GCP Applied Technologies Inc. (GCP) Announces Earnings Results
GCP Applied Technologies Inc. (NYSE:GCP) announced its quarterly earnings results on Thursday. The construction company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03, Bloomberg Earnings reports. The firm had revenue of $282.40 million for the quarter, compared to analysts’ expectations of $279.05 million. GCP Applied Technologies had a net margin of 56.84% and a negative return on equity of 36.75%. GCP Applied Technologies’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.21 earnings per share. GCP Applied Technologies updated its FY17 guidance to $0.60-0.65 EPS.
GCP Applied Technologies (NYSE GCP) traded up $0.90 on Friday, hitting $29.55. 488,511 shares of the stock were exchanged, compared to its average volume of 515,078. The stock has a market capitalization of $2,120.00 and a price-to-earnings ratio of 42.13. GCP Applied Technologies has a 12 month low of $25.25 and a 12 month high of $34.22. The company has a debt-to-equity ratio of -5.83, a current ratio of 1.39 and a quick ratio of 1.16.
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A number of research analysts have weighed in on the stock. Zacks Investment Research raised shares of GCP Applied Technologies from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research report on Wednesday, October 4th. KeyCorp reaffirmed a “buy” rating and set a $34.00 price target on shares of GCP Applied Technologies in a research report on Friday. Finally, Cowen and Company assumed coverage on shares of GCP Applied Technologies in a research report on Monday, October 30th. They set a “market perform” rating and a $31.00 price target on the stock. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $34.33.
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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