Spartan Motors Inc (SPAR) to Issue $0.05 Semi-Annual Dividend

Spartan Motors Inc (NASDAQ:SPAR) announced a Semi-Annual dividend on Thursday, November 1st, NASDAQ reports. Shareholders of record on Wednesday, November 14th will be paid a dividend of 0.05 per share on Friday, December 14th. The ex-dividend date of this dividend is Tuesday, November 13th.

Spartan Motors has a payout ratio of 15.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Spartan Motors to earn $0.94 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 10.6%.

NASDAQ SPAR traded down $0.33 during trading on Thursday, hitting $8.37. The stock had a trading volume of 4,513 shares, compared to its average volume of 520,504. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.74 and a quick ratio of 1.22. The company has a market cap of $295.47 million, a P/E ratio of 19.47 and a beta of 1.31. Spartan Motors has a one year low of $6.70 and a one year high of $19.45.

Spartan Motors (NASDAQ:SPAR) last announced its quarterly earnings data on Wednesday, October 31st. The company reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.08). The firm had revenue of $226.18 million during the quarter, compared to the consensus estimate of $227.27 million. Spartan Motors had a return on equity of 9.77% and a net margin of 2.04%. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.21 EPS. As a group, equities research analysts expect that Spartan Motors will post 0.43 EPS for the current year.

In related news, CEO Daryl M. Adams bought 25,000 shares of Spartan Motors stock in a transaction dated Friday, November 2nd. The shares were acquired at an average cost of $7.31 per share, with a total value of $182,750.00. Following the completion of the transaction, the chief executive officer now owns 642,536 shares in the company, valued at approximately $4,696,938.16. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Dominic A. Romeo bought 20,000 shares of Spartan Motors stock in a transaction dated Monday, November 5th. The shares were bought at an average cost of $7.31 per share, for a total transaction of $146,200.00. Following the completion of the transaction, the director now owns 24,130 shares of the company’s stock, valued at approximately $176,390.30. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 60,000 shares of company stock worth $439,200. Corporate insiders own 4.22% of the company’s stock.

Several brokerages have issued reports on SPAR. ValuEngine downgraded shares of Spartan Motors from a “sell” rating to a “strong sell” rating in a research note on Thursday, November 1st. Zacks Investment Research downgraded shares of Spartan Motors from a “hold” rating to a “sell” rating in a research note on Tuesday. Roth Capital decreased their price objective on shares of Spartan Motors from $20.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, November 1st. Craig Hallum set a $12.00 price objective on shares of Spartan Motors and gave the stock a “buy” rating in a research note on Wednesday, October 31st. Finally, BidaskClub lowered shares of Spartan Motors from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 26th. Three investment analysts have rated the stock with a sell rating and four have given a buy rating to the stock. Spartan Motors currently has an average rating of “Hold” and an average price target of $14.33.

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About Spartan Motors

Spartan Motors, Inc, through its subsidiaries, engineers, manufactures, and sells heavy-duty and purpose-built specialty vehicles in the United States, Canada, South America, and Asia. It operates through three segments: Fleet Vehicles and Services, Emergency Response Vehicles, and Specialty Chassis and Vehicles.

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Dividend History for Spartan Motors (NASDAQ:SPAR)

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