Standex International's Consensus-Topping Fiscal Q3 Prompts Barrington to Raise Fiscal 21-22 Estimates
04:12 PM EDT, 05/07/2021 (MT Newswires) -- Standex International's (SXI) consensus-beating fiscal Q3 earnings, fiscal Q4 outlook as well as reflective portfolio set a path for the company to achieve pre-COVID-19 share price accretion levels, Barrington Research said in a research note on Friday.
Standex reported fiscal Q3 adjusted EPS of $1.19, compared with $0.96 a year ago. Analysts polled by Capital IQ had expected $1.06. Net sales of $172.2 million were up year over year from $155.5 million. Analysts had projected $162.7 million.
For fiscal Q4, the company expects a sequential increase in revenue.
Barrington said it raised its price target on the company to $113 from $110 and also raised its estimate on the company for fiscal 2021 to $655.9 million in revenue from $637 million and adjusted EPS to $4.57 from $4.26. For fiscal 2022, the firm expects Standex to post an adjusted EPS of $4.97, up from its previous forecast of $4.88, and revenue of $673.9 million, versus its earlier expectation of $665.2 million.
Price: 101.09, Change: -0.19, Percent Change: -0.18