Research Analysts Issue Forecasts for RPM International Inc.’s Q2 2017 Earnings (RPM)
RPM International Inc. (NYSE:RPM) – Investment analysts at Seaport Global Securities cut their Q2 2017 earnings per share (EPS) estimates for RPM International in a research note issued on Monday. Seaport Global Securities analyst M. Harrison now forecasts that the brokerage will post earnings per share of $0.64 for the quarter, down from their prior forecast of $0.67. Seaport Global Securities has a “Neutral” rating and a $57.00 price target on the stock. Seaport Global Securities also issued estimates for RPM International’s Q3 2017 earnings at $0.16 EPS, Q4 2017 earnings at $1.15 EPS, Q1 2018 earnings at $0.90 EPS, Q2 2018 earnings at $0.74 EPS, Q3 2018 earnings at $0.25 EPS, Q4 2018 earnings at $1.24 EPS and FY2018 earnings at $3.13 EPS.
RPM International (NYSE:RPM) last announced its quarterly earnings results on Wednesday, October 5th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.03. RPM International had a return on equity of 27.52% and a net margin of 7.62%. The company earned $1.25 billion during the quarter. During the same period in the previous year, the firm posted $0.74 earnings per share. The company’s revenue was up .5% compared to the same quarter last year.
RPM has been the topic of a number of other research reports. JPMorgan Chase & Co. reiterated a “hold” rating on shares of RPM International in a report on Monday, July 18th. Zacks Investment Research downgraded RPM International from a “hold” rating to a “sell” rating in a report on Tuesday, June 14th. Wells Fargo & Co. reiterated a “buy” rating on shares of RPM International in a report on Wednesday, October 5th. Morgan Stanley reiterated a “buy” rating on shares of RPM International in a report on Thursday, June 16th. Finally, Wellington Shields downgraded RPM International from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $54.67.
Shares of RPM International (NYSE:RPM) traded down 0.08% on Wednesday, reaching $48.29. The company’s stock had a trading volume of 317,579 shares. The stock has a 50-day moving average price of $52.89 and a 200-day moving average price of $51.41. The company has a market capitalization of $6.44 billion, a price-to-earnings ratio of 17.71 and a beta of 1.38. RPM International has a 1-year low of $36.78 and a 1-year high of $55.92.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RPM. Cribstone Capital Management LLC purchased a new position in RPM International during the second quarter worth about $112,000. Fuller & Thaler Asset Management Inc. purchased a new position in RPM International during the second quarter worth about $115,000. Moon Capital Management LLC purchased a new position in RPM International during the second quarter worth about $199,000. FDx Advisors Inc. bought a new stake in RPM International during the second quarter worth $205,000. Finally, Johnson Financial Group Inc. bought a new stake in RPM International during the second quarter worth $250,000. Hedge funds and other institutional investors own 72.08% of the company’s stock.
In related news, Chairman Frank C. Sullivan sold 60,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $53.56, for a total transaction of $3,213,600.00. Following the transaction, the chairman now owns 1,144,622 shares in the company, valued at approximately $61,305,954.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Barry Slifstein sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $54.27, for a total value of $54,270.00. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Monday, October 17th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend is Thursday, October 13th. This is an increase from RPM International’s previous quarterly dividend of $0.28. RPM International’s dividend payout ratio (DPR) is currently 40.44%.
About RPM International
RPM International Inc, through its subsidiaries, manufactures, markets and sells various specialty chemical product lines, including specialty paints, protective coatings, roofing systems, sealants and adhesives. The Company operates through two segments, which include industrial segment and consumer segment.
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