Calgon Carbon Corp. (NYSE:CCC) Given Consensus Rating of “Hold” by Analysts
Calgon Carbon Corp. (NYSE:CCC) has been assigned a consensus recommendation of “Hold” from the nine brokerages that are covering the stock. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $14.75.
A number of brokerages have weighed in on CCC. Zacks Investment Research upgraded Calgon Carbon Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, August 31st. Avondale Partners upgraded 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. Finally, Oppenheimer Holdings Inc. assumed coverage on Calgon Carbon Corp. in a research note on Wednesday, June 1st. They issued an “outperform” rating for the company.
Institutional investors have recently made changes to their positions in the stock. Mason Street Advisors LLC acquired a new position in shares of Calgon Carbon Corp. during the second quarter valued at $130,000. Schwab Charles Investment Management Inc. boosted its position in shares of Calgon Carbon Corp. by 8.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 258,041 shares of the company’s stock valued at $3,394,000 after buying an additional 19,605 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Calgon Carbon Corp. by 1.2% in the second quarter. Arizona State Retirement System now owns 26,239 shares of the company’s stock valued at $345,000 after buying an additional 300 shares during the last quarter. Highbridge Capital Management LLC acquired a new position in shares of Calgon Carbon Corp. during the second quarter valued at $268,000. Finally, Cubist Systematic Strategies LLC boosted its position in shares of Calgon Carbon Corp. by 160.7% in the second quarter. Cubist Systematic Strategies LLC now owns 27,262 shares of the company’s stock valued at $358,000 after buying an additional 16,805 shares during the last quarter. 83.44% of the stock is currently owned by institutional investors and hedge funds.
Shares of Calgon Carbon Corp. (NYSE:CCC) opened at 14.73 on Thursday. The company has a market cap of $745.69 million, a price-to-earnings ratio of 22.98 and a beta of 1.10. Calgon Carbon Corp. has a 12-month low of $12.70 and a 12-month high of $18.22. The company’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 posted its quarterly earnings data on Friday, August 5th. The company reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.17 by $0.02. The company earned $132.60 million during the quarter, compared to analyst estimates of $130.07 million. Calgon Carbon Corp. had a net margin of 6.42% and a return on equity of 8.36%. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.24 earnings per share. Equities analysts predict that Calgon Carbon Corp. will post $0.62 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Friday, September 2nd were given a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.20 annualized dividend and a yield of 1.36%. Calgon Carbon Corp.’s payout ratio is 31.25%.
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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