Piper Sandler Companies (NYSE:PIPR – Get Rating) – Northland Capmk dropped their FY2022 earnings per share (EPS) estimates for Piper Sandler Companies in a note issued to investors on Thursday, December 29th. Northland Capmk analyst M. Grondahl now forecasts that the company will post earnings of $10.13 per share for the year, down from their prior forecast of $10.49. The consensus estimate for Piper Sandler Companies’ current full-year earnings is $10.49 per share. Northland Capmk also issued estimates for Piper Sandler Companies’ Q1 2023 earnings at $1.81 EPS, Q3 2023 earnings at $2.90 EPS and Q4 2023 earnings at $3.34 EPS.
Piper Sandler Companies (NYSE:PIPR – Get Rating) last announced its quarterly earnings results on Friday, October 28th. The company reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.24. Piper Sandler Companies had a return on equity of 23.87% and a net margin of 11.03%. The firm had revenue of $331.75 million for the quarter, compared to analyst estimates of $321.60 million. During the same period last year, the firm posted $4.55 earnings per share. The business’s revenue for the quarter was down 25.5% on a year-over-year basis.
A number of other analysts have also commented on the company. StockNews.com initiated coverage on Piper Sandler Companies in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Northland Securities lifted their price target on Piper Sandler Companies to $135.00 in a research note on Tuesday, November 1st.
Piper Sandler Companies Stock Performance
Shares of PIPR stock opened at $133.31 on Friday. The business’s 50-day moving average price is $136.78 and its 200-day moving average price is $122.51. Piper Sandler Companies has a 12 month low of $102.60 and a 12 month high of $187.00. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 12.35 and a beta of 1.41. The company has a current ratio of 1.31, a quick ratio of 0.70 and a debt-to-equity ratio of 0.10.
Hedge Funds Weigh In On Piper Sandler Companies
Several institutional investors have recently added to or reduced their stakes in PIPR. Stephens Investment Management Group LLC lifted its stake in Piper Sandler Companies by 21.7% in the third quarter. Stephens Investment Management Group LLC now owns 380,024 shares of the company’s stock valued at $39,804,000 after buying an additional 67,686 shares during the period. Panagora Asset Management Inc. lifted its stake in Piper Sandler Companies by 158.1% in the first quarter. Panagora Asset Management Inc. now owns 71,624 shares of the company’s stock valued at $9,401,000 after buying an additional 43,877 shares during the period. Renaissance Technologies LLC lifted its stake in Piper Sandler Companies by 20.2% in the second quarter. Renaissance Technologies LLC now owns 170,495 shares of the company’s stock valued at $19,327,000 after buying an additional 28,700 shares during the period. Westwood Holdings Group Inc. lifted its stake in Piper Sandler Companies by 6.8% in the first quarter. Westwood Holdings Group Inc. now owns 401,133 shares of the company’s stock valued at $52,649,000 after buying an additional 25,651 shares during the period. Finally, Federated Hermes Inc. lifted its stake in Piper Sandler Companies by 151.9% in the second quarter. Federated Hermes Inc. now owns 34,204 shares of the company’s stock valued at $3,877,000 after buying an additional 20,625 shares during the period. 64.00% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, insider Jonathan J. Doyle sold 5,000 shares of Piper Sandler Companies stock in a transaction that occurred on Thursday, December 22nd. The stock was sold at an average price of $133.19, for a total value of $665,950.00. Following the transaction, the insider now directly owns 247,870 shares of the company’s stock, valued at $33,013,805.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.32% of the stock is owned by insiders.
Piper Sandler Companies Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 9th. Investors of record on Wednesday, November 23rd were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend was Tuesday, November 22nd. Piper Sandler Companies’s dividend payout ratio is currently 22.24%.
Piper Sandler Companies Company Profile
Piper Sandler Companies operates as an investment bank and institutional securities firm that serves corporations, private equity groups, public entities, non-profit entities, and institutional investors in the United States and internationally. The company offers investment banking and institutional sales, trading, and research services for various equity and fixed income products.
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