Equities analysts expect CMC Materials, Inc. (NASDAQ:CCMP) to report sales of $302.35 million for the current quarter, Zacks reports. Two analysts have issued estimates for CMC Materials’ earnings, with the highest sales estimate coming in at $304.00 million and the lowest estimate coming in at $300.70 million. CMC Materials reported sales of $284.19 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 6.4%. The company is scheduled to announce its next earnings results after the market closes on Wednesday, May 5th.
On average, analysts expect that CMC Materials will report full-year sales of $1.21 billion for the current financial year, with estimates ranging from $1.19 billion to $1.23 billion. For the next year, analysts expect that the company will report sales of $1.24 billion, with estimates ranging from $1.22 billion to $1.26 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for CMC Materials.
CMC Materials (NASDAQ:CCMP) last posted its quarterly earnings results on Tuesday, February 2nd. The semiconductor company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.19. CMC Materials had a net margin of 12.79% and a return on equity of 21.30%. The business had revenue of $287.86 million during the quarter, compared to the consensus estimate of $278.34 million. During the same period in the previous year, the firm posted $1.92 earnings per share. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis.
Several research firms recently commented on CCMP. Citigroup increased their price objective on CMC Materials from $140.00 to $150.00 in a research report on Monday, January 25th. Zacks Investment Research lowered shares of CMC Materials from a “buy” rating to a “hold” rating in a research report on Thursday, April 29th. Finally, The Goldman Sachs Group upgraded CMC Materials from a “sell” rating to a “neutral” rating and raised their price objective for the company from $143.00 to $164.00 in a research report on Monday, January 18th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $161.33.
NASDAQ CCMP traded down $7.04 during trading hours on Friday, reaching $174.89. 7,113 shares of the company’s stock traded hands, compared to its average volume of 182,762. The firm has a 50-day simple moving average of $182.98 and a 200 day simple moving average of $162.98. The firm has a market cap of $5.10 billion, a PE ratio of 37.67 and a beta of 1.17. CMC Materials has a 52-week low of $112.92 and a 52-week high of $198.60. The company has a debt-to-equity ratio of 0.85, a current ratio of 3.18 and a quick ratio of 2.30.
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 23rd. Shareholders of record on Tuesday, March 23rd were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.05%. This is a boost from CMC Materials’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Monday, March 22nd. CMC Materials’s dividend payout ratio (DPR) is presently 24.63%.
In other news, VP Bernstein H. Carol Eckstein sold 3,950 shares of the firm’s stock in a transaction dated Wednesday, March 10th. The stock was sold at an average price of $166.19, for a total value of $656,450.50. Following the transaction, the vice president now directly owns 47,304 shares in the company, valued at approximately $7,861,451.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO David H. Li sold 38,000 shares of CMC Materials stock in a transaction on Friday, March 5th. The shares were sold at an average price of $164.67, for a total transaction of $6,257,460.00. 2.40% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of CCMP. Envestnet Asset Management Inc. grew its stake in shares of CMC Materials by 4.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 85,496 shares of the semiconductor company’s stock worth $15,115,000 after purchasing an additional 3,434 shares during the last quarter. Victory Capital Management Inc. increased its position in CMC Materials by 2.0% in the 1st quarter. Victory Capital Management Inc. now owns 334,366 shares of the semiconductor company’s stock worth $59,113,000 after purchasing an additional 6,486 shares during the last quarter. State of Michigan Retirement System raised its position in CMC Materials by 1.9% during the first quarter. State of Michigan Retirement System now owns 10,762 shares of the semiconductor company’s stock valued at $1,903,000 after acquiring an additional 200 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in CMC Materials by 304.1% in the first quarter. Meeder Asset Management Inc. now owns 295 shares of the semiconductor company’s stock worth $52,000 after purchasing an additional 222 shares in the last quarter. Finally, Park Avenue Securities LLC increased its holdings in shares of CMC Materials by 15.0% during the 1st quarter. Park Avenue Securities LLC now owns 2,217 shares of the semiconductor company’s stock valued at $392,000 after acquiring an additional 290 shares during the last quarter. 87.16% of the stock is currently owned by hedge funds and other institutional investors.
About CMC Materials
CMC Materials, Inc, together with its subsidiaries, provides consumable materials to semiconductor manufacturers, and pipeline and adjacent industry customers in North America, Asia, Europe, the Middle East, Africa, and South America. The company operates through two segments, Electronic Materials and Performance Materials.
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