers, roller grills, countertop merchandisers, cook and hold units, rotisseries, pressure fryers, deep fryers, baking equipment, pump systems, and display cases.
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