Piper Sandler Companies (NYSE:PIPR) Stock Has Consensus Target Price of $90.81 According to Brokerages

Key Points

• Analysts have a consensus “Hold” rating on Piper Sandler Companies, with three buys, two holds and one sell. The average 12-month price target is $90.81, above the stock’s reported $64.81 price.
• Piper Sandler exceeded quarterly expectations, reporting adjusted EPS of $1.04 versus the $0.88 consensus and revenue of $491.14 million versus $445.28 million expected. Revenue increased 24.9% year over year.
• The company declared a quarterly dividend of $0.20 per share, equivalent to $0.80 annually and a 1.2% yield; institutional investors and hedge funds own 72.79% of outstanding shares.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) has been given a consensus recommendation of "Hold" by the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $90.81.

A number of research analysts recently commented on the company. The Goldman Sachs Group set a $80.00 price target on Piper Sandler Companies and gave the company a "buy" rating in a report on Thursday, October 1st. Weiss Ratings restated a "hold (c+)" rating on shares of Piper Sandler Companies in a report on Monday, August 17th.

Piper Sandler Companies Price Performance

NYSE:PIPR opened at $64.81 on Tuesday. The firm has a 50-day moving average of $72.84 and a two-hundred day moving average of $76.90. The stock has a market cap of $4.58 billion, a P/E ratio of 15.02, a PEG ratio of 1.53 and a beta of 1.43. Piper Sandler Companies has a 1-year low of $62.69 and a 1-year high of $95.07.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.16. Piper Sandler Companies had a return on equity of 21.92% and a net margin of 14.51%. The business had revenue of $491.14 million for the quarter, compared to analyst estimates of $445.28 million. During the same period in the previous year, the company earned $2.92 earnings per share. The company's revenue for the quarter was up 24.9% compared to the same quarter last year. As a group, equities analysts expect that Piper Sandler Companies will post 4.44 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 28th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, August 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.2%. Piper Sandler Companies's dividend payout ratio (DPR) is presently 18.52%.

Institutional Trading of Piper Sandler Companies

Several institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP acquired a new stake in shares of Piper Sandler Companies in the 2nd quarter valued at about $13,753,000. WINTON GROUP Ltd bought a new position in shares of Piper Sandler Companies during the second quarter worth about $9,445,000. One Capital Management LLC bought a new position in shares of Piper Sandler Companies during the second quarter worth about $2,288,000. Y Intercept Hong Kong Ltd bought a new position in shares of Piper Sandler Companies during the first quarter worth about $1,535,000. Finally, Arizona State Retirement System acquired a new position in Piper Sandler Companies in the second quarter worth about $1,387,000. 72.79% of the stock is owned by institutional investors and hedge funds.

About Piper Sandler Companies

Piper Sandler Companies NYSE: PIPR is a U.S.-based investment bank and financial services firm that provides capital markets and advisory services to corporations, financial institutions, public entities and other organizations. Its activities include investment banking, mergers and acquisitions advisory, equity and debt offerings, private placements, restructuring advice and strategic consulting.

The company also offers institutional securities services, including equity and fixed-income research, sales and trading, and municipal finance capabilities.

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