Brokerages Anticipate Calgon Carbon Corporation (NYSE:CCC) Will Announce Quarterly Sales of $156.62 Million
Wall Street analysts expect that Calgon Carbon Corporation (NYSE:CCC) will post sales of $156.62 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Calgon Carbon Corporation’s earnings, with estimates ranging from $156.00 million to $157.25 million. Calgon Carbon Corporation reported sales of $123.97 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 26.3%. The business is expected to issue its next earnings results on Thursday, November 2nd.
According to Zacks, analysts expect that Calgon Carbon Corporation will report full year sales of $156.62 million for the current financial year, with estimates ranging from $607.00 million to $621.10 million. For the next financial year, analysts expect that the company will report sales of $639.23 million per share, with estimates ranging from $627.00 million to $650.70 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Calgon Carbon Corporation.
Calgon Carbon Corporation (NYSE:CCC) last issued its earnings results on Friday, August 4th. The industrial products company reported $0.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.14. The company had revenue of $153 million for the quarter, compared to the consensus estimate of $151.18 million. Calgon Carbon Corporation had a return on equity of 5.46% and a net margin of 1.27%. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the company earned $0.15 EPS.
CCC has been the subject of a number of research analyst reports. Zacks Investment Research raised Calgon Carbon Corporation from a “strong sell” rating to a “hold” rating in a report on Monday, May 1st. ValuEngine raised Calgon Carbon Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 3rd. Sidoti initiated coverage on Calgon Carbon Corporation in a report on Wednesday, June 7th. They set a “buy” rating and a $18.00 target price for the company. BidaskClub raised Calgon Carbon Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. Finally, Janney Montgomery Scott cut Calgon Carbon Corporation from a “buy” rating to a “neutral” rating and reduced their target price for the company from $18.00 to $16.00 in a report on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $18.20.
Shares of Calgon Carbon Corporation (CCC) opened at 13.95 on Friday. The company has a market cap of $708.58 million, a P/E ratio of 100.36 and a beta of 1.09. Calgon Carbon Corporation has a 52 week low of $13.10 and a 52 week high of $18.80. The company’s 50-day moving average price is $15.50 and its 200 day moving average price is $14.79.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, September 5th will be issued a $0.05 dividend. The ex-dividend date is Thursday, August 31st. This represents a $0.20 annualized dividend and a dividend yield of 1.43%. Calgon Carbon Corporation’s dividend payout ratio is presently 133.33%.
In related news, Director J Rich Alexander sold 5,251 shares of the stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $14.25, for a total value of $74,826.75. Following the completion of the sale, the director now owns 24,183 shares of the company’s stock, valued at $344,607.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.32% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of CCC. Norges Bank bought a new stake in Calgon Carbon Corporation during the fourth quarter valued at approximately $8,245,000. Teachers Advisors LLC boosted its stake in Calgon Carbon Corporation by 2.4% in the fourth quarter. Teachers Advisors LLC now owns 83,074 shares of the industrial products company’s stock valued at $1,412,000 after buying an additional 1,958 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in Calgon Carbon Corporation by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 20,600 shares of the industrial products company’s stock valued at $301,000 after buying an additional 200 shares in the last quarter. John G Ullman & Associates Inc. boosted its stake in Calgon Carbon Corporation by 37.3% in the first quarter. John G Ullman & Associates Inc. now owns 301,702 shares of the industrial products company’s stock valued at $4,405,000 after buying an additional 82,002 shares in the last quarter. Finally, Narwhal Capital Management bought a new stake in Calgon Carbon Corporation during the first quarter valued at approximately $163,000. 81.41% of the stock is owned by hedge funds and other institutional investors.
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About Calgon Carbon Corporation
Calgon Carbon Corporation is a manufacturer of activated carbon, with capabilities in ultraviolet (UV) light disinfection. The Company provides purification solutions for drinking water, wastewater, pollution abatement, and a range of industrial and commercial manufacturing processes. The Company operates through four segments: Activated Carbon and Service, Equipment, Consumer and Other.
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