Calgon Carbon Corp. (CCC) Lifted to “Hold” at Zacks Investment Research
According to Zacks, “Estimates for Calgon Carbon have been stable lately. The company continues to diversify and grow though its product offerings and increased penetration into new markets. It is also working on lowering costs to boost margins. However, Calgon Carbon continues to be affected by a still weak global economy. It continues to witness sluggishness in industrial market applications. It is seeing weak demand for activated carbon in specific markets. Calgon Carbon is also exposed to weakness in its equipment business and currency headwinds.”
Several other analysts have also recently weighed in on CCC. Avondale Partners raised Calgon Carbon Corp. from a market perform rating to an outperform rating and set a $16.00 price target for the company in a report on Monday, August 8th. Oppenheimer Holdings Inc. began coverage on Calgon Carbon Corp. in a report on Wednesday, June 1st. They set an outperform rating for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Calgon Carbon Corp. currently has a consensus rating of Hold and a consensus price target of $16.00.
Shares of Calgon Carbon Corp. (NYSE:CCC) opened at 14.73 on Thursday. Calgon Carbon Corp. has a one year low of $12.70 and a one year high of $18.22. The company has a market cap of $745.69 million, a PE ratio of 22.98 and a beta of 1.10. The stock’s 50 day moving average price is $14.31 and its 200 day moving average price is $14.45.
Calgon Carbon Corp. (NYSE:CCC) last issued its earnings results on Friday, August 5th. The company reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by $0.02. Calgon Carbon Corp. had a return on equity of 8.36% and a net margin of 6.42%. The business had revenue of $132.60 million for the quarter, compared to the consensus estimate of $130.07 million. During the same quarter in the prior year, the firm posted $0.24 earnings per share. The business’s revenue was down 2.1% compared to the same quarter last year. Equities analysts predict that Calgon Carbon Corp. will post $0.62 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Friday, September 2nd were issued a $0.05 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $0.20 annualized dividend and a yield of 1.36%. Calgon Carbon Corp.’s dividend payout ratio is presently 31.25%.
Institutional investors have recently made changes to their positions in the stock. Riverhead Capital Management LLC boosted its position in shares of Calgon Carbon Corp. by 53.7% in the second quarter. Riverhead Capital Management LLC now owns 11,616 shares of the company’s stock valued at $119,000 after buying an additional 4,056 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in Calgon Carbon Corp. during the second quarter worth approximately $126,000. Mason Street Advisors LLC acquired a new position in Calgon Carbon Corp. during the second quarter worth approximately $130,000. Paloma Partners Management Co acquired a new position in Calgon Carbon Corp. during the second quarter worth approximately $136,000. Finally, Squarepoint Ops LLC acquired a new position in Calgon Carbon Corp. during the first quarter worth approximately $150,000. 83.44% of the stock is owned by hedge funds and other institutional investors.
Calgon Carbon Corp. Company Profile
Calgon Carbon Corporation is engaged in the manufacture, supply, reactivation and application of activated carbons and the manufacture of ballast water treatment, ultraviolet light disinfection and ion-exchange (IX) technologies. The Company’s technologies are used for the treatment of drinking water, wastewater, ballast water, air emissions, and various industrial and commercial manufacturing processes.
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