RPM International Inc. (RPM) Issues Earnings Results
RPM International Inc. (NYSE:RPM) issued its earnings results on Wednesday. The specialty chemicals company reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.02, MarketWatch Earnings reports. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.32 billion. RPM International had a return on equity of 24.73% and a net margin of 3.67%. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.83 earnings per share. RPM International updated its FY18 guidance to $2.85-2.95 EPS.
Shares of RPM International (RPM) opened at 51.63 on Friday. RPM International has a 52 week low of $46.25 and a 52 week high of $56.48. The firm has a market cap of $6.90 billion, a PE ratio of 37.82 and a beta of 1.55. The firm has a 50-day moving average price of $49.99 and a 200-day moving average price of $52.51.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Monday, October 16th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.48%. This is a boost from RPM International’s previous quarterly dividend of $0.30. RPM International’s dividend payout ratio (DPR) is 88.89%.
In other news, SVP Edward W. Moore sold 10,568 shares of the stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $52.04, for a total value of $549,958.72. Following the completion of the transaction, the senior vice president now owns 92,549 shares of the company’s stock, valued at approximately $4,816,249.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.10% of the stock is currently owned by corporate insiders.
A number of brokerages have weighed in on RPM. BidaskClub upgraded RPM International from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. Zacks Investment Research upgraded RPM International from a “sell” rating to a “hold” rating in a report on Saturday, July 29th. Wellington Shields upgraded RPM International from a “hold” rating to an “accumulate” rating in a report on Friday, August 18th. Bank of America Corporation lowered their target price on RPM International from $58.00 to $56.00 and set a “neutral” rating for the company in a report on Tuesday, July 25th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $49.00 target price on shares of RPM International in a report on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. RPM International currently has an average rating of “Hold” and a consensus target price of $57.00.
RPM International Company Profile
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, focusing on the maintenance of industrial, specialty and consumer markets. The Company operates through three segments: the industrial reportable segment (industrial segment), the specialty reportable segment (specialty segment) and the consumer reportable segment (consumer segment).
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