GCP Applied Technologies Inc. (GCP) Forecasted to Post Q3 2017 Earnings of $0.27 Per Share
GCP Applied Technologies Inc. (NYSE:GCP) – Analysts at KeyCorp decreased their Q3 2017 earnings per share (EPS) estimates for shares of GCP Applied Technologies in a research report issued on Thursday. KeyCorp analyst M. Sison now forecasts that the construction company will post earnings of $0.27 per share for the quarter, down from their previous estimate of $0.30. KeyCorp has a “Overweight” rating and a $36.00 price objective on the stock. KeyCorp also issued estimates for GCP Applied Technologies’ FY2017 earnings at $0.75 EPS and FY2018 earnings at $1.05 EPS.
Separately, Zacks Investment Research upgraded GCP Applied Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, May 9th. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. GCP Applied Technologies currently has an average rating of “Buy” and an average price target of $35.50.
Shares of GCP Applied Technologies (NYSE:GCP) opened at 30.60 on Monday. GCP Applied Technologies has a 52 week low of $25.10 and a 52 week high of $34.22. The company’s 50-day moving average price is $30.69 and its 200 day moving average price is $30.51. The company has a market cap of $2.19 billion, a P/E ratio of 56.98 and a beta of 0.76.
GCP Applied Technologies (NYSE:GCP) last issued its earnings results on Thursday, August 3rd. The construction company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by $0.01. The business had revenue of $287.20 million for the quarter, compared to the consensus estimate of $309.70 million. GCP Applied Technologies had a net margin of 0.26% and a negative return on equity of 44.54%. GCP Applied Technologies’s revenue was up 1.1% on a year-over-year basis.
A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of GCP Applied Technologies by 4.9% in the first quarter. Vanguard Group Inc. now owns 5,859,400 shares of the construction company’s stock worth $191,310,000 after buying an additional 273,798 shares in the last quarter. BlackRock Inc. increased its position in shares of GCP Applied Technologies by 53,633.5% in the first quarter. BlackRock Inc. now owns 4,539,941 shares of the construction company’s stock worth $148,228,000 after buying an additional 4,531,492 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of GCP Applied Technologies by 25.4% in the first quarter. JPMorgan Chase & Co. now owns 2,748,310 shares of the construction company’s stock worth $89,732,000 after buying an additional 557,518 shares in the last quarter. MARSHALL WACE ASIA Ltd acquired a new position in shares of GCP Applied Technologies during the first quarter worth about $54,104,000. Finally, Teachers Advisors LLC increased its position in shares of GCP Applied Technologies by 27.0% in the first quarter. Teachers Advisors LLC now owns 1,507,275 shares of the construction company’s stock worth $49,213,000 after buying an additional 320,687 shares in the last quarter. Institutional investors own 81.34% of the company’s stock.
About GCP Applied Technologies
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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