GCP Applied Technologies Inc (NYSE:GCP) – Analysts at Seaport Global Securities dropped their FY2018 earnings per share (EPS) estimates for shares of GCP Applied Technologies in a research note issued to investors on Wednesday, January 16th. Seaport Global Securities analyst M. Harrison now anticipates that the construction company will post earnings of $0.89 per share for the year, down from their prior forecast of $0.94. Seaport Global Securities has a “Neutral” rating on the stock. Seaport Global Securities also issued estimates for GCP Applied Technologies’ Q4 2018 earnings at $0.27 EPS.
GCP Applied Technologies (NYSE:GCP) last released its quarterly earnings results on Tuesday, November 6th. The construction company reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.02. GCP Applied Technologies had a positive return on equity of 12.89% and a negative net margin of 8.19%. The firm had revenue of $296.30 million during the quarter, compared to analysts’ expectations of $299.50 million. During the same period last year, the firm posted $0.22 EPS. The business’s revenue was up 4.9% on a year-over-year basis.
GCP has been the subject of a number of other reports. Zacks Investment Research raised GCP Applied Technologies from a “sell” rating to a “hold” rating and set a $29.00 price target for the company in a report on Friday, January 11th. CL King reaffirmed a “neutral” rating on shares of GCP Applied Technologies in a report on Thursday, December 13th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $31.75.
GCP stock opened at $25.26 on Friday. GCP Applied Technologies has a fifty-two week low of $22.49 and a fifty-two week high of $34.79. The firm has a market cap of $1.78 billion, a P/E ratio of 39.47, a price-to-earnings-growth ratio of 1.25 and a beta of 0.99. The company has a quick ratio of 1.92, a current ratio of 2.31 and a debt-to-equity ratio of 0.75.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of Nova Scotia acquired a new stake in shares of GCP Applied Technologies in the 2nd quarter valued at $3,879,000. Gabelli Funds LLC increased its stake in shares of GCP Applied Technologies by 37.5% in the 3rd quarter. Gabelli Funds LLC now owns 371,012 shares of the construction company’s stock valued at $9,850,000 after buying an additional 101,112 shares during the period. Russell Investments Group Ltd. increased its stake in shares of GCP Applied Technologies by 4.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 62,315 shares of the construction company’s stock valued at $1,804,000 after buying an additional 2,899 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in shares of GCP Applied Technologies in the 3rd quarter valued at $226,000. Finally, Wells Fargo & Company MN increased its stake in shares of GCP Applied Technologies by 292.3% in the 3rd quarter. Wells Fargo & Company MN now owns 419,542 shares of the construction company’s stock valued at $11,139,000 after buying an additional 312,606 shares during the period. 83.84% of the stock is owned by institutional investors.
In other news, CEO Gregory E. Poling sold 32,162 shares of GCP Applied Technologies stock in a transaction on Monday, January 7th. The stock was sold at an average price of $25.70, for a total value of $826,563.40. Following the completion of the sale, the chief executive officer now directly owns 78,504 shares of the company’s stock, valued at approximately $2,017,552.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is currently owned by company insiders.
GCP Applied Technologies Company Profile
GCP Applied Technologies Inc produces and sells specialty construction chemicals and specialty building materials worldwide. Its Specialty Construction Chemicals segment offers concrete admixtures under the CONCERA, CLARENA, ADVA, STRUX, MIRA, TYTRO, POLARSET, ECLIPSE, DARACEM, DARASET, DCI, RECOVER, WRDA, and ZYLA brands; admixtures for decorative concrete under the PIERI brand; concrete production management system under the VERIFI and DUCTILCRETE brands; and cement additives under the OPTEVA HE, TAVERO VM, CBA, SYNCHRO, HEA2, TDA, and ESE brands.
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