Sun Communities Stock hits New High, but Projected Higher

Sun_Communities company credit postedDailyBusinessNewsMHProNewsAs the stock of Sun Communities, Inc. (NYSE:SUI) reached a new 52-week high on Wed., July 28 of $77.90, it has a forecasted target of $130.09, a 67 percent increase over today’s closing, a value that would increase the worth by $3.56 billion, giving it a total value of $8.88 billion, according to consumereagle. The stock has risen 13.79 percent since Dec. 21, 2015, and outperformed the S&P 500 by 6.56 percent.

Analysts, awaiting Sun’s release of financials on Aug. 4, 2016, expect $0.80 earnings per share, down -0.07 per share from last year’s $0.87 per share. Sun’s profit will be $54.63 million for 24.34 P/E if the $0.80 EPS becomes a reality. In the previous quarter Sun posted $0.90 EPS, leading Wall Street to forecast negative EPS growth of -11.11 percent.

MHProNews knows Sun owns and operates a mix of 337 manufactured home and recreational vehicle communities in 12 Midwestern and Southeastern states comprised of 117,000 developed sites. ##

(Logo credit: Sun Communities, Inc.)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J Silver to Daily Business News-MHProNews.

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