GCP Applied Technologies Inc. (NYSE:GCP) issued an update on its FY17 earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.60-0.65 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.61.
GCP Applied Technologies (NYSE:GCP) last posted its quarterly earnings results on Thursday, November 2nd. The construction company reported $0.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.03. GCP Applied Technologies had a negative return on equity of 44.32% and a net margin of 0.26%. The business had revenue of $282.40 million during the quarter, compared to the consensus estimate of $279.05 million. During the same period last year, the firm earned $0.21 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year.
A number of brokerages have commented on GCP. Zacks Investment Research downgraded GCP Applied Technologies from a buy rating to a hold rating in a research note on Monday, October 16th. Cowen and Company began coverage on GCP Applied Technologies in a research note on Monday. They issued a market perform rating and a $31.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. GCP Applied Technologies presently has a consensus rating of Buy and an average target price of $34.67.
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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.
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