Calgon Carbon Corporation (CCC) Expected to Announce Quarterly Sales of $156.62 Million
Equities analysts forecast that Calgon Carbon Corporation (NYSE:CCC) will report sales of $156.62 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Calgon Carbon Corporation’s earnings. The lowest sales estimate is $156.00 million and the highest is $157.25 million. Calgon Carbon Corporation reported sales of $123.97 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 26.3%. The firm is expected to report its next quarterly earnings results on Thursday, November 2nd.
On average, analysts expect that Calgon Carbon Corporation will report full-year sales of $156.62 million for the current fiscal year, with estimates ranging from $607.00 million to $621.10 million. For the next financial year, analysts anticipate that the company will post sales of $639.23 million per share, with estimates ranging from $627.00 million to $650.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Calgon Carbon Corporation.
Calgon Carbon Corporation (NYSE:CCC) last issued its quarterly earnings results on Friday, August 4th. The industrial products company reported $0.14 earnings per share for the quarter, meeting the consensus estimate of $0.14. Calgon Carbon Corporation had a return on equity of 5.46% and a net margin of 1.27%. The firm had revenue of $153 million during the quarter, compared to the consensus estimate of $151.18 million. During the same period last year, the company earned $0.15 earnings per share. The company’s revenue was up 15.4% on a year-over-year basis.
Several research analysts have recently commented on the company. Sidoti reissued a “buy” rating and issued a $20.00 price target (up from $18.00) on shares of Calgon Carbon Corporation in a research report on Wednesday, July 12th. Janney Montgomery Scott lowered Calgon Carbon Corporation from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $18.00 to $16.00 in a research report on Thursday, July 13th. BidaskClub lowered Calgon Carbon Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Zacks Investment Research lowered Calgon Carbon Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Finally, ValuEngine raised Calgon Carbon Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 3rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $18.20.
Calgon Carbon Corporation (NYSE CCC) opened at 13.95 on Friday. The stock’s 50 day moving average price is $15.50 and its 200 day moving average price is $14.79. The company has a market capitalization of $708.58 million, a P/E ratio of 100.36 and a beta of 1.09. Calgon Carbon Corporation has a one year low of $13.10 and a one year high of $18.80.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, September 5th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Thursday, August 31st. Calgon Carbon Corporation’s dividend payout ratio is currently 133.33%.
In related news, Director J Rich Alexander sold 5,251 shares of the company’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $14.25, for a total transaction of $74,826.75. Following the transaction, the director now directly owns 24,183 shares of the company’s stock, valued at approximately $344,607.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.32% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in CCC. Envestnet Asset Management Inc. raised its position in shares of Calgon Carbon Corporation by 10.7% in the first quarter. Envestnet Asset Management Inc. now owns 7,703 shares of the industrial products company’s stock valued at $113,000 after buying an additional 747 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Calgon Carbon Corporation by 79.3% in the second quarter. State of Alaska Department of Revenue now owns 10,023 shares of the industrial products company’s stock valued at $151,000 after buying an additional 4,433 shares in the last quarter. BlueCrest Capital Management Ltd raised its position in shares of Calgon Carbon Corporation by 5.7% in the first quarter. BlueCrest Capital Management Ltd now owns 10,621 shares of the industrial products company’s stock valued at $155,000 after buying an additional 571 shares in the last quarter. Narwhal Capital Management acquired a new position in shares of Calgon Carbon Corporation during the first quarter valued at about $163,000. Finally, BNP Paribas Arbitrage SA raised its position in shares of Calgon Carbon Corporation by 0.4% in the first quarter. BNP Paribas Arbitrage SA now owns 11,390 shares of the industrial products company’s stock valued at $166,000 after buying an additional 51 shares in the last quarter. 81.41% of the stock is currently owned by institutional investors.
Calgon Carbon Corporation Company Profile
Calgon Carbon Corporation is a manufacturer of activated carbon, with capabilities in ultraviolet (UV) light disinfection. The Company provides purification solutions for drinking water, wastewater, pollution abatement, and a range of industrial and commercial manufacturing processes. The Company operates through four segments: Activated Carbon and Service, Equipment, Consumer and Other.
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