GCP Applied Technologies Inc. (NYSE:GCP) – Equities researchers at KeyCorp lowered their Q3 2017 EPS estimates for GCP Applied Technologies in a research note issued to investors on Sunday. KeyCorp analyst M. Sison now expects that the construction company will earn $0.18 per share for the quarter, down from their previous estimate of $0.27. KeyCorp has a “Overweight” rating and a $36.00 price objective on the stock. KeyCorp also issued estimates for GCP Applied Technologies’ FY2017 earnings at $0.60 EPS and FY2018 earnings at $0.95 EPS.
Separately, Zacks Investment Research cut shares of GCP Applied Technologies from a “buy” rating to a “hold” rating in a research note on Monday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $35.40.
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Shares of GCP Applied Technologies (GCP) opened at 29.85 on Tuesday. The stock has a market cap of $2.14 billion, a P/E ratio of 678.41 and a beta of 0.97. The stock has a 50 day moving average of $30.79 and a 200 day moving average of $30.79. GCP Applied Technologies has a one year low of $25.10 and a one year high of $34.22.
GCP Applied Technologies (NYSE:GCP) last issued its earnings results on Thursday, August 3rd. The construction company reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.01). The firm had revenue of $287.20 million during the quarter, compared to analysts’ expectations of $309.70 million. GCP Applied Technologies had a net margin of 0.26% and a negative return on equity of 44.32%. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year.
A number of institutional investors and hedge funds have recently modified their holdings of GCP. Bank of New York Mellon Corp raised its position in shares of GCP Applied Technologies by 6.7% in the first quarter. Bank of New York Mellon Corp now owns 475,124 shares of the construction company’s stock valued at $15,513,000 after purchasing an additional 29,878 shares during the period. UBS Asset Management Americas Inc. grew its stake in shares of GCP Applied Technologies by 58.0% in the first quarter. UBS Asset Management Americas Inc. now owns 41,303 shares of the construction company’s stock worth $1,349,000 after acquiring an additional 15,158 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of GCP Applied Technologies by 424.9% in the first quarter. Ameriprise Financial Inc. now owns 81,408 shares of the construction company’s stock worth $2,657,000 after acquiring an additional 65,899 shares during the last quarter. Parametric Portfolio Associates LLC grew its stake in shares of GCP Applied Technologies by 53.8% in the first quarter. Parametric Portfolio Associates LLC now owns 93,297 shares of the construction company’s stock worth $3,046,000 after acquiring an additional 32,621 shares during the last quarter. Finally, KBC Group NV grew its stake in shares of GCP Applied Technologies by 4.0% in the first quarter. KBC Group NV now owns 12,064 shares of the construction company’s stock worth $394,000 after acquiring an additional 464 shares during the last quarter. 82.21% of the stock is currently owned by hedge funds and other institutional investors.
About GCP Applied Technologies
GCP Applied Technologies Inc produces and sells specialty construction chemicals, specialty building materials, and packaging sealants and coatings. The Company operates through two segments: Specialty Construction Chemicals and Specialty Building Materials. The Specialty Construction Chemicals segment manufactures and markets products to manage performance of Portland cement, and materials based on Portland cement, such as concrete admixtures and cement additives, as well as concrete production management systems.
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