B. Riley Has Bullish Estimate for CODI FY2024 Earnings

Compass Diversified (NYSE:CODI) – Stock analysts at B. Riley boosted their FY2024 earnings estimates for Compass Diversified in a research report issued on Wednesday, December 4th. B. Riley analyst M. Howlett now forecasts that the financial services provider will post earnings of $1.96 per share for the year, up from their prior forecast of $1.89. The consensus estimate for Compass Diversified’s current full-year earnings is $1.95 per share. B. Riley also issued estimates for Compass Diversified’s Q4 2024 earnings at $0.51 EPS, Q1 2025 earnings at $0.52 EPS, Q2 2025 earnings at $0.52 EPS, Q3 2025 earnings at $0.56 EPS, Q4 2025 earnings at $0.57 EPS and FY2025 earnings at $2.15 EPS.

Compass Diversified (NYSE:CODI) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.10. The business had revenue of $582.62 million during the quarter, compared to the consensus estimate of $571.68 million. Compass Diversified had a net margin of 6.24% and a return on equity of 12.25%. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.34 EPS.

Separately, TD Cowen assumed coverage on Compass Diversified in a research report on Wednesday, November 27th. They set a “buy” rating and a $34.00 price objective for the company.

Compass Diversified Stock Performance

Shares of CODI stock opened at $23.18 on Monday. The company has a market cap of $1.75 billion, a P/E ratio of 48.29, a PEG ratio of 1.53 and a beta of 1.66. The business has a 50 day moving average of $22.15 and a two-hundred day moving average of $22.00. Compass Diversified has a 52 week low of $19.76 and a 52 week high of $25.07. The company has a quick ratio of 1.62, a current ratio of 4.22 and a debt-to-equity ratio of 1.51.

Compass Diversified Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 17th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend was Thursday, October 17th. Compass Diversified’s payout ratio is 208.33%.

Insiders Place Their Bets

In related news, major shareholder Cgi Magyar Holdings Llc sold 135,274 shares of Compass Diversified stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $23.05, for a total transaction of $3,118,065.70. Following the sale, the insider now directly owns 7,456,197 shares in the company, valued at $171,865,340.85. The trade was a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Patrick A. Maciariello bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was bought at an average price of $21.87 per share, with a total value of $109,350.00. Following the transaction, the insider now directly owns 228,518 shares in the company, valued at $4,997,688.66. This represents a 2.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.76% of the stock is owned by insiders.

Hedge Funds Weigh In On Compass Diversified

Hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp raised its holdings in shares of Compass Diversified by 14.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 240,161 shares of the financial services provider’s stock worth $5,257,000 after purchasing an additional 29,580 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Compass Diversified by 9.2% in the second quarter. Sei Investments Co. now owns 703,142 shares of the financial services provider’s stock valued at $15,392,000 after buying an additional 59,172 shares in the last quarter. Essex Financial Services Inc. lifted its position in shares of Compass Diversified by 20.2% during the 3rd quarter. Essex Financial Services Inc. now owns 1,302,174 shares of the financial services provider’s stock valued at $27,372,000 after acquiring an additional 218,394 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Compass Diversified during the 3rd quarter worth $1,058,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Compass Diversified by 3.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,257,759 shares of the financial services provider’s stock worth $94,224,000 after acquiring an additional 140,384 shares in the last quarter. 72.73% of the stock is currently owned by institutional investors and hedge funds.

Compass Diversified Company Profile

Compass Diversified is a private equity firm specializing in add on acquisitions, buyouts, industry consolidation, recapitalization, late stage and middle market investments. It seeks to invest in niche industrial or branded consumer companies, manufacturing, distribution, consumer products, business services sector, healthcare, safety & security, electronic components, food and foodservice.