GCP Applied Technologies Inc. (GCP) Announces Quarterly Earnings Results, Beats Estimates By $0.03 EPS

GCP Applied Technologies Inc. (NYSE:GCP) issued its quarterly earnings data on Thursday. The construction company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.03, Bloomberg Earnings reports. The firm had revenue of $282.40 million during the quarter, compared to analysts’ expectations of $279.05 million. GCP Applied Technologies had a negative return on equity of 36.75% and a net margin of 56.84%. GCP Applied Technologies’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.21 earnings per share. GCP Applied Technologies updated its FY17 guidance to $0.60-0.65 EPS.

GCP Applied Technologies (NYSE:GCP) traded up $0.90 during midday trading on Friday, hitting $29.55. The stock had a trading volume of 488,511 shares, compared to its average volume of 515,078. The company has a debt-to-equity ratio of -5.83, a quick ratio of 1.16 and a current ratio of 1.39. The firm has a market capitalization of $2,120.00 and a PE ratio of 42.13. GCP Applied Technologies has a 12 month low of $25.25 and a 12 month high of $34.22.

Several equities analysts recently issued reports on the company. Zacks Investment Research raised GCP Applied Technologies from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a report on Wednesday, October 4th. KeyCorp reaffirmed a “buy” rating and set a $34.00 price objective on shares of GCP Applied Technologies in a report on Friday. Finally, Cowen and Company assumed coverage on GCP Applied Technologies in a report on Monday, October 30th. They set a “market perform” rating and a $31.00 price objective for the company. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $34.33.

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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 for GCP Applied Technologies (NYSE:GCP)

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