Piper Sandler Companies (NYSE:PIPR) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Analyst consensus is “Hold” for Piper Sandler Companies, based on six brokerages: three rate it a buy, two a hold and one a sell. The average 12-month price target is $95.06, compared with a recent price of $75.13.
• Piper Sandler reported second-quarter earnings of $1.04 per share, beating estimates of $0.88, while revenue rose 24.9% year over year to $491.14 million. Analysts expect full-year EPS of $4.51.
• The company declared a quarterly dividend of $0.20 per share, equal to an annualized $0.80 payout and a 1.1% yield; institutional investors own 72.79% of the stock.

Shares of Piper Sandler Companies (NYSE:PIPR - Get Free Report) have received an average recommendation of "Hold" from the six brokerages that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $95.0625.

Separately, Weiss Ratings restated a "hold (c+)" rating on shares of Piper Sandler Companies in a research note on Monday, August 17th.

Hedge Funds Weigh In On Piper Sandler Companies

Large investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its holdings in shares of Piper Sandler Companies by 89.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 74 shares of the company's stock worth $25,000 after buying an additional 35 shares during the period. Aster Capital Management DIFC Ltd raised its holdings in Piper Sandler Companies by 1,440.0% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 77 shares of the company's stock valued at $26,000 after acquiring an additional 72 shares during the period. Los Angeles Capital Management LLC bought a new position in Piper Sandler Companies in the 4th quarter valued at about $28,000. UMB Bank n.a. lifted its position in Piper Sandler Companies by 55.2% during the fourth quarter. UMB Bank n.a. now owns 90 shares of the company's stock worth $31,000 after acquiring an additional 32 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its position in Piper Sandler Companies by 296.5% during the first quarter. Sterling Capital Management LLC now owns 452 shares of the company's stock worth $35,000 after acquiring an additional 338 shares during the last quarter. 72.79% of the stock is owned by institutional investors.

Piper Sandler Companies Stock Performance

Piper Sandler Companies stock opened at $75.13 on Monday. The stock has a 50-day simple moving average of $75.90 and a 200 day simple moving average of $78.51. The stock has a market capitalization of $5.31 billion, a P/E ratio of 17.41, a PEG ratio of 1.73 and a beta of 1.43. Piper Sandler Companies has a 52 week low of $68.70 and a 52 week high of $95.07.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $491.14 million for the quarter, compared to analyst estimates of $445.28 million. During the same quarter in the prior year, the company earned $2.92 earnings per share. The business's revenue for the quarter was up 24.9% compared to the same quarter last year. Research analysts forecast that Piper Sandler Companies will post 4.51 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, August 28th. Piper Sandler Companies's payout ratio is currently 18.52%.

About Piper Sandler Companies

Piper Sandler Companies NYSE: PIPR is an investment bank and institutional securities firm that provides a range of capital markets and advisory services to corporations, institutions, municipalities and high-net-worth individuals. The firm’s core activities include investment banking and M&A advisory, underwriting and distribution of equity and debt securities, public finance, and sector-focused advisory across industries such as healthcare, energy, financial services and technology.

In addition to traditional investment banking, Piper Sandler offers equity and fixed income research, institutional sales and trading, and market-making services.

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