Hollysys Automation Technologies, Ltd. (HOLI) Hits New 52-Week High on Earnings Beat

Hollysys Automation Technologies, Ltd. (NASDAQ:HOLI) shares hit a new 52-week high on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $26.87 and last traded at $23.47, with a volume of 451800 shares. The stock had previously closed at $23.26.

The industrial products company reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.04. The firm had revenue of $115.50 million during the quarter. Hollysys Automation Technologies had a return on equity of 9.87% and a net margin of 15.96%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 earnings per share.

The company also recently declared an annual dividend, which was paid on Monday, November 6th. Shareholders of record on Monday, October 16th were given a dividend of $0.12 per share. This represents a yield of 0.56%. The ex-dividend date of this dividend was Friday, October 13th. Hollysys Automation Technologies’s dividend payout ratio (DPR) is presently 10.62%.

A number of equities research analysts have issued reports on the company. Instinet reaffirmed a “reduce” rating and issued a $12.31 target price on shares of Hollysys Automation Technologies in a research report on Tuesday, August 15th. BidaskClub raised Hollysys Automation Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. J P Morgan Chase & Co raised Hollysys Automation Technologies from a “neutral” rating to an “overweight” rating and set a $22.60 target price for the company in a research report on Tuesday, August 15th. TheStreet raised Hollysys Automation Technologies from a “c+” rating to a “b” rating in a research report on Thursday, August 10th. Finally, Zacks Investment Research downgraded Hollysys Automation Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, August 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $19.65.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Malaga Cove Capital LLC raised its position in shares of Hollysys Automation Technologies by 1.6% during the 2nd quarter. Malaga Cove Capital LLC now owns 62,898 shares of the industrial products company’s stock worth $1,025,000 after purchasing an additional 979 shares during the period. Parametric Portfolio Associates LLC raised its position in shares of Hollysys Automation Technologies by 4.2% during the 1st quarter. Parametric Portfolio Associates LLC now owns 34,169 shares of the industrial products company’s stock worth $578,000 after purchasing an additional 1,362 shares during the period. Ameriprise Financial Inc. raised its position in shares of Hollysys Automation Technologies by 5.0% during the 1st quarter. Ameriprise Financial Inc. now owns 35,029 shares of the industrial products company’s stock worth $593,000 after purchasing an additional 1,657 shares during the period. Legal & General Group Plc raised its position in shares of Hollysys Automation Technologies by 67.4% during the 3rd quarter. Legal & General Group Plc now owns 7,346 shares of the industrial products company’s stock worth $159,000 after purchasing an additional 2,957 shares during the period. Finally, Dupont Capital Management Corp raised its position in shares of Hollysys Automation Technologies by 15.6% during the 2nd quarter. Dupont Capital Management Corp now owns 22,006 shares of the industrial products company’s stock worth $366,000 after purchasing an additional 2,972 shares during the period. Hedge funds and other institutional investors own 67.74% of the company’s stock.

The firm has a market capitalization of $1,420.00, a price-to-earnings ratio of 20.58 and a beta of 1.54. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.86 and a quick ratio of 2.71.

COPYRIGHT VIOLATION NOTICE: “Hollysys Automation Technologies, Ltd. (HOLI) Hits New 52-Week High on Earnings Beat” was first reported by Transcript Daily and is owned by of Transcript Daily. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of United States & international trademark and copyright legislation. The correct version of this piece of content can be read at https://transcriptdaily.com/2017/11/14/hollysys-automation-technologies-ltd-holi-hits-new-52-week-high-on-earnings-beat.html.

About Hollysys Automation Technologies

Hollysys Automation Technologies Ltd. is a provider of automation and control technologies, and products. The Company’s segments include Industrial Automation (IA), Rail Transportation (rail), Mechanical and Electrical (M&E), and Miscellaneous. Its technologies are applied through its industrial automation solution suite, including the Distributed Control Systems, Programmable Logic Controller, Real-time Management Information System, HolliAS Asset Management System, Operator Training System, Batch Application Package, Advanced Process Control Package (HolliAS APC Suite), Safety Instrumentation System (SIS), railway signaling system of Train Control Center, Automatic Train Protection, Subway Supervisory and Control platform, nuclear power non-safety automation and control system HolliAs-NMS DCS and other products.

Receive News & Ratings for Hollysys Automation Technologies Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hollysys Automation Technologies Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply