Versum Materials Inc. (NYSE:VSM) – Investment analysts at Seaport Global Securities raised their FY2017 earnings per share estimates for shares of Versum Materials in a research report issued to clients and investors on Wednesday. Seaport Global Securities analyst M. Harrison now anticipates that the basic materials company will post earnings per share of $1.94 for the year, up from their previous forecast of $1.79. Seaport Global Securities also issued estimates for Versum Materials’ Q4 2017 earnings at $0.50 EPS, Q1 2018 earnings at $0.57 EPS, Q2 2018 earnings at $0.54 EPS, Q3 2018 earnings at $0.56 EPS, Q4 2018 earnings at $0.56 EPS and FY2018 earnings at $2.23 EPS.
Versum Materials (NYSE:VSM) last released its earnings results on Tuesday, August 1st. The basic materials company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.08. Versum Materials had a negative return on equity of 261.88% and a net margin of 17.91%. The firm had revenue of $290.80 million for the quarter, compared to analyst estimates of $265.64 million. During the same quarter in the prior year, the firm posted $0.45 earnings per share. The company’s quarterly revenue was up 19.8% on a year-over-year basis.
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Several other equities research analysts have also commented on the company. Zacks Investment Research lowered Versum Materials from a “buy” rating to a “hold” rating in a research report on Saturday, May 6th. Credit Suisse Group set a $33.00 target price on Versum Materials and gave the company a “buy” rating in a research report on Tuesday, May 2nd. Aegis upgraded Versum Materials from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research report on Friday, June 23rd. Needham & Company LLC initiated coverage on Versum Materials in a research report on Monday, July 10th. They set a “buy” rating and a $38.00 target price on the stock. Finally, Jefferies Group LLC restated a “hold” rating and set a $38.00 target price (up previously from $34.00) on shares of Versum Materials in a research report on Wednesday, August 2nd. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Versum Materials presently has a consensus rating of “Buy” and an average target price of $34.30.
Versum Materials (VSM) traded up 0.54% during trading on Friday, reaching $35.11. The company’s stock had a trading volume of 58,087 shares. The firm has a 50 day moving average price of $34.16 and a 200-day moving average price of $31.30. Versum Materials has a 52-week low of $21.86 and a 52-week high of $37.40. The stock has a market cap of $3.82 billion and a price-to-earnings ratio of 19.84.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in Versum Materials by 12.0% in the second quarter. BlackRock Inc. now owns 9,045,328 shares of the basic materials company’s stock worth $293,975,000 after buying an additional 972,001 shares during the period. Vanguard Group Inc. increased its position in Versum Materials by 1.4% in the first quarter. Vanguard Group Inc. now owns 8,796,978 shares of the basic materials company’s stock worth $269,187,000 after buying an additional 125,435 shares during the period. Franklin Resources Inc. increased its position in Versum Materials by 3.3% in the second quarter. Franklin Resources Inc. now owns 4,713,791 shares of the basic materials company’s stock worth $153,198,000 after buying an additional 149,014 shares during the period. Iridian Asset Management LLC CT increased its position in Versum Materials by 38.8% in the second quarter. Iridian Asset Management LLC CT now owns 4,413,786 shares of the basic materials company’s stock worth $143,448,000 after buying an additional 1,234,079 shares during the period. Finally, Shapiro Capital Management LLC increased its position in Versum Materials by 39.9% in the first quarter. Shapiro Capital Management LLC now owns 4,234,338 shares of the basic materials company’s stock worth $129,571,000 after buying an additional 1,207,568 shares during the period. 88.60% of the stock is currently owned by institutional investors and hedge funds.
In other Versum Materials news, Director Jacques M. Croisetiere bought 2,750 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The shares were bought at an average price of $36.00 per share, for a total transaction of $99,000.00. Following the transaction, the director now directly owns 8,376 shares in the company, valued at $301,536. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.49% of the stock is owned by corporate insiders.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 21st. Investors of record on Monday, August 7th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, August 3rd. This represents a $0.20 annualized dividend and a dividend yield of 0.57%.
About Versum Materials
Versum Materials, Inc is a provider of solutions to the semiconductor and display industries. The Company is engaged in the development, manufacturing, transportation and handling of specialty materials. Its segments include Materials; Delivery Systems and Services (DS&S), and Corporate. The Materials segment is an integrated provider of specialty materials for the electronics industry, focusing on the integrated circuit and flat-panel display markets.
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