Steel Partners Holdings L.P. (SPLP) shares are trading at higher $6.75.
To add more color to this target, the company’s high over the last year is $13.40 and the low is $4.31. Over the last 52 weeks, SPLP is down -49.64% while the S&P 500 is up 0.22%. The catalyst for this interesting swing was the company’s recent earnings report.
A Notable Earnings Report
In the last quarter, SPLP reported a profit of $100.24 million. Steel Partners Holdings L.P. also saw revenues increase to $295.44 million. In addition, SPLP has free cash flow of $247.19 million as of 06-2020. The company’s EBITDA came in at $41.55 million which compares well with its peers.
SPLP booked profit margins of -4.80%, its Return on Equity (ROE) is -15.20%, and its Return on Assets is -3.10%. All told, it is clear that, SPLP needs to be on your watchlist.
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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. SPLP has a short ratio of 5.55 and outstanding shares of 25.02M.
SPLP has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 24430.0 and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -2.24. Steel Partners Holdings L.P. SPLP also noted assets of $3.95 billion at the end of the last quarter. Investors should also keep an eye on sector updates as SPLP has historically followed its peers on positive news.
All told, Steel Partners Holdings L.P. SPLP has strung together solid data and demonstrated underlying fundamentals. At its current valuation, SPLP represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.
Steel Partners Holdings L.P. SPLP is now commanding a market cap of 161.40M and a float of 18.73M. SPLP is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of SPLP stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in SPLP, either long or short, and we have not been compensated for this article.