RPM International Inc. Forecasted to Earn Q2 2018 Earnings of $0.60 Per Share (RPM)
RPM International Inc. (NYSE:RPM) – Research analysts at Seaport Global Securities dropped their Q2 2018 EPS estimates for shares of RPM International in a research report issued on Monday. Seaport Global Securities analyst M. Harrison now expects that the specialty chemicals company will post earnings per share of $0.60 for the quarter, down from their prior forecast of $0.64. Seaport Global Securities also issued estimates for RPM International’s FY2018 earnings at $2.87 EPS, Q1 2019 earnings at $0.95 EPS, Q2 2019 earnings at $0.71 EPS and FY2019 earnings at $3.24 EPS.
RPM International (NYSE:RPM) last issued its quarterly earnings data on Wednesday, October 4th. The specialty chemicals company reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.02. RPM International had a return on equity of 24.73% and a net margin of 3.67%. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the business earned $0.83 EPS. The firm’s revenue was up 7.5% compared to the same quarter last year.
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Several other research firms have also issued reports on RPM. TheStreet lowered RPM International from a “b” rating to a “c+” rating in a report on Wednesday, October 4th. BidaskClub lowered RPM International from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Zacks Investment Research upgraded RPM International from a “sell” rating to a “hold” rating in a report on Saturday, July 29th. Bank of America Corporation dropped their target price on RPM International from $58.00 to $56.00 and set a “neutral” rating on the stock in a report on Tuesday, July 25th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $49.00 target price on shares of RPM International in a report on Tuesday, June 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. RPM International has an average rating of “Hold” and a consensus target price of $57.00.
Shares of RPM International (NYSE RPM) traded down 0.10% on Wednesday, hitting $51.43. The company had a trading volume of 153,505 shares. The firm has a 50 day moving average of $50.24 and a 200-day moving average of $52.41. RPM International has a 12-month low of $46.25 and a 12-month high of $56.48. The firm has a market capitalization of $6.87 billion, a P/E ratio of 37.00 and a beta of 1.55.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in RPM. Lord Abbett & CO. LLC raised its stake in RPM International by 9.5% in the second quarter. Lord Abbett & CO. LLC now owns 1,007,328 shares of the specialty chemicals company’s stock valued at $54,950,000 after buying an additional 87,679 shares during the period. Advisory Services Network LLC raised its stake in RPM International by 2.7% in the second quarter. Advisory Services Network LLC now owns 2,174 shares of the specialty chemicals company’s stock valued at $119,000 after buying an additional 57 shares during the period. Albion Financial Group UT raised its stake in RPM International by 1.1% in the second quarter. Albion Financial Group UT now owns 8,583 shares of the specialty chemicals company’s stock valued at $468,000 after buying an additional 95 shares during the period. Nomura Holdings Inc. bought a new stake in RPM International in the second quarter valued at approximately $602,000. Finally, State Street Corp raised its stake in RPM International by 0.4% in the second quarter. State Street Corp now owns 6,557,057 shares of the specialty chemicals company’s stock valued at $357,688,000 after buying an additional 23,088 shares during the period. Institutional investors and hedge funds own 73.49% of the company’s stock.
In related news, SVP Edward W. Moore sold 10,568 shares of the company’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $52.04, for a total transaction of $549,958.72. Following the sale, the senior vice president now owns 92,549 shares in the company, valued at $4,816,249.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.10% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Monday, October 16th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.49%. The ex-dividend date is Friday, October 13th. This is a positive change from RPM International’s previous quarterly dividend of $0.30. RPM International’s dividend payout ratio is presently 88.89%.
RPM International Company Profile
RPM International Inc, through its subsidiaries, manufactures, markets and sells various specialty chemical product lines, including specialty paints, protective coatings, roofing systems, sealants and adhesives, focusing on the maintenance of industrial, specialty and consumer markets. The Company operates through three segments: the industrial reportable segment (industrial segment), the specialty reportable segment (specialty segment) and the consumer reportable segment (consumer segment).
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