Aceto Corporation (ACET) Updates FY18 Earnings Guidance

Aceto Corporation (NASDAQ:ACET) issued an update on its FY18 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.05-1.15 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.28. The company issued revenue guidance of $734.07-765.98 million (+15-20%), compared to the consensus revenue estimate of $778.29 million.

Aceto Corporation (NASDAQ ACET) traded up $0.14 during midday trading on Friday, hitting $9.88. 1,546,011 shares of the stock were exchanged, compared to its average volume of 318,138. The company has a quick ratio of 1.52, a current ratio of 2.13 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $282.82 million, a P/E ratio of 7.82, a P/E/G ratio of 0.71 and a beta of 1.38.

Aceto Corporation (NASDAQ:ACET) last released its quarterly earnings data on Thursday, November 2nd. The company reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.02. Aceto Corporation had a net margin of 1.78% and a return on equity of 10.21%. The firm had revenue of $185.26 million for the quarter, compared to the consensus estimate of $190.58 million. During the same period last year, the firm earned $0.28 earnings per share. The company’s quarterly revenue was up 44.7% on a year-over-year basis. analysts anticipate that Aceto Corporation will post 1.31 earnings per share for the current year.

Several equities research analysts have weighed in on ACET shares. Zacks Investment Research upgraded shares of Aceto Corporation from a sell rating to a hold rating in a research note on Tuesday, July 11th. BidaskClub downgraded shares of Aceto Corporation from a buy rating to a hold rating in a research note on Wednesday, July 12th. Canaccord Genuity started coverage on shares of Aceto Corporation in a research note on Monday, July 31st. They issued a buy rating and a $19.00 target price for the company. Finally, ValuEngine upgraded shares of Aceto Corporation from a hold rating to a buy rating in a research note on Wednesday, September 13th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $18.00.

In other Aceto Corporation news, COO Walter J. Kaczmarek III sold 2,635 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $10.57, for a total value of $27,851.95. Following the completion of the transaction, the chief operating officer now owns 72,817 shares of the company’s stock, valued at $769,675.69. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Albert L. Eilender sold 9,530 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $10.47, for a total transaction of $99,779.10. Following the completion of the transaction, the chairman now directly owns 307,028 shares of the company’s stock, valued at approximately $3,214,583.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,283 shares of company stock valued at $275,189. 4.10% of the stock is owned by insiders.

ILLEGAL ACTIVITY NOTICE: This piece was published by Community Financial News and is owned by of Community Financial News. If you are viewing this piece on another site, it was stolen and republished in violation of US & international copyright and trademark law. The original version of this piece can be read at https://www.com-unik.info/2017/11/04/aceto-corporation-acet-updates-fy18-earnings-guidance.html.

About Aceto Corporation

Aceto Corporation (Aceto) is engaged in the marketing, sales and distribution of finished dosage form generic pharmaceuticals, nutraceutical products, pharmaceutical active ingredients and intermediates, specialty performance chemicals inclusive of agricultural intermediates and agricultural protection products.

Earnings History and Estimates for Aceto Corporation (NASDAQ:ACET)

What are top analysts saying about Aceto Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Aceto Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit