Sanmina (SANM) Issues Q2 Earnings Guidance

Sanmina (NASDAQ:SANM) updated its second quarter earnings guidance on Friday. The company provided EPS guidance of $0.40-0.50 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.70. The company issued revenue guidance of $1.60-1.70 billion, compared to the consensus revenue estimate of $1.73 billion.Sanmina also updated its Q1 guidance to $0.48 EPS.

A number of brokerages have recently issued reports on SANM. Bank of America cut Sanmina from a buy rating to a neutral rating in a research note on Tuesday, October 31st. Needham & Company LLC reaffirmed a buy rating and set a $45.00 price objective on shares of Sanmina in a research note on Wednesday, October 4th. ValuEngine cut Sanmina from a strong-buy rating to a buy rating in a research note on Monday, October 2nd. Zacks Investment Research raised Sanmina from a sell rating to a hold rating in a research note on Tuesday, September 26th. Finally, BidaskClub cut Sanmina from a strong-buy rating to a buy rating in a research note on Saturday, December 2nd. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $44.33.

Sanmina (NASDAQ:SANM) opened at $35.45 on Friday. Sanmina has a 12 month low of $29.95 and a 12 month high of $42.95. The stock has a market capitalization of $2,553.14, a PE ratio of 13.28, a PEG ratio of 0.99 and a beta of 0.79. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.97 and a current ratio of 1.62.

Sanmina (NASDAQ:SANM) last posted its earnings results on Monday, October 30th. The electronics maker reported $0.64 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.12). The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. Sanmina had a return on equity of 12.27% and a net margin of 2.02%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.72 earnings per share. sell-side analysts anticipate that Sanmina will post 3 EPS for the current fiscal year.

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About Sanmina

Sanmina Corporation is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services. The Company provides its offerings primarily to original equipment manufacturers (OEMs) in various industries, including communications networks, storage, industrial, defense and aerospace, medical and energy.

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