GCP Applied Technologies Inc. (GCP) Updates Q3 Earnings Guidance

GCP Applied Technologies Inc. (NYSE:GCP) updated its third quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.17-0.21 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.30. The company issued revenue guidance of $276-282 million, compared to the consensus revenue estimate of $311.00 million.GCP Applied Technologies also updated its FY17 guidance to $0.60-0.65 EPS.

Several research analysts have issued reports on the stock. Zacks Investment Research lowered shares of GCP Applied Technologies from a hold rating to a strong sell rating in a research note on Wednesday, August 2nd. KeyCorp raised shares of GCP Applied Technologies from a sector weight rating to an overweight rating and set a $36.00 target price for the company in a research note on Thursday, June 22nd. Five investment analysts have rated the stock with a buy rating, The stock presently has a consensus rating of Buy and a consensus target price of $35.40.

GCP Applied Technologies Inc. (NYSE GCP) traded down 0.31% during mid-day trading on Thursday, reaching $31.75. 383,569 shares of the company were exchanged. The company’s 50 day moving average price is $30.92 and its 200-day moving average price is $30.92. GCP Applied Technologies Inc. has a 12-month low of $25.10 and a 12-month high of $34.22. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 721.59 and a beta of 0.97.

GCP Applied Technologies (NYSE:GCP) last announced its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.01). The firm had revenue of $287.20 million for 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%. GCP Applied Technologies’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, equities research analysts forecast that GCP Applied Technologies Inc. will post $0.78 earnings per share for the current fiscal year.

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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.

Earnings History and Estimates for GCP Applied Technologies (NYSE:GCP)

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