Analysts Issue Forecasts for Versum Materials Inc.’s FY2017 Earnings (VSM)
Versum Materials Inc. (NYSE:VSM) – Seaport Global Securities boosted their FY2017 EPS estimates for shares of Versum Materials in a research report issued on Wednesday. Seaport Global Securities analyst M. Harrison now forecasts that the basic materials company will post earnings per share of $1.94 for the year, up from their previous estimate of $1.79. Seaport Global Securities also issued estimates for Versum Materials’ Q4 2017 earnings at $0.50 EPS, Q1 2018 earnings at $0.57 EPS, Q2 2018 earnings at $0.54 EPS, Q3 2018 earnings at $0.56 EPS, Q4 2018 earnings at $0.56 EPS and FY2018 earnings at $2.23 EPS.
A number of other equities research analysts have also recently weighed in on VSM. Credit Suisse Group set a $33.00 price target on Versum Materials and gave the company a “buy” rating in a report on Tuesday, May 2nd. Zacks Investment Research cut Versum Materials from a “buy” rating to a “hold” rating in a report on Saturday, May 6th. Aegis raised Versum Materials from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a report on Friday, June 23rd. Needham & Company LLC initiated coverage on Versum Materials in a report on Monday, July 10th. They set a “buy” rating and a $38.00 price target for the company. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $38.00 price target (up from $34.00) on shares of Versum Materials in a report on Wednesday, August 2nd. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Versum Materials currently has a consensus rating of “Buy” and a consensus target price of $34.30.
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Shares of Versum Materials (NYSE:VSM) traded up 0.54% on Friday, reaching $35.11. The company had a trading volume of 58,087 shares. Versum Materials has a 12 month low of $21.86 and a 12 month high of $37.40. The company’s 50-day moving average is $34.16 and its 200 day moving average is $31.30. The firm has a market capitalization of $3.82 billion and a PE ratio of 19.84.
Versum Materials (NYSE:VSM) last issued its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.08. The firm had revenue of $290.80 million during the quarter, compared to the consensus estimate of $265.64 million. Versum Materials had a negative return on equity of 261.88% and a net margin of 17.91%. The firm’s revenue was up 19.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.45 EPS.
Several large investors have recently added to or reduced their stakes in VSM. Pinnacle Financial Partners Inc. purchased a new stake in Versum Materials during the second quarter valued at approximately $111,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Versum Materials by 12.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,983 shares of the basic materials company’s stock valued at $129,000 after buying an additional 428 shares during the period. Glen Harbor Capital Management LLC boosted its stake in Versum Materials by 18.9% in the first quarter. Glen Harbor Capital Management LLC now owns 4,290 shares of the basic materials company’s stock valued at $131,000 after buying an additional 682 shares during the period. MV Capital Management Inc. boosted its stake in Versum Materials by 20.5% in the second quarter. MV Capital Management Inc. now owns 4,379 shares of the basic materials company’s stock valued at $142,000 after buying an additional 746 shares during the period. Finally, Creative Planning boosted its stake in Versum Materials by 17.0% in the second quarter. Creative Planning now owns 4,587 shares of the basic materials company’s stock valued at $149,000 after buying an additional 666 shares during the period. 88.60% of the stock is owned by institutional investors.
In other news, Director Jacques M. Croisetiere bought 2,750 shares of the stock in a transaction dated Thursday, August 3rd. The stock was bought at an average cost of $36.00 per share, with a total value of $99,000.00. Following the purchase, the director now owns 8,376 shares of the company’s stock, valued at $301,536. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 0.49% of the stock is currently owned by company insiders.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 21st. Stockholders of record on Monday, August 7th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $0.20 annualized dividend and a dividend yield of 0.57%.
Versum Materials Company Profile
Versum Materials, Inc is a provider of solutions to the semiconductor and display industries. The Company is engaged in the development, manufacturing, transportation and handling of specialty materials. Its segments include Materials; Delivery Systems and Services (DS&S), and Corporate. The Materials segment is an integrated provider of specialty materials for the electronics industry, focusing on the integrated circuit and flat-panel display markets.
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