Helios Technologies (NASDAQ:HLIO) Shares Gap Up After Better-Than-Expected Earnings

Shares of Helios Technologies, Inc. (NASDAQ:HLIO - Get Free Report) gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $27.13, but opened at $28.99. Helios Technologies shares last traded at $28.89, with a volume of 87,002 shares.

The company reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.08. Helios Technologies had a net margin of 4.57% and a return on equity of 8.22%. The business's revenue for the quarter was down 7.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.53 earnings per share.

Helios Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 22nd. Investors of record on Friday, April 4th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, April 4th. This represents a $0.36 annualized dividend and a yield of 1.24%. Helios Technologies's dividend payout ratio (DPR) is 30.77%.

Helios Technologies declared that its Board of Directors has authorized a stock buyback program on Monday, February 24th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 7.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus cut their price target on Helios Technologies from $58.00 to $35.00 and set a "buy" rating for the company in a report on Monday, April 14th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Barclays PLC lifted its stake in Helios Technologies by 230.1% in the 3rd quarter. Barclays PLC now owns 57,451 shares of the company's stock worth $2,740,000 after purchasing an additional 40,048 shares in the last quarter. Sara Bay Financial boosted its stake in Helios Technologies by 25.5% during the fourth quarter. Sara Bay Financial now owns 1,217,467 shares of the company's stock valued at $54,080,000 after buying an additional 247,088 shares during the last quarter. Ameritas Advisory Services LLC purchased a new position in Helios Technologies during the 4th quarter valued at approximately $315,000. SG Americas Securities LLC increased its stake in Helios Technologies by 16.0% in the 4th quarter. SG Americas Securities LLC now owns 13,479 shares of the company's stock worth $602,000 after acquiring an additional 1,863 shares during the last quarter. Finally, Inspire Investing LLC raised its holdings in shares of Helios Technologies by 3.5% during the 4th quarter. Inspire Investing LLC now owns 8,955 shares of the company's stock worth $400,000 after acquiring an additional 301 shares in the last quarter. 94.72% of the stock is owned by hedge funds and other institutional investors.

Helios Technologies Stock Up 6.6 %

The business has a 50-day moving average price of $31.24 and a 200 day moving average price of $41.45. The stock has a market capitalization of $964.29 million, a P/E ratio of 25.57 and a beta of 1.22. The company has a current ratio of 3.03, a quick ratio of 1.54 and a debt-to-equity ratio of 0.52.

Helios Technologies Company Profile

Helios Technologies, Inc, together with its subsidiaries, provides engineered motion control and electronic control technology solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Hydraulics and Electronics. The Hydraulics segment offers cartridge valve technology products to control rates and direction of fluid flow, and to regulate and control pressures for industrial and mobile applications; hydraulic quick release coupling solutions for the agriculture, construction equipment, and industrial markets; motion control technology and fluid conveyance technology; cartridge valve technology; engineered solutions for machine users, manufacturers, or designers.

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