$1.99 Earnings Per Share Expected for CMC Materials, Inc. (NASDAQ:CCMP) This Quarter

Equities analysts expect that CMC Materials, Inc. (NASDAQ:CCMP) will post earnings per share (EPS) of $1.99 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for CMC Materials’ earnings, with the lowest EPS estimate coming in at $1.98 and the highest estimate coming in at $2.00. CMC Materials posted earnings per share of $1.80 in the same quarter last year, which suggests a positive year over year growth rate of 10.6%. The company is scheduled to issue its next earnings results after the market closes on Wednesday, August 4th.

On average, analysts expect that CMC Materials will report full year earnings of $7.83 per share for the current year, with EPS estimates ranging from $7.67 to $7.92. For the next year, analysts expect that the firm will report earnings of $8.07 per share, with EPS estimates ranging from $7.97 to $8.15. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow CMC Materials.

CMC Materials (NASDAQ:CCMP) last posted its earnings results on Wednesday, May 5th. The semiconductor company reported $1.71 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.94 by ($0.23). The business had revenue of $290.53 million during the quarter, compared to the consensus estimate of $298.59 million. CMC Materials had a positive return on equity of 20.99% and a negative net margin of 4.16%. The business’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.75 earnings per share.

Several research firms recently issued reports on CCMP. Berenberg Bank raised shares of CMC Materials from a “hold” rating to a “buy” rating and upped their price objective for the stock from $175.00 to $180.00 in a report on Wednesday, June 9th. Zacks Investment Research downgraded shares of CMC Materials from a “buy” rating to a “hold” rating in a report on Thursday, April 29th. Wolfe Research began coverage on shares of CMC Materials in a report on Wednesday, June 9th. They set an “underperform” rating and a $152.00 price objective for the company. The Goldman Sachs Group decreased their price objective on shares of CMC Materials from $198.00 to $169.00 and set a “neutral” rating for the company in a report on Friday, May 7th. Finally, Seaport Res Ptn raised shares of CMC Materials from a “neutral” rating to a “buy” rating in a report on Tuesday, June 8th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $165.40.

Shares of NASDAQ CCMP traded down $2.83 during trading hours on Thursday, hitting $140.03. 4,104 shares of the stock were exchanged, compared to its average volume of 217,229. The company has a quick ratio of 2.67, a current ratio of 3.54 and a debt-to-equity ratio of 0.95. The business’s 50 day moving average is $149.59. The stock has a market cap of $4.10 billion, a price-to-earnings ratio of 18.93 and a beta of 1.16. CMC Materials has a one year low of $133.01 and a one year high of $198.60.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 30th. Stockholders of record on Wednesday, June 23rd will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Tuesday, June 22nd. CMC Materials’s dividend payout ratio is 24.63%.

Hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp acquired a new position in shares of CMC Materials in the 1st quarter valued at $25,000. GPS Wealth Strategies Group LLC acquired a new position in shares of CMC Materials in the 1st quarter valued at $26,000. WASHINGTON TRUST Co acquired a new stake in shares of CMC Materials during the 1st quarter worth about $27,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of CMC Materials during the 1st quarter worth about $30,000. Finally, Vantage Consulting Group Inc acquired a new stake in shares of CMC Materials during the 4th quarter worth about $28,000. Institutional investors own 95.21% of the company’s stock.

CMC Materials Company Profile

CMC Materials, Inc engages in the development, manufacture, and sale of chemical mechanical planarization consumables products. It operates through the following segments: Electronic Materials and Performance Material. The Electronic Materials segment consists of CMP slurries and polishing pads businesses and KMG electronic chemicals business.

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Earnings History and Estimates for CMC Materials (NASDAQ:CCMP)

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