$279.40 Million in Sales Expected for Versum Materials Inc. (VSM) This Quarter
Equities research analysts expect Versum Materials Inc. (NYSE:VSM) to report sales of $279.40 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Versum Materials’ earnings. The lowest sales estimate is $272.60 million and the highest is $285.50 million. The company is expected to issue its next quarterly earnings report before the market opens on Thursday, November 9th.
On average, analysts expect that Versum Materials will report full-year sales of $279.40 million for the current year, with estimates ranging from $1.11 billion to $1.12 billion. For the next financial year, analysts anticipate that the firm will post sales of $1.18 billion per share, with estimates ranging from $1.16 billion to $1.21 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Versum Materials.
Versum Materials (NYSE:VSM) last issued its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.08. Versum Materials had a negative return on equity of 261.88% and a net margin of 17.91%. The company had revenue of $290.80 million during the quarter, compared to analysts’ expectations of $265.64 million. During the same quarter in the previous year, the business earned $0.45 earnings per share. The firm’s revenue for the quarter was up 19.8% on a year-over-year basis.
A number of brokerages have weighed in on VSM. ValuEngine upgraded Versum Materials from a “hold” rating to a “buy” rating in a research note on Wednesday, September 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $41.00 target price on shares of Versum Materials in a report on Tuesday, September 5th. Jefferies Group LLC reaffirmed a “hold” rating and set a $38.00 target price (up previously from $34.00) on shares of Versum Materials in a report on Wednesday, August 2nd. Stifel Nicolaus started coverage on Versum Materials in a report on Wednesday, September 20th. They set a “hold” rating and a $42.00 target price on the stock. Finally, Zacks Investment Research downgraded Versum Materials from a “buy” rating to a “hold” rating in a report on Friday, July 7th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Versum Materials has a consensus rating of “Buy” and an average price target of $38.20.
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The company also recently announced a quarterly dividend, which will be paid on Monday, November 27th. Shareholders of record on Monday, November 13th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of Infinity. The ex-dividend date is Friday, November 10th.
A number of large investors have recently added to or reduced their stakes in VSM. BlackRock Inc. lifted its holdings in shares of Versum Materials by 12.0% in the 2nd quarter. BlackRock Inc. now owns 9,045,328 shares of the basic materials company’s stock worth $293,975,000 after purchasing an additional 972,001 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Versum Materials by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 8,916,485 shares of the basic materials company’s stock worth $289,786,000 after purchasing an additional 119,507 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Versum Materials by 3.3% in the 2nd quarter. Franklin Resources Inc. now owns 4,713,791 shares of the basic materials company’s stock worth $153,198,000 after purchasing an additional 149,014 shares during the last quarter. Shapiro Capital Management LLC lifted its holdings in shares of Versum Materials by 4.7% in the 2nd quarter. Shapiro Capital Management LLC now owns 4,433,838 shares of the basic materials company’s stock worth $144,100,000 after purchasing an additional 199,500 shares during the last quarter. Finally, Iridian Asset Management LLC CT lifted its holdings in shares of Versum Materials by 38.8% in the 2nd quarter. Iridian Asset Management LLC CT now owns 4,413,786 shares of the basic materials company’s stock worth $143,448,000 after purchasing an additional 1,234,079 shares during the last quarter. 89.75% of the stock is currently owned by institutional investors.
About Versum Materials
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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