Calgon Carbon Corporation (CCC) Downgraded by Zacks Investment Research to “Sell”
Zacks Investment Research downgraded shares of Calgon Carbon Corporation (NYSE:CCC) from a hold rating to a sell rating in a research note released on Tuesday.
According to Zacks, “Earnings estimates of Calgon Carbon for the third quarter have been going down of late. Calgon Carbon’s industrial end-markets remain sluggish. The company is seeing weak demand for activated carbon in specific markets. It is also exposed to weakness in its equipment business and currency headwinds.”
Several other brokerages have also issued reports on CCC. BidaskClub raised shares of Calgon Carbon Corporation from a hold rating to a buy rating in a report on Tuesday, July 11th. Sidoti reissued a buy rating and set a $20.00 price objective (up from $18.00) on shares of Calgon Carbon Corporation in a report on Wednesday, July 12th. Janney Montgomery Scott lowered shares of Calgon Carbon Corporation from a buy rating to a neutral rating and cut their price objective for the company from $18.00 to $16.00 in a report on Thursday, July 13th. Finally, Robert W. Baird lifted their price objective on shares of Calgon Carbon Corporation from $17.00 to $21.00 and gave the company a neutral rating in a report on Friday, September 22nd. Three equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock has an average rating of Hold and an average target price of $19.63.
Shares of Calgon Carbon Corporation (NYSE CCC) traded down 0.116% on Tuesday, reaching $21.525. The company had a trading volume of 37,858 shares. The stock’s 50 day moving average is $16.26 and its 200 day moving average is $15.01. Calgon Carbon Corporation has a 52 week low of $12.00 and a 52 week high of $22.10. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 153.750 and a beta of 1.28.
Calgon Carbon Corporation (NYSE:CCC) last issued its earnings results on Friday, August 4th. The industrial products company reported $0.14 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.14. The business had revenue of $153.00 million for the quarter, compared to analyst estimates of $151.18 million. Calgon Carbon Corporation had a net margin of 1.27% and a return on equity of 5.46%. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period last year, the company posted $0.15 earnings per share. On average, equities analysts anticipate that Calgon Carbon Corporation will post $0.50 EPS for the current year.
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The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Tuesday, September 5th were paid a $0.05 dividend. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $0.20 annualized dividend and a yield of 0.93%. Calgon Carbon Corporation’s dividend payout ratio (DPR) is 133.33%.
Institutional investors and hedge funds have recently made changes to their positions in the business. Envestnet Asset Management Inc. boosted its stake in Calgon Carbon Corporation by 10.7% in the first quarter. Envestnet Asset Management Inc. now owns 7,703 shares of the industrial products company’s stock valued at $113,000 after acquiring an additional 747 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in Calgon Carbon Corporation by 79.3% in the second quarter. State of Alaska Department of Revenue now owns 10,023 shares of the industrial products company’s stock valued at $151,000 after acquiring an additional 4,433 shares in the last quarter. BlueCrest Capital Management Ltd boosted its stake in Calgon Carbon Corporation by 5.7% in the first quarter. BlueCrest Capital Management Ltd now owns 10,621 shares of the industrial products company’s stock valued at $155,000 after acquiring an additional 571 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Calgon Carbon Corporation by 0.4% in the first quarter. BNP Paribas Arbitrage SA now owns 11,390 shares of the industrial products company’s stock valued at $166,000 after acquiring an additional 51 shares in the last quarter. Finally, Piedmont Investment Advisors LLC acquired a new stake in Calgon Carbon Corporation in the second quarter valued at approximately $166,000. Institutional investors own 85.18% of the company’s stock.
Calgon Carbon Corporation Company Profile
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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