GCP Applied Technologies Inc. (GCP) Expected to Post Q3 2017 Earnings of $0.18 Per Share
GCP Applied Technologies Inc. (NYSE:GCP) – Analysts at KeyCorp lowered their Q3 2017 earnings estimates for GCP Applied Technologies in a research note issued on Sunday. KeyCorp analyst M. Sison now forecasts that the construction company will post earnings of $0.18 per share for the quarter, down from their previous forecast of $0.27. KeyCorp has a “Overweight” rating and a $36.00 price objective on the stock. KeyCorp also issued estimates for GCP Applied Technologies’ FY2017 earnings at $0.60 EPS and FY2018 earnings at $0.95 EPS.
Separately, Zacks Investment Research upgraded shares of GCP Applied Technologies from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research report on Wednesday, October 4th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $35.40.
Shares of GCP Applied Technologies (NYSE GCP) opened at 29.20 on Tuesday. GCP Applied Technologies has a 12-month low of $25.10 and a 12-month high of $34.22. The stock’s 50 day moving average is $30.93 and its 200 day moving average is $30.93. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 663.64 and a beta of 0.97.
GCP Applied Technologies (NYSE:GCP) last posted its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.01). The firm had revenue of $287.20 million for the quarter, compared to analyst estimates of $309.70 million. GCP Applied Technologies had a negative return on equity of 44.32% and a net margin of 0.26%. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year.
A number of hedge funds have recently added to or reduced their stakes in the stock. Amalgamated Bank increased its position in GCP Applied Technologies by 3.4% during the 2nd quarter. Amalgamated Bank now owns 9,027 shares of the construction company’s stock worth $275,000 after purchasing an additional 301 shares in the last quarter. Legal & General Group Plc increased its position in GCP Applied Technologies by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 25,493 shares of the construction company’s stock worth $776,000 after purchasing an additional 309 shares in the last quarter. Suntrust Banks Inc. increased its position in GCP Applied Technologies by 0.3% during the 2nd quarter. Suntrust Banks Inc. now owns 160,086 shares of the construction company’s stock worth $4,882,000 after purchasing an additional 441 shares in the last quarter. KBC Group NV increased its position in GCP Applied Technologies by 4.0% during the 1st quarter. KBC Group NV now owns 12,064 shares of the construction company’s stock worth $394,000 after purchasing an additional 464 shares in the last quarter. Finally, Symphony Asset Management LLC increased its position in GCP Applied Technologies by 4.1% during the 2nd quarter. Symphony Asset Management LLC now owns 17,770 shares of the construction company’s stock worth $542,000 after purchasing an additional 698 shares in the last quarter. Institutional investors and hedge funds own 82.21% of the company’s stock.
GCP Applied Technologies Company Profile
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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