Sensata Technologies (NYSE:ST) Shares Gap Up After Better-Than-Expected Earnings

Sensata Technologies Holding plc (NYSE:ST)’s share price gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $35.76, but opened at $42.82. Sensata Technologies shares last traded at $39.99, with a volume of 3,391,847 shares traded.

The scientific and technical instruments company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.03. Sensata Technologies had a negative net margin of 0.10% and a positive return on equity of 17.47%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $986.51 million. During the same period in the previous year, the firm posted $0.92 earnings per share. The company’s revenue was up .9% on a year-over-year basis.

Sensata Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.20%. Sensata Technologies’s dividend payout ratio (DPR) is currently -959.81%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ST. Jefferies Financial Group started coverage on Sensata Technologies in a report on Tuesday, April 9th. They set a “hold” rating and a $40.00 price objective for the company. Evercore ISI raised their price objective on shares of Sensata Technologies from $36.00 to $44.00 and gave the company an “in-line” rating in a research note on Tuesday. The Goldman Sachs Group reissued a “neutral” rating and issued a $36.00 price target (down previously from $44.00) on shares of Sensata Technologies in a research note on Tuesday, April 9th. Oppenheimer raised Sensata Technologies from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a research note on Tuesday, January 30th. Finally, Bank of America cut shares of Sensata Technologies from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $46.00 to $38.00 in a report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $40.56.

Hedge Funds Weigh In On Sensata Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cary Street Partners Investment Advisory LLC grew its stake in shares of Sensata Technologies by 1,389.8% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 730 shares of the scientific and technical instruments company’s stock worth $28,000 after acquiring an additional 681 shares in the last quarter. Principal Securities Inc. acquired a new position in Sensata Technologies during the fourth quarter worth $29,000. Parkside Financial Bank & Trust grew its position in Sensata Technologies by 761.2% in the fourth quarter. Parkside Financial Bank & Trust now owns 887 shares of the scientific and technical instruments company’s stock valued at $33,000 after purchasing an additional 784 shares in the last quarter. Covestor Ltd increased its stake in Sensata Technologies by 71.6% in the 3rd quarter. Covestor Ltd now owns 1,249 shares of the scientific and technical instruments company’s stock valued at $47,000 after buying an additional 521 shares during the last quarter. Finally, TFO Wealth Partners LLC lifted its position in Sensata Technologies by 17,818.8% during the 4th quarter. TFO Wealth Partners LLC now owns 2,867 shares of the scientific and technical instruments company’s stock worth $108,000 after buying an additional 2,851 shares in the last quarter. 99.42% of the stock is owned by institutional investors and hedge funds.

Sensata Technologies Stock Performance

The company has a current ratio of 2.55, a quick ratio of 1.69 and a debt-to-equity ratio of 1.13. The stock’s 50 day moving average price is $35.10 and its 200 day moving average price is $34.65. The company has a market capitalization of $6.02 billion, a price-to-earnings ratio of -803.44, a P/E/G ratio of 0.85 and a beta of 1.37.

About Sensata Technologies

Sensata Technologies Holding plc develops, manufactures, and sells sensors and sensor-rich solutions, electrical protection components and systems, and other products used in mission-critical systems and applications in the United States and internationally. It operates in two segments, Performance Sensing and Sensing Solutions.