SunTrust Banks Comments on A. Schulman, Inc.’s Q2 2018 Earnings (SHLM)
A. Schulman, Inc. (NASDAQ:SHLM) – Equities research analysts at SunTrust Banks boosted their Q2 2018 earnings per share estimates for shares of A. Schulman in a report released on Thursday. SunTrust Banks analyst J. Freuchtel now anticipates that the basic materials company will post earnings per share of $0.56 for the quarter, up from their prior estimate of $0.55.
A. Schulman (NASDAQ:SHLM) last released its quarterly earnings data on Wednesday, June 28th. The basic materials company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02). The company had revenue of $645.80 million for the quarter, compared to analysts’ expectations of $619.54 million. A. Schulman had a positive return on equity of 35.64% and a negative net margin of 14.86%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.79 EPS.
SHLM has been the topic of several other research reports. Zacks Investment Research cut shares of A. Schulman from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 24th. Longbow Research raised shares of A. Schulman from a “neutral” rating to a “buy” rating and set a $37.00 target price on the stock in a research note on Friday, August 25th. ValuEngine cut shares of A. Schulman from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Finally, BidaskClub cut shares of A. Schulman from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $35.33.
A number of institutional investors have recently added to or reduced their stakes in the business. Cetera Investment Advisers acquired a new position in A. Schulman during the 2nd quarter valued at about $365,000. Koch Industries Inc. bought a new position in shares of A. Schulman during the 2nd quarter valued at about $217,000. Piedmont Investment Advisors LLC bought a new position in shares of A. Schulman during the 2nd quarter valued at about $204,000. State Street Corp boosted its position in shares of A. Schulman by 3.5% during the 2nd quarter. State Street Corp now owns 703,408 shares of the basic materials company’s stock valued at $22,506,000 after purchasing an additional 23,883 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of A. Schulman by 294.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 280,629 shares of the basic materials company’s stock valued at $8,980,000 after purchasing an additional 209,446 shares in the last quarter. 84.22% of the stock is currently owned by hedge funds and other institutional investors.
About A. Schulman
A. Schulman, Inc is an international supplier of plastic formulations, resins and services, and provides solutions to its customers’ requirements through custom-formulated products. The Company’s customers span a range of markets, such as packaging, mobility, building and construction, electronics and electrical, agriculture, personal care and hygiene, custom services, and sports, home and leisure.
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