GCP Applied Technologies Inc. (GCP) Updates FY17 Earnings Guidance

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 $0.78. GCP Applied Technologies also updated its Q3 guidance to $0.17-0.21 EPS.

Shares of GCP Applied Technologies Inc. (NYSE GCP) traded down 0.31% during midday trading on Thursday, reaching $31.75. 383,569 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $30.92 and a 200-day moving average price of $30.92. The stock has a market cap of $2.27 billion, a P/E ratio of 721.59 and a beta of 0.97. GCP Applied Technologies Inc. has a 52-week low of $25.10 and a 52-week high of $34.22.

GCP Applied Technologies (NYSE:GCP) last issued its quarterly earnings results 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). The firm had revenue of $287.20 million during the quarter, compared to analyst estimates of $309.70 million. GCP Applied Technologies had a negative return on equity of 44.32% and a net margin of 0.26%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. Analysts forecast that GCP Applied Technologies Inc. will post $0.78 earnings per share for the current year.

Several analysts have recently weighed in on GCP shares. KeyCorp upgraded shares of GCP Applied Technologies from a sector weight rating to an overweight rating and set a $36.00 price objective for the company in a research note on Thursday, June 22nd. Zacks Investment Research upgraded shares of GCP Applied Technologies from a strong sell rating to a hold rating in a research note on Wednesday, July 12th. Five investment analysts have rated the stock with a buy rating, The company currently has an average rating of Buy and a consensus target price of $35.40.

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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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