Seaport Global Securities Research Analysts Lift Earnings Estimates for GCP Applied Technologies Inc (GCP)
GCP Applied Technologies Inc (NYSE:GCP) – Seaport Global Securities upped their FY2018 earnings estimates for shares of GCP Applied Technologies in a research report issued to clients and investors on Wednesday, November 14th. Seaport Global Securities analyst M. Harrison now expects that the construction company will earn $0.94 per share for the year, up from their prior forecast of $0.90. Seaport Global Securities has a “Neutral” rating on the stock. Seaport Global Securities also issued estimates for GCP Applied Technologies’ Q4 2018 earnings at $0.32 EPS and FY2020 earnings at $1.34 EPS.
GCP has been the subject of a number of other research reports. Zacks Investment Research downgraded GCP Applied Technologies from a “hold” rating to a “sell” rating in a research note on Friday, August 10th. Monness Crespi & Hardt downgraded GCP Applied Technologies from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research note on Wednesday, August 8th. Finally, KeyCorp dropped their price target on GCP Applied Technologies from $35.00 to $30.00 and set an “overweight” rating for the company in a research note on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. GCP Applied Technologies currently has an average rating of “Hold” and an average target price of $32.75.
GCP Applied Technologies (NYSE:GCP) last posted its quarterly earnings results on Tuesday, November 6th. The construction company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.02. The business had revenue of $296.30 million during the quarter, compared to the consensus estimate of $299.50 million. GCP Applied Technologies had a positive return on equity of 12.89% and a negative net margin of 8.19%. GCP Applied Technologies’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.22 earnings per share.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its stake in GCP Applied Technologies by 5.6% during the second quarter. BlackRock Inc. now owns 5,028,459 shares of the construction company’s stock worth $145,574,000 after acquiring an additional 266,360 shares in the last quarter. JPMorgan Chase & Co. raised its stake in GCP Applied Technologies by 7.6% during the third quarter. JPMorgan Chase & Co. now owns 3,432,610 shares of the construction company’s stock worth $91,137,000 after acquiring an additional 243,560 shares in the last quarter. Gamco Investors INC. ET AL raised its stake in GCP Applied Technologies by 60.1% during the third quarter. Gamco Investors INC. ET AL now owns 3,263,167 shares of the construction company’s stock worth $86,637,000 after acquiring an additional 1,225,410 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in GCP Applied Technologies by 6.7% during the third quarter. Dimensional Fund Advisors LP now owns 1,484,380 shares of the construction company’s stock worth $39,410,000 after acquiring an additional 92,735 shares in the last quarter. Finally, Northern Trust Corp raised its stake in GCP Applied Technologies by 7.2% during the second quarter. Northern Trust Corp now owns 953,304 shares of the construction company’s stock worth $27,598,000 after acquiring an additional 64,179 shares in the last quarter. 83.61% of the stock is owned by hedge funds and other institutional investors.
In related news, major shareholder Dalbergia Investments Llc purchased 28,400 shares of the company’s stock in a transaction that occurred on Monday, October 15th. The stock was acquired at an average price of $25.38 per share, with a total value of $720,792.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders purchased 1,908,163 shares of company stock valued at $48,424,248. 0.65% of the stock is owned by insiders.
GCP Applied Technologies Company Profile
GCP Applied Technologies Inc produces and sells specialty construction chemicals and specialty building materials worldwide. Its Specialty Construction Chemicals segment offers concrete admixtures under the CONCERA, CLARENA, ADVA, STRUX, MIRA, TYTRO, POLARSET, ECLIPSE, DARACEM, DARASET, DCI, RECOVER, WRDA, and ZYLA brands; admixtures for decorative concrete under the PIERI brand; concrete production management system under the VERIFI and DUCTILCRETE brands; and cement additives under the OPTEVA HE, TAVERO VM, CBA, SYNCHRO, HEA2, TDA, and ESE brands.
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