Seaport Global Securities Research Analysts Lower Earnings Estimates for Stepan Company (SCL)
Stepan Company (NYSE:SCL) – Analysts at Seaport Global Securities lowered their Q4 2017 EPS estimates for shares of Stepan in a research report issued to clients and investors on Monday. Seaport Global Securities analyst M. Harrison now forecasts that the basic materials company will post earnings of $0.77 per share for the quarter, down from their prior estimate of $0.89. Seaport Global Securities also issued estimates for Stepan’s Q4 2018 earnings at $0.88 EPS and FY2018 earnings at $4.90 EPS.
A number of other brokerages have also recently commented on SCL. Wellington Shields cut Stepan from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Zacks Investment Research raised Stepan from a “sell” rating to a “hold” rating in a research note on Saturday, September 16th. National Bank Financial raised Stepan from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $27.00 to $35.00 in a research note on Wednesday, October 11th. KeyCorp reaffirmed a “hold” rating on shares of Stepan in a research note on Friday, September 1st. Finally, BMO Capital Markets decreased their price objective on Stepan from $42.00 to $36.00 in a research note on Monday, August 14th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $36.25.
COPYRIGHT VIOLATION WARNING: This news story was originally posted by American Banking News and is the sole property of of American Banking News. If you are reading this news story on another domain, it was illegally stolen and republished in violation of U.S. & international copyright legislation. The original version of this news story can be read at https://www.americanbankingnews.com/2017/11/02/seaport-global-securities-research-analysts-lower-earnings-estimates-for-stepan-company-scl.html. Stepan (NYSE:SCL) last released its quarterly earnings results on Wednesday, October 25th. The basic materials company reported $0.92 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.09 by ($0.17). Stepan had a net margin of 4.81% and a return on equity of 13.98%. The company had revenue of $487.81 million during the quarter, compared to analyst estimates of $469.75 million. During the same quarter last year, the business earned $1.06 EPS. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year.
Several institutional investors have recently modified their holdings of the company. American Century Companies Inc. lifted its holdings in shares of Stepan by 26.3% in the third quarter. American Century Companies Inc. now owns 68,670 shares of the basic materials company’s stock valued at $5,745,000 after purchasing an additional 14,302 shares in the last quarter. Stevens Capital Management LP lifted its holdings in shares of Stepan by 19.3% in the third quarter. Stevens Capital Management LP now owns 8,313 shares of the basic materials company’s stock valued at $695,000 after purchasing an additional 1,342 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of Stepan by 26.9% in the third quarter. State Board of Administration of Florida Retirement System now owns 13,149 shares of the basic materials company’s stock valued at $1,100,000 after purchasing an additional 2,786 shares in the last quarter. Foundry Partners LLC lifted its holdings in shares of Stepan by 7.6% in the third quarter. Foundry Partners LLC now owns 107,893 shares of the basic materials company’s stock valued at $9,026,000 after purchasing an additional 7,625 shares in the last quarter. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Stepan in the third quarter valued at about $350,000. Institutional investors own 62.06% of the company’s stock.
In other Stepan news, VP Frank Pacholec sold 1,500 shares of the business’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $81.60, for a total value of $122,400.00. Following the completion of the transaction, the vice president now directly owns 48,597 shares of the company’s stock, valued at $3,965,515.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael Ross Boyce sold 872 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $77.00, for a total value of $67,144.00. Following the completion of the transaction, the director now directly owns 12,026 shares of the company’s stock, valued at $926,002. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,404 shares of company stock valued at $2,343,492. Insiders own 13.10% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.13%. This is a boost from Stepan’s previous quarterly dividend of $0.21. The ex-dividend date is Wednesday, November 29th. Stepan’s payout ratio is presently 21.24%.
Stepan Company produces specialty and intermediate chemicals, which are sold to other manufacturers and used in a range of end products. The Company operates through three segments: Surfactants, Polymers and Specialty Products. The Company’s principal markets include manufacturers of cleaning and washing compounds (including detergents, shampoos, fabric softeners, toothpastes and household cleaners), paints, cosmetics, food, beverages, nutritional supplements, agricultural products and plastics.
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