GCP Applied Technologies Inc. (GCP) to Post Q3 2017 Earnings of $0.27 Per Share, KeyCorp Forecasts

GCP Applied Technologies Inc. (NYSE:GCP) – Equities researchers at KeyCorp decreased their Q3 2017 earnings per share estimates for shares of GCP Applied Technologies in a research note issued to investors on Thursday. KeyCorp analyst M. Sison now forecasts that the construction company will post earnings per share of $0.27 for the quarter, down from their prior estimate of $0.30. KeyCorp currently has a “Overweight” rating and a $36.00 price objective on the stock. KeyCorp also issued estimates for GCP Applied Technologies’ FY2017 earnings at $0.75 EPS and FY2018 earnings at $1.05 EPS.

Separately, Zacks Investment Research upgraded GCP Applied Technologies from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 12th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $35.50.

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Shares of GCP Applied Technologies (GCP) opened at 29.95 on Monday. GCP Applied Technologies has a 52-week low of $25.10 and a 52-week high of $34.22. The stock has a 50 day moving average price of $30.64 and a 200-day moving average price of $30.50. The firm has a market capitalization of $2.14 billion, a PE ratio of 55.77 and a beta of 0.76.

GCP Applied Technologies (NYSE:GCP) last released its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.23 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.24 by $0.01. GCP Applied Technologies had a net margin of 0.26% and a negative return on equity of 44.32%. The business had revenue of $287.20 million during the quarter, compared to analyst estimates of $309.70 million. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year.

Institutional investors have recently made changes to their positions in the company. Artisan Partners Limited Partnership increased its position in shares of GCP Applied Technologies by 1,930.5% in the first quarter. Artisan Partners Limited Partnership now owns 491,109 shares of the construction company’s stock worth $16,035,000 after buying an additional 466,922 shares during the last quarter. Parametric Portfolio Associates LLC increased its position 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 buying an additional 32,621 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of GCP Applied Technologies by 65.3% in the first quarter. Russell Investments Group Ltd. now owns 65,621 shares of the construction company’s stock worth $2,143,000 after buying an additional 25,931 shares during the last quarter. Gamco Investors INC. ET AL acquired a new position in shares of GCP Applied Technologies during the first quarter worth $597,000. Finally, Highbridge Capital Management LLC acquired a new position in shares of GCP Applied Technologies during the fourth quarter worth $253,000. Hedge funds and other institutional investors own 81.64% of the company’s stock.

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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