Aceto Corporation (ACET) Issues FY18 Earnings Guidance
Aceto Corporation (NASDAQ:ACET) updated its FY18 earnings guidance on Thursday. The company provided EPS guidance of $1.05-1.15 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.28. The company issued revenue guidance of $734.07-765.98 million (+15-20%), compared to the consensus revenue estimate of $778.29 million.
Several brokerages have recently weighed in on ACET. Zacks Investment Research raised Aceto Corporation from a strong sell rating to a hold rating in a report on Monday. ValuEngine raised Aceto Corporation from a hold rating to a buy rating in a report on Wednesday, September 13th. Canaccord Genuity began coverage on Aceto Corporation in a report on Monday, July 31st. They set a buy rating and a $19.00 price objective on the stock. Finally, BidaskClub lowered Aceto Corporation from a buy rating to a hold rating in a report on Wednesday, July 12th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Aceto Corporation currently has an average rating of Hold and a consensus price target of $18.00.
Aceto Corporation (NASDAQ:ACET) last announced its earnings results on Thursday, November 2nd. The company reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.01. The company had revenue of $185.26 million for the quarter, compared to analyst estimates of $190.58 million. Aceto Corporation had a return on equity of 10.21% and a net margin of 1.78%. The firm’s quarterly revenue was up 44.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.28 earnings per share.
In related news, insider Salvatore J. Sr Guccione, Sr. sold 9,850 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $10.47, for a total transaction of $103,129.50. Following the sale, the insider now owns 241,262 shares of the company’s stock, valued at $2,526,013.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Albert L. Eilender sold 9,530 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $10.47, for a total value of $99,779.10. Following the sale, the chairman now directly owns 307,028 shares in the company, valued at approximately $3,214,583.16. The disclosure for this sale can be found here. Insiders have sold 26,283 shares of company stock worth $275,189 in the last three months. 4.10% of the stock is currently owned by company insiders.
Aceto Corporation Company Profile
Aceto Corporation (Aceto) is engaged in the marketing, sales and distribution of finished dosage form generic pharmaceuticals, nutraceutical products, pharmaceutical active ingredients and intermediates, specialty performance chemicals inclusive of agricultural intermediates and agricultural protection products.
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