Aceto Co. (NASDAQ:ACET) – Stock analysts at First Analysis reduced their FY2018 earnings estimates for Aceto in a research report issued on Monday, Zacks Investment Research reports. First Analysis analyst S. Schwartz now forecasts that the company will post earnings of $1.02 per share for the year, down from their prior estimate of $1.07. First Analysis also issued estimates for Aceto’s Q4 2018 earnings at $0.26 EPS, Q1 2019 earnings at $0.29 EPS, Q2 2019 earnings at $0.31 EPS and FY2019 earnings at $1.15 EPS.
Aceto (NASDAQ:ACET) last issued its quarterly earnings results on Thursday, February 1st. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). The business had revenue of $171.20 million for the quarter, compared to the consensus estimate of $176.50 million. Aceto had a positive return on equity of 10.26% and a negative net margin of 0.79%. Aceto’s revenue was up 36.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.24 earnings per share.
Several other research firms also recently commented on ACET. Canaccord Genuity set a $15.00 price objective on Aceto and gave the company a “buy” rating in a report on Monday, October 30th. Zacks Investment Research raised Aceto from a “strong sell” rating to a “hold” rating in a report on Monday, October 30th. BidaskClub downgraded Aceto from a “sell” rating to a “strong sell” rating in a report on Friday, December 15th. Finally, ValuEngine downgraded Aceto from a “buy” rating to a “hold” rating in a report on Sunday, December 31st.
Shares of Aceto (NASDAQ:ACET) traded down $0.56 on Tuesday, hitting $7.14. 768,500 shares of the stock traded hands, compared to its average volume of 562,075. The company has a market cap of $219.08, a PE ratio of -42.06, a P/E/G ratio of 0.75 and a beta of 1.40. Aceto has a one year low of $7.06 and a one year high of $17.10. The company has a quick ratio of 1.38, a current ratio of 2.00 and a debt-to-equity ratio of 0.79.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Friday, March 9th will be issued a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a yield of 3.64%. The ex-dividend date is Thursday, March 8th. Aceto’s dividend payout ratio is -152.94%.
Institutional investors have recently made changes to their positions in the business. State Street Corp lifted its holdings in Aceto by 1.6% during the 2nd quarter. State Street Corp now owns 813,664 shares of the company’s stock valued at $12,574,000 after purchasing an additional 13,159 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of Aceto during the third quarter worth $263,000. Fisher Asset Management LLC lifted its holdings in shares of Aceto by 12.1% during the third quarter. Fisher Asset Management LLC now owns 154,668 shares of the company’s stock worth $1,737,000 after buying an additional 16,650 shares in the last quarter. Citadel Advisors LLC lifted its holdings in shares of Aceto by 31.0% during the third quarter. Citadel Advisors LLC now owns 315,578 shares of the company’s stock worth $3,544,000 after buying an additional 74,674 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan lifted its holdings in shares of Aceto by 73.3% during the third quarter. Municipal Employees Retirement System of Michigan now owns 182,960 shares of the company’s stock worth $2,055,000 after buying an additional 77,360 shares in the last quarter. 76.72% of the stock is owned by institutional investors and hedge funds.
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Aceto Company Profile
Aceto Corporation (Aceto) is engaged in the marketing, sales and distribution of finished dosage form generic pharmaceuticals, nutraceutical products, pharmaceutical active ingredients and intermediates, specialty performance chemicals inclusive of agricultural intermediates and agricultural protection products.
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