CMC Materials, Inc. (NASDAQ:CCMP) Expected to Post Quarterly Sales of $302.35 Million


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Analysts forecast that CMC Materials, Inc. (NASDAQ:CCMP) will announce sales of $302.35 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for CMC Materials’ earnings, with the lowest sales estimate coming in at $300.70 million and the highest estimate coming in at $304.00 million. CMC Materials reported sales of $284.19 million during the same quarter last year, which indicates a positive year-over-year growth rate of 6.4%. The business is expected to announce its next quarterly earnings report after the market closes on Wednesday, May 5th.

According to Zacks, analysts expect that CMC Materials will report full year sales of $1.21 billion for the current fiscal year, with estimates ranging from $1.19 billion to $1.23 billion. For the next year, analysts anticipate that the firm will post sales of $1.24 billion, with estimates ranging from $1.22 billion to $1.26 billion. Zacks’ sales calculations are an average based on a survey of research analysts that follow CMC Materials.

CMC Materials (NASDAQ:CCMP) last released its earnings results on Tuesday, February 2nd. The semiconductor company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.19. CMC Materials had a return on equity of 21.30% and a net margin of 12.79%. The company had revenue of $287.86 million for the quarter, compared to analyst estimates of $278.34 million. During the same period in the prior year, the firm posted $1.92 EPS. CMC Materials’s quarterly revenue was up 1.7% on a year-over-year basis.

A number of equities analysts have recently issued reports on CCMP shares. Zacks Investment Research downgraded CMC Materials from a “buy” rating to a “hold” rating in a research report on Wednesday. The Goldman Sachs Group raised CMC Materials from a “sell” rating to a “neutral” rating and raised their target price for the stock from $143.00 to $164.00 in a research note on Monday, January 18th. Finally, Citigroup raised their price objective on CMC Materials from $140.00 to $150.00 in a research note on Monday, January 25th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $161.11.

CMC Materials stock traded up $7.97 during trading hours on Wednesday, hitting $187.51. The stock had a trading volume of 112,450 shares, compared to its average volume of 189,813. The company has a quick ratio of 2.30, a current ratio of 3.18 and a debt-to-equity ratio of 0.85. The stock has a market cap of $5.47 billion, a price-to-earnings ratio of 38.82 and a beta of 1.17. CMC Materials has a one year low of $107.31 and a one year high of $198.60. The business’s 50 day simple moving average is $178.06 and its 200-day simple moving average is $160.95.

The business also recently announced a quarterly dividend, which will be paid on Friday, April 23rd. Stockholders of record on Tuesday, March 23rd will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Monday, March 22nd. This is a positive change from CMC Materials’s previous quarterly dividend of $0.44. CMC Materials’s payout ratio is 24.63%.

In related news, VP Bernstein H. Carol Eckstein sold 3,950 shares of the company’s stock in a transaction that occurred on Wednesday, March 10th. The stock was sold at an average price of $166.19, for a total value of $656,450.50. Following the sale, the vice president now owns 47,304 shares in the company, valued at approximately $7,861,451.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David H. Li sold 38,000 shares of the company’s stock in a transaction that occurred on Friday, March 5th. The stock was sold at an average price of $164.67, for a total value of $6,257,460.00. Corporate insiders own 2.40% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of CCMP. Aperio Group LLC lifted its holdings in shares of CMC Materials by 0.9% during the 4th quarter. Aperio Group LLC now owns 11,748 shares of the semiconductor company’s stock valued at $1,777,000 after buying an additional 107 shares during the period. Park Avenue Securities LLC grew its position in shares of CMC Materials by 6.5% during the fourth quarter. Park Avenue Securities LLC now owns 1,927 shares of the semiconductor company’s stock valued at $292,000 after purchasing an additional 118 shares in the last quarter. Marks Group Wealth Management Inc grew its position in shares of CMC Materials by 0.4% during the fourth quarter. Marks Group Wealth Management Inc now owns 31,848 shares of the semiconductor company’s stock valued at $4,818,000 after purchasing an additional 120 shares in the last quarter. Truist Financial Corp grew its position in shares of CMC Materials by 5.4% during the third quarter. Truist Financial Corp now owns 2,461 shares of the semiconductor company’s stock valued at $351,000 after purchasing an additional 127 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in CMC Materials by 1.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 14,210 shares of the semiconductor company’s stock worth $2,150,000 after acquiring an additional 150 shares in the last quarter. Institutional investors and hedge funds own 87.16% of the company’s stock.

CMC Materials Company Profile

CMC Materials, Inc, together with its subsidiaries, provides consumable materials to semiconductor manufacturers, and pipeline and adjacent industry customers in North America, Asia, Europe, the Middle East, Africa, and South America. The company operates through two segments, Electronic Materials and Performance Materials.

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Earnings History and Estimates for CMC Materials (NASDAQ:CCMP)

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