FY2016 EPS Estimates for GCP Applied Technologies Inc. (GCP) Reduced by KeyCorp
GCP Applied Technologies Inc. (NYSE:GCP) – Analysts at KeyCorp decreased their FY2016 earnings per share (EPS) estimates for GCP Applied Technologies in a report issued on Wednesday. KeyCorp analyst I. Marcuse now expects that the firm will post earnings of $1.40 per share for the year, down from their previous estimate of $1.45. KeyCorp also issued estimates for GCP Applied Technologies’ Q4 2016 earnings at $0.29 EPS and FY2017 earnings at $1.60 EPS.
GCP Applied Technologies (NYSE:GCP) last announced its quarterly earnings results on Wednesday, November 9th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by $0.06. GCP Applied Technologies had a return on equity of 1,424.27% and a net margin of 5.61%. The business had revenue of $342.50 million for the quarter, compared to analyst estimates of $362.50 million.
Separately, Zacks Investment Research raised GCP Applied Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, September 6th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $22.00.
Hedge funds and other institutional investors have recently modified their holdings of the company. Simplex Trading LLC purchased a new position in shares of GCP Applied Technologies during the third quarter valued at $122,000. BNP Paribas Arbitrage SA raised its position in shares of GCP Applied Technologies by 99.4% in the third quarter. BNP Paribas Arbitrage SA now owns 5,955 shares of the company’s stock worth $169,000 after buying an additional 2,968 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of GCP Applied Technologies during the third quarter worth approximately $203,000. Amalgamated Bank bought a new position in shares of GCP Applied Technologies during the second quarter worth approximately $206,000. Finally, Kimelman & Baird LLC bought a new position in shares of GCP Applied Technologies during the second quarter worth approximately $226,000. 85.07% of the stock is currently owned by institutional investors.
About GCP Applied Technologies
GCP Applied Technologies Inc (GCP) is engaged in the production and sale of specialty construction chemicals, specialty building materials, and packaging sealants and coatings. The Company operates through three segments: Specialty Construction Chemicals (SCC), Specialty Building Materials (SBM) and Darex Packaging Technologies (Darex).
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