Brokers Set Expectations for KMG Chemicals, Inc.’s FY2018 Earnings (KMG)
KMG Chemicals, Inc. (NYSE:KMG) – Research analysts at Gabelli raised their FY2018 earnings per share (EPS) estimates for KMG Chemicals in a research report issued on Wednesday. Gabelli analyst R. Morbelli now anticipates that the specialty chemicals company will earn $3.25 per share for the year, up from their prior forecast of $2.80. Gabelli also issued estimates for KMG Chemicals’ FY2019 earnings at $3.65 EPS and FY2020 earnings at $4.05 EPS.
Other research analysts have also recently issued reports about the company. KeyCorp reissued a “buy” rating and issued a $70.00 target price (up from $63.00) on shares of KMG Chemicals in a research note on Wednesday. Zacks Investment Research upgraded KMG Chemicals from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, ValuEngine lowered KMG Chemicals from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $70.00.
KMG Chemicals (NYSE:KMG) last posted its quarterly earnings results on Monday, December 11th. The specialty chemicals company reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.20. KMG Chemicals had a return on equity of 15.41% and a net margin of 6.46%. The company had revenue of $110.70 million during the quarter, compared to the consensus estimate of $106.60 million. KMG Chemicals’s revenue for the quarter was up 44.7% compared to the same quarter last year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 22nd will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.19%. The ex-dividend date is Thursday, December 21st. KMG Chemicals’s dividend payout ratio (DPR) is presently 6.28%.
In other news, major shareholder David L. Hatcher sold 3,000 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $49.15, for a total transaction of $147,450.00. Following the completion of the transaction, the insider now directly owns 1,568,097 shares in the company, valued at approximately $77,071,967.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder David L. Hatcher sold 6,000 shares of the company’s stock in a transaction on Friday, October 13th. The stock was sold at an average price of $54.77, for a total transaction of $328,620.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 216,000 shares of company stock valued at $11,664,090. Corporate insiders own 6.10% of the company’s stock.
Several large investors have recently modified their holdings of KMG. Creative Planning bought a new position in KMG Chemicals in the second quarter worth about $105,000. Legal & General Group Plc grew its holdings in shares of KMG Chemicals by 23.2% during the second quarter. Legal & General Group Plc now owns 2,198 shares of the specialty chemicals company’s stock valued at $106,000 after buying an additional 414 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of KMG Chemicals by 59.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 2,620 shares of the specialty chemicals company’s stock valued at $128,000 after buying an additional 981 shares during the last quarter. Victory Capital Management Inc. bought a new position in KMG Chemicals in the third quarter worth approximately $155,000. Finally, Hodges Capital Management Inc. bought a new position in KMG Chemicals in the third quarter worth approximately $221,000. 56.20% of the stock is owned by hedge funds and other institutional investors.
About KMG Chemicals
KMG Chemicals, Inc manufactures, formulates and globally distributes specialty chemicals. The Company operates businesses selling electronic chemicals, industrial wood treating chemicals, and industrial valve lubricants and sealants. The Company operates through two segments: Electronic chemicals and Other chemicals.
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