Q3 2017 Earnings Forecast for GCP Applied Technologies Inc. Issued By Seaport Global Securities (NYSE:GCP)
GCP Applied Technologies Inc. (NYSE:GCP) – Stock analysts at Seaport Global Securities cut their Q3 2017 earnings estimates for shares of GCP Applied Technologies in a research note issued to investors on Friday. Seaport Global Securities analyst M. Harrison now anticipates that the construction company will post earnings of $0.31 per share for the quarter, down from their previous estimate of $0.33. Seaport Global Securities also issued estimates for GCP Applied Technologies’ FY2017 earnings at $0.80 EPS, Q2 2018 earnings at $0.35 EPS, Q3 2018 earnings at $0.38 EPS, Q4 2018 earnings at $0.36 EPS and FY2018 earnings at $1.22 EPS.
GCP Applied Technologies (NYSE:GCP) last announced its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by $0.01. GCP Applied Technologies had a negative return on equity of 44.32% and a net margin of 0.26%. The firm had revenue of $287.20 million for the quarter, compared to the consensus estimate of $309.70 million. The business’s revenue was up 1.1% compared to the same quarter last year.
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Other analysts have also issued research reports about the company. Zacks Investment Research raised GCP Applied Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, May 9th. KeyCorp raised GCP Applied Technologies from a “sector weight” rating to an “overweight” rating and set a $36.00 price target on the stock in a research note on Thursday, June 22nd. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. GCP Applied Technologies currently has a consensus rating of “Buy” and an average price target of $35.50.
GCP Applied Technologies (GCP) opened at 29.95 on Monday. The company’s 50-day moving average price is $30.64 and its 200 day moving average price is $30.50. GCP Applied Technologies has a 52 week low of $25.10 and a 52 week high of $34.22. The company has a market capitalization of $2.14 billion, a PE ratio of 55.77 and a beta of 0.76.
A number of hedge funds have recently made changes to their positions in the stock. Strs Ohio raised its stake in shares of GCP Applied Technologies by 450.0% in the first quarter. Strs Ohio now owns 4,400 shares of the construction company’s stock valued at $143,000 after buying an additional 3,600 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of GCP Applied Technologies during the first quarter valued at approximately $200,000. WealthTrust Axiom LLC bought a new stake in shares of GCP Applied Technologies during the first quarter valued at approximately $210,000. Teza Capital Management LLC bought a new stake in shares of GCP Applied Technologies during the first quarter valued at approximately $212,000. Finally, Paloma Partners Management Co bought a new stake in shares of GCP Applied Technologies during the first quarter valued at approximately $213,000. 81.64% of the stock is currently owned by institutional investors and hedge funds.
About GCP Applied Technologies
GCP Applied Technologies Inc produces and sells specialty construction chemicals, specialty building materials, and packaging sealants and coatings. The Company operates through two segments: Specialty Construction Chemicals and Specialty Building Materials. The Specialty Construction Chemicals segment manufactures and markets products to manage performance of Portland cement, and materials based on Portland cement, such as concrete admixtures and cement additives, as well as concrete production management systems.
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