Wall Street brokerages expect Versum Materials Inc. (NYSE:VSM) to report sales of $258.90 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Versum Materials’ earnings, with the lowest sales estimate coming in at $253.80 million and the highest estimate coming in at $264.00 million. The firm is expected to issue its next earnings results on Tuesday, August 1st.
According to Zacks, analysts expect that Versum Materials will report full-year sales of $258.90 million for the current fiscal year, with estimates ranging from $1.05 billion to $1.07 billion. For the next year, analysts forecast that the business will post sales of $1.12 billion per share, with estimates ranging from $1.10 billion to $1.14 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Versum Materials.
Versum Materials (NYSE:VSM) last issued its quarterly earnings data on Tuesday, May 2nd. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.44. The company had revenue of $270.80 million for the quarter, compared to analysts’ expectations of $249.95 million. During the same quarter last year, the company earned $0.48 earnings per share. The company’s revenue for the quarter was up 16.0% on a year-over-year basis.
Several analysts have recently commented on VSM shares. Aegis started coverage on shares of Versum Materials in a research report on Friday, March 17th. They set a “hold” rating and a $33.00 price target on the stock. Credit Suisse Group set a $33.00 price target on shares of Versum Materials and gave the company a “buy” rating in a research report on Tuesday, May 2nd. Finally, Zacks Investment Research lowered shares of Versum Materials from a “buy” rating to a “hold” rating in a research report on Saturday, May 6th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $30.67.
Several hedge funds have recently added to or reduced their stakes in the stock. Fayez Sarofim & Co. purchased a new stake in Versum Materials during the third quarter valued at approximately $1,486,000. Russell Investments Group Ltd. purchased a new stake in Versum Materials during the fourth quarter valued at approximately $6,600,000. BP PLC purchased a new stake in Versum Materials during the fourth quarter valued at approximately $393,000. Aberdeen Asset Management PLC UK purchased a new stake in shares of Versum Materials during the fourth quarter worth about $348,000. Finally, Bessemer Group Inc. purchased a new stake in shares of Versum Materials during the fourth quarter worth about $143,000. 89.93% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Versum Materials (NYSE VSM) traded up 1.33% during midday trading on Thursday, reaching $31.30. The company’s stock had a trading volume of 636,222 shares. The stock’s 50 day moving average price is $31.17 and its 200 day moving average price is $29.53. Versum Materials has a one year low of $21.86 and a one year high of $33.01. The firm has a market cap of $3.40 billion and a price-to-earnings ratio of 18.03.
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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