Wall Street brokerages predict that Balchem Co. (NASDAQ:BCPC) will post $169.35 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Balchem’s earnings, with estimates ranging from $162.70 million to $176.00 million. Balchem reported sales of $163.69 million in the same quarter last year, which indicates a positive year over year growth rate of 3.5%. The firm is scheduled to announce its next quarterly earnings results on Friday, August 2nd.
On average, analysts expect that Balchem will report full-year sales of $699.00 million for the current year, with estimates ranging from $666.00 million to $732.00 million. For the next year, analysts anticipate that the firm will report sales of $827.70 million, with estimates ranging from $706.40 million to $949.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Balchem.
Balchem (NASDAQ:BCPC) last announced its earnings results on Friday, May 3rd. The basic materials company reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.04. Balchem had a return on equity of 14.11% and a net margin of 12.20%. The company had revenue of $157.00 million for the quarter, compared to analyst estimates of $165.57 million. During the same period in the prior year, the company posted $0.76 EPS. Balchem’s quarterly revenue was down 2.7% on a year-over-year basis.
A number of brokerages have issued reports on BCPC. Zacks Investment Research raised Balchem from a “sell” rating to a “hold” rating and set a $94.00 target price on the stock in a research report on Monday, February 11th. HC Wainwright reissued a “buy” rating and set a $110.00 price target on shares of Balchem in a research report on Monday, May 6th. BidaskClub raised Balchem from a “hold” rating to a “buy” rating in a research report on Friday, May 10th. Seaport Global Securities began coverage on Balchem in a research report on Thursday, February 21st. They set a “neutral” rating on the stock. Finally, Pivotal Research lowered Balchem from a “buy” rating to a “hold” rating and set a $100.00 price target on the stock. in a research report on Monday, May 6th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Balchem presently has an average rating of “Hold” and a consensus target price of $112.50.
Hedge funds have recently bought and sold shares of the stock. First Hawaiian Bank raised its position in shares of Balchem by 68.0% during the 1st quarter. First Hawaiian Bank now owns 378 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 153 shares in the last quarter. NumerixS Investment Technologies Inc acquired a new stake in Balchem in the fourth quarter worth $39,000. Pearl River Capital LLC acquired a new stake in Balchem in the fourth quarter worth $45,000. Ellis Investment Partners LLC acquired a new stake in Balchem in the first quarter worth $49,000. Finally, Private Capital Group LLC increased its position in Balchem by 116.7% in the first quarter. Private Capital Group LLC now owns 572 shares of the basic materials company’s stock worth $53,000 after buying an additional 308 shares during the period. 88.06% of the stock is currently owned by institutional investors and hedge funds.
Shares of BCPC traded down $1.62 during trading on Thursday, reaching $94.83. The company’s stock had a trading volume of 149,585 shares, compared to its average volume of 108,823. Balchem has a twelve month low of $73.16 and a twelve month high of $117.79. The firm has a market cap of $3.07 billion, a price-to-earnings ratio of 31.50 and a beta of 1.03. The company has a quick ratio of 2.43, a current ratio of 3.47 and a debt-to-equity ratio of 0.22.
Balchem Corporation develops, manufactures, and markets specialty performance ingredients and products for the food, nutritional, feed, pharmaceutical, medical sterilization, and industrial markets in the United States and internationally. The company's Human Nutrition & Health segment supplies ingredients in the food and beverage industry.
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