Versum Materials Inc (NYSE:VSM) – Equities researchers at Seaport Global Securities reduced their FY2018 earnings estimates for shares of Versum Materials in a research report issued on Wednesday, October 17th. Seaport Global Securities analyst M. Harrison now expects that the basic materials company will post earnings per share of $2.32 for the year, down from their previous estimate 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.
A number of other research firms have also recently issued reports on VSM. KeyCorp increased their target price on Versum Materials from $46.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, September 7th. Zacks Investment Research cut Versum Materials from a “hold” rating to a “sell” rating in a report on Friday. Credit Suisse Group increased their target price on Versum Materials from $46.00 to $47.00 and gave the stock an “outperform” rating in a report on Wednesday, August 8th. Finally, ValuEngine cut Versum Materials from a “hold” rating to a “sell” rating in a report on Thursday, October 11th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $46.14.
Versum Materials (NYSE:VSM) last released its earnings results on Tuesday, August 7th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.02. The firm had revenue of $350.00 million during the quarter, compared to analysts’ expectations of $344.20 million. Versum Materials had a return on equity of 264.89% and a net margin of 14.29%.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. grew its holdings in shares of Versum Materials by 1.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 307,236 shares of the basic materials company’s stock valued at $11,413,000 after acquiring an additional 3,516 shares in the last quarter. Credit Agricole S A grew its holdings in shares of Versum Materials by 64.7% in the 2nd quarter. Credit Agricole S A now owns 56,000 shares of the basic materials company’s stock valued at $2,080,000 after acquiring an additional 22,000 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Versum Materials by 4.1% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 42,467 shares of the basic materials company’s stock valued at $1,578,000 after acquiring an additional 1,692 shares in the last quarter. BlueMountain Capital Management LLC grew its holdings in shares of Versum Materials by 112.1% in the 2nd quarter. BlueMountain Capital Management LLC now owns 20,211 shares of the basic materials company’s stock valued at $751,000 after acquiring an additional 10,681 shares in the last quarter. Finally, GSA Capital Partners LLP grew its holdings in shares of Versum Materials by 236.1% in the 2nd quarter. GSA Capital Partners LLP now owns 86,562 shares of the basic materials company’s stock valued at $3,216,000 after acquiring an additional 60,807 shares in the last quarter. Institutional investors own 91.93% of the company’s stock.
In other news, Director Susan C. Schnabel bought 2,500 shares of the stock in a transaction on Monday, August 13th. The stock was purchased at an average price of $37.49 per share, for a total transaction of $93,725.00. Following the acquisition, the director now owns 16,859 shares in the company, valued at $632,043.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.49% of the stock is currently owned by corporate insiders.
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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