Brokerages expect that U.S. Silica Holdings Inc (NYSE:SLCA) will report $359.80 million in sales for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for U.S. Silica’s earnings, with estimates ranging from $353.30 million to $366.67 million. U.S. Silica reported sales of $182.37 million in the same quarter last year, which indicates a positive year-over-year growth rate of 97.3%. The firm is expected to report its next quarterly earnings report before the market opens on Wednesday, February 21st.
On average, analysts expect that U.S. Silica will report full-year sales of $359.80 million for the current fiscal year, with estimates ranging from $1.23 billion to $1.24 billion. For the next year, analysts anticipate that the business will post sales of $1.94 billion per share, with estimates ranging from $1.85 billion to $2.06 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow U.S. Silica.
SLCA has been the subject of several research reports. Jefferies Group set a $43.00 price objective on shares of U.S. Silica and gave the stock a “buy” rating in a report on Monday, November 13th. Piper Jaffray Companies restated a “buy” rating and issued a $40.50 price objective on shares of U.S. Silica in a report on Friday, November 10th. Citigroup upped their price objective on shares of U.S. Silica from $39.00 to $41.00 and gave the stock a “buy” rating in a report on Friday, November 10th. Zacks Investment Research upgraded shares of U.S. Silica from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a report on Tuesday, October 24th. Finally, BidaskClub upgraded shares of U.S. Silica from a “hold” rating to a “buy” rating in a report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty have given a buy rating to the stock. U.S. Silica currently has a consensus rating of “Buy” and an average target price of $48.76.
U.S. Silica announced that its Board of Directors has approved a stock buyback plan on Monday, November 6th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the mining company to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.
In related news, Director Charles W. Shaver purchased 3,300 shares of the company’s stock in a transaction dated Tuesday, December 12th. The shares were purchased at an average price of $33.99 per share, with a total value of $112,167.00. Following the acquisition, the director now directly owns 29,829 shares in the company, valued at approximately $1,013,887.71. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Bryan Adair Shinn purchased 4,000 shares of the company’s stock in a transaction dated Wednesday, December 20th. The shares were bought at an average cost of $31.30 per share, for a total transaction of $125,200.00. Following the acquisition, the chief executive officer now owns 88,807 shares in the company, valued at $2,779,659.10. The disclosure for this purchase can be found here. Insiders have purchased a total of 7,900 shares of company stock worth $256,063 over the last three months. 1.00% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Scotia Capital Inc. boosted its holdings in shares of U.S. Silica by 5.8% during the 4th quarter. Scotia Capital Inc. now owns 55,156 shares of the mining company’s stock valued at $1,796,000 after acquiring an additional 3,011 shares during the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of U.S. Silica during the 4th quarter valued at about $1,302,000. Alliancebernstein L.P. boosted its holdings in shares of U.S. Silica by 89.0% during the 4th quarter. Alliancebernstein L.P. now owns 235,306 shares of the mining company’s stock valued at $7,662,000 after acquiring an additional 110,780 shares during the last quarter. White Pine Capital LLC boosted its holdings in shares of U.S. Silica by 25.5% during the 4th quarter. White Pine Capital LLC now owns 15,000 shares of the mining company’s stock valued at $488,000 after acquiring an additional 3,050 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of U.S. Silica by 5.1% during the 4th quarter. Geode Capital Management LLC now owns 673,850 shares of the mining company’s stock valued at $21,939,000 after acquiring an additional 32,510 shares during the last quarter. 99.37% of the stock is currently owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION WARNING: “U.S. Silica Holdings Inc (SLCA) Expected to Post Quarterly Sales of $359.80 Million” was originally published by American Banking News and is the property of of American Banking News. If you are viewing this news story on another site, it was illegally stolen and republished in violation of United States & international trademark and copyright laws. The original version of this news story can be viewed at https://www.americanbankingnews.com/2018/02/14/u-s-silica-holdings-inc-slca-expected-to-post-quarterly-sales-of-359-80-million.html.
About U.S. Silica
U.S. Silica Holdings, Inc is a domestic producer of commercial silica, a specialized mineral that is an input into a range of end markets. The Company operates in two segments: Oil & Gas Proppants, and Industrial & Specialty Products. In the Oil & Gas Proppants segment, it serves the oil and gas recovery market providing fracturing sand, or frac sand, which is pumped down oil and natural gas wells to prop open rock fissures and manage the flow rate of natural gas and oil from the wells.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for U.S. Silica Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for U.S. Silica and related companies with MarketBeat.com's FREE daily email newsletter.