W. R. Grace & Co (GRA) Announces Quarterly Earnings Results, Beats Estimates By $0.05 EPS

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W. R. Grace & Co (NYSE:GRA) announced its earnings results on Thursday. The specialty chemicals company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.88 by $0.05, MarketWatch Earnings reports. The firm had revenue of $469.50 million for the quarter, compared to the consensus estimate of $464.99 million. W. R. Grace & Co had a net margin of 8.67% and a return on equity of 95.91%. The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.82 EPS. W. R. Grace & Co updated its FY 2019 guidance to $4.53-4.62 EPS and its FY19 guidance to $4.53-4.62 EPS.

NYSE:GRA opened at $73.17 on Friday. The stock has a market capitalization of $5.03 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 1.40 and a beta of 1.06. W. R. Grace & Co has a 12 month low of $59.22 and a 12 month high of $78.93. The company has a current ratio of 1.67, a quick ratio of 1.12 and a debt-to-equity ratio of 5.82.

Several brokerages recently commented on GRA. Berenberg Bank began coverage on shares of W. R. Grace & Co in a report on Thursday, March 21st. They issued a “buy” rating and a $95.00 target price on the stock. Zacks Investment Research upgraded shares of W. R. Grace & Co from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Friday, February 15th. TheStreet upgraded shares of W. R. Grace & Co from a “c” rating to a “b” rating in a report on Friday, February 8th. National Bank Financial restated an “outperform” rating on shares of W. R. Grace & Co in a report on Monday, January 14th. Finally, Loop Capital set a $89.00 price objective on shares of W. R. Grace & Co and gave the stock a “buy” rating in a report on Friday, January 11th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. W. R. Grace & Co currently has a consensus rating of “Buy” and a consensus price target of $84.70.

A number of large investors have recently added to or reduced their stakes in the business. Private Capital Group LLC increased its stake in W. R. Grace & Co by 24.9% in the first quarter. Private Capital Group LLC now owns 1,249 shares of the specialty chemicals company’s stock valued at $97,000 after purchasing an additional 249 shares in the last quarter. Highland Capital Management LLC bought a new stake in W. R. Grace & Co in the first quarter valued at approximately $1,173,000. Huntington National Bank bought a new stake in W. R. Grace & Co in the first quarter valued at approximately $26,000. Geode Capital Management LLC increased its stake in W. R. Grace & Co by 5.1% in the fourth quarter. Geode Capital Management LLC now owns 623,801 shares of the specialty chemicals company’s stock valued at $40,490,000 after purchasing an additional 30,216 shares in the last quarter. Finally, Norges Bank bought a new stake in W. R. Grace & Co in the fourth quarter valued at approximately $54,688,000. Hedge funds and other institutional investors own 89.59% of the company’s stock.

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About W. R. Grace & Co

W. R. Grace & Co produces and sells specialty chemicals and materials worldwide. It operates through two segments, Grace Catalysts Technologies and Grace Materials Technologies. The Grace Catalysts Technologies segment offers fluid catalytic cracking (FCC) catalysts for the production of transportation fuels, such as gasoline and diesel fuels, and petrochemicals; FCC additives; and methanol-to-olefins catalysts for the conversion of methanol into petrochemical feeds, including ethylene and propylene.

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Earnings History for W. R. Grace & Co (NYSE:GRA)

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