Versum Materials Inc (NYSE:VSM) – Research analysts at Jefferies Financial Group lowered their FY2020 earnings per share (EPS) estimates for Versum Materials in a research note issued to investors on Wednesday, November 7th. Jefferies Financial Group analyst L. Alexander now expects that the basic materials company will earn $2.60 per share for the year, down from their prior forecast of $2.70. Jefferies Financial Group also issued estimates for Versum Materials’ FY2021 earnings at $3.20 EPS.
Versum Materials (NYSE:VSM) last released its quarterly earnings results on Tuesday, November 6th. The basic materials company reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.03. The company had revenue of $350.80 million for the quarter, compared to analysts’ expectations of $329.43 million. Versum Materials had a return on equity of 225.00% and a net margin of 14.39%. The business’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.47 earnings per share.
Several other analysts have also recently commented on VSM. Zacks Investment Research cut Versum Materials from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. Credit Suisse Group upped their target price on Versum Materials from $46.00 to $47.00 and gave the company an “outperform” rating in a report on Wednesday, August 8th. KeyCorp upped their target price on Versum Materials from $46.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, September 7th. Finally, ValuEngine cut Versum Materials from a “hold” rating to a “sell” rating in a report on Thursday, October 11th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $46.14.
Shares of VSM stock opened at $35.38 on Thursday. Versum Materials has a one year low of $28.96 and a one year high of $42.60. The company has a market capitalization of $3.59 billion, a P/E ratio of 15.06, a P/E/G ratio of 1.00 and a beta of 1.06. The company has a current ratio of 4.43, a quick ratio of 3.39 and a debt-to-equity ratio of 6.20.
A number of hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. boosted its holdings in shares of Versum Materials by 1.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 307,236 shares of the basic materials company’s stock worth $11,413,000 after buying an additional 3,516 shares in the last quarter. Credit Agricole S A boosted its holdings in shares of Versum Materials by 64.7% during the 2nd quarter. Credit Agricole S A now owns 56,000 shares of the basic materials company’s stock worth $2,080,000 after buying an additional 22,000 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Versum Materials by 4.1% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 42,467 shares of the basic materials company’s stock worth $1,578,000 after buying an additional 1,692 shares in the last quarter. BlueMountain Capital Management LLC boosted its holdings in shares of Versum Materials by 112.1% during the 2nd quarter. BlueMountain Capital Management LLC now owns 20,211 shares of the basic materials company’s stock worth $751,000 after buying an additional 10,681 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Versum Materials by 3.7% during the 2nd quarter. Northern Trust Corp now owns 971,175 shares of the basic materials company’s stock worth $36,079,000 after buying an additional 34,672 shares in the last quarter. Institutional investors and hedge funds own 92.18% of the company’s stock.
In related news, Director Susan C. Schnabel bought 2,500 shares of Versum Materials stock in a transaction that occurred on Monday, August 13th. The shares were acquired at an average cost of $37.49 per share, for a total transaction of $93,725.00. Following the completion of the acquisition, the director now directly owns 16,859 shares of the company’s stock, valued at approximately $632,043.91. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.49% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 27th. Investors of record on Tuesday, November 13th will be issued a $0.08 dividend. The ex-dividend date is Friday, November 9th. This is a boost from Versum Materials’s previous quarterly dividend of $0.06. This represents a $0.32 annualized dividend and a yield of 0.90%. Versum Materials’s dividend payout ratio is presently 10.21%.
Versum Materials Company Profile
Versum Materials, Inc develops, manufactures, transports, and handles specialty materials for the semiconductor and display industries in the United States, Taiwan, South Korea, China, Europe, and rest of Asia. It operates in two segments, Materials, and Delivery Systems and Services (DS&S). The Materials segment provides specialty chemicals and materials used in semiconductors, as well as specialty gases used in the semiconductor manufacturing process, including high purity process materials for deposition, metallization, and chamber cleaning and etching; chemicals mechanical planarization slurries; organosilanes; organometallics and liquid dopants for thin film deposition; and formulated chemical products for post-etch cleaning primarily for the manufacture of silicon and compound semiconductors, and thin film transistor liquid crystal displays.
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