Hollysys Automation Technologies Ltd. (HOLI) Stock Price Down 6% After Earnings Miss
Hollysys Automation Technologies Ltd. (NASDAQ:HOLI) shares were down 6% during trading on Tuesday following a weaker than expected earnings announcement. The stock traded as low as $17.13 and last traded at $18.54, with a volume of 1,202,374 shares changing hands. The stock had previously closed at $19.73.
The company reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by $0.10. Hollysys Automation Technologies had a net margin of 21.76% and a return on equity of 18.39%. The business had revenue of $103.50 million for the quarter, compared to analysts’ expectations of $141.76 million. The company’s revenue for the quarter was down 17.3% compared to the same quarter last year.
The company also recently disclosed an annual dividend, which was paid on Friday, November 11th. Investors of record on Wednesday, October 26th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, October 24th. Hollysys Automation Technologies’s payout ratio is currently 10.20%.
Separately, Zacks Investment Research upgraded shares of Hollysys Automation Technologies from a “hold” rating to a “strong-buy” rating and set a $24.00 price objective for the company in a report on Wednesday, August 17th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. Hollysys Automation Technologies presently has a consensus rating of “Hold” and a consensus target price of $21.78.
Large investors have recently made changes to their positions in the stock. Rational Advisors LLC bought a new stake in shares of Hollysys Automation Technologies during the second quarter worth $118,000. Emerald Acquisition Ltd. bought a new stake in shares of Hollysys Automation Technologies during the third quarter worth $135,000. BNP Paribas Arbitrage SA raised its stake in shares of Hollysys Automation Technologies by 984.8% in the third quarter. BNP Paribas Arbitrage SA now owns 6,639 shares of the company’s stock worth $147,000 after buying an additional 6,027 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Hollysys Automation Technologies by 628.3% in the second quarter. JPMorgan Chase & Co. now owns 8,739 shares of the company’s stock worth $152,000 after buying an additional 7,539 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in shares of Hollysys Automation Technologies by 11.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 11,460 shares of the company’s stock worth $199,000 after buying an additional 1,175 shares in the last quarter. Institutional investors and hedge funds own 53.55% of the company’s stock.
The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 9.44 and a beta of 1.59. The firm’s 50 day moving average price is $20.94 and its 200 day moving average price is $19.54.
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.
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