Versum Materials Inc (NYSE:VSM) – Investment analysts at Seaport Global Securities dropped their FY2018 earnings per share estimates for Versum Materials in a research report issued to clients and investors on Wednesday, October 17th, according to Zacks Investment Research. Seaport Global Securities analyst M. Harrison now forecasts that the basic materials company will post earnings per share of $2.32 for the year, down from their prior forecast of $2.34. Seaport Global Securities also issued estimates for Versum Materials’ Q4 2018 earnings at $0.57 EPS, Q1 2019 earnings at $0.60 EPS, Q2 2019 earnings at $0.61 EPS, Q4 2019 earnings at $0.63 EPS, FY2019 earnings at $2.52 EPS and FY2020 earnings at $2.74 EPS.
VSM has been the topic of several other reports. ValuEngine cut Versum Materials from a “hold” rating to a “sell” rating in a research report on Thursday, October 11th. Zacks Investment Research raised Versum Materials from a “sell” rating to a “hold” rating in a report on Saturday. Credit Suisse Group boosted their price objective on Versum Materials from $46.00 to $47.00 and gave the stock an “outperform” rating in a report on Wednesday, August 8th. Finally, KeyCorp boosted their price objective on Versum Materials from $46.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, September 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $46.14.
Versum Materials (NYSE:VSM) last announced its quarterly earnings results on Tuesday, November 6th. The basic materials company reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.03. Versum Materials had a return on equity of 185.48% and a net margin of 14.39%. The firm had revenue of $350.80 million for the quarter, compared to analysts’ expectations of $329.43 million. During the same period in the prior year, the business posted $0.47 earnings per share. The company’s revenue was up 19.1% on a year-over-year basis.
A number of institutional investors and hedge funds have recently modified their holdings of VSM. People s United Financial Inc. purchased a new stake in shares of Versum Materials during the second quarter valued at approximately $16,111,000. Mount Yale Investment Advisors LLC purchased a new stake in shares of Versum Materials during the first quarter valued at approximately $113,000. SeaCrest Wealth Management LLC boosted its stake in shares of Versum Materials by 615.4% during the second quarter. SeaCrest Wealth Management LLC now owns 4,471 shares of the basic materials company’s stock valued at $166,000 after purchasing an additional 3,846 shares during the period. Oakbrook Investments LLC purchased a new stake in shares of Versum Materials during the second quarter valued at approximately $212,000. Finally, Piedmont Investment Advisors Inc. purchased a new stake in shares of Versum Materials during the third quarter valued at approximately $283,000. 92.18% of the stock is owned by institutional investors and hedge funds.
In other news, Director Susan C. Schnabel bought 2,500 shares of the business’s stock in a transaction on Monday, August 13th. The stock was acquired at an average price of $37.49 per share, with a total value of $93,725.00. Following the completion of the purchase, the director now directly owns 16,859 shares in the company, valued at $632,043.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.49% of the stock is owned by corporate insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 27th. Stockholders of record on Tuesday, November 13th will be issued a dividend of $0.08 per share. This is a positive change from Versum Materials’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Friday, November 9th. This represents a $0.32 annualized dividend and a dividend yield of 0.94%. Versum Materials’s payout ratio is presently 10.21%.
About Versum Materials
Versum Materials, Inc develops, manufactures, transports, and handles specialty materials for the semiconductor and display industries in the United States, Taiwan, South Korea, China, Europe, and rest of Asia. It operates in two segments, Materials, and Delivery Systems and Services (DS&S). The Materials segment provides specialty chemicals and materials used in semiconductors, as well as specialty gases used in the semiconductor manufacturing process, including high purity process materials for deposition, metallization, and chamber cleaning and etching; chemicals mechanical planarization slurries; organosilanes; organometallics and liquid dopants for thin film deposition; and formulated chemical products for post-etch cleaning primarily for the manufacture of silicon and compound semiconductors, and thin film transistor liquid crystal displays.
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