Versum Materials Inc (VSM) Expected to Post Quarterly Sales of $337.45 Million

Brokerages expect Versum Materials Inc (NYSE:VSM) to post $337.45 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Versum Materials’ earnings. The highest sales estimate is $338.80 million and the lowest is $336.10 million. Versum Materials reported sales of $340.70 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 1%. The business is expected to report its next quarterly earnings report on Tuesday, May 14th.

On average, analysts expect that Versum Materials will report full year sales of $1.40 billion for the current year, with estimates ranging from $1.39 billion to $1.42 billion. For the next financial year, analysts anticipate that the company will post sales of $1.47 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Versum Materials.

Versum Materials (NYSE:VSM) last released its earnings results on Monday, February 4th. The basic materials company reported $0.55 EPS for the quarter, hitting analysts’ consensus estimates of $0.55. Versum Materials had a return on equity of 135.80% and a net margin of 17.37%. The company had revenue of $339.50 million for the quarter, compared to the consensus estimate of $339.69 million. During the same quarter last year, the business posted $0.54 EPS. Versum Materials’s quarterly revenue was up 2.6% compared to the same quarter last year.

A number of research firms have commented on VSM. Zacks Investment Research downgraded Versum Materials from a “hold” rating to a “sell” rating in a report on Saturday, January 26th. Goldman Sachs Group raised Versum Materials from a “sell” rating to a “neutral” rating and increased their target price for the stock from $26.00 to $31.00 in a report on Thursday, January 31st. KeyCorp increased their target price on Versum Materials from $44.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, February 28th. Loop Capital downgraded Versum Materials from a “buy” rating to a “hold” rating in a report on Thursday, February 28th. Finally, Credit Suisse Group downgraded Versum Materials from an “outperform” rating to a “neutral” rating in a report on Thursday, February 28th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $46.67.

NYSE:VSM traded up $0.31 during trading hours on Wednesday, reaching $50.31. 2,651,290 shares of the stock were exchanged, compared to its average volume of 1,849,334. The company has a quick ratio of 3.74, a current ratio of 4.82 and a debt-to-equity ratio of 3.65. Versum Materials has a 52 week low of $25.02 and a 52 week high of $50.47. The company has a market cap of $5.46 billion, a PE ratio of 21.41 and a beta of 2.12.

Several hedge funds and other institutional investors have recently made changes to their positions in VSM. SG Americas Securities LLC lifted its holdings in shares of Versum Materials by 68.6% in the 3rd quarter. SG Americas Securities LLC now owns 68,953 shares of the basic materials company’s stock worth $2,483,000 after purchasing an additional 28,045 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Versum Materials by 34.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 113,798 shares of the basic materials company’s stock worth $4,098,000 after purchasing an additional 29,096 shares during the last quarter. American International Group Inc. lifted its holdings in shares of Versum Materials by 1.0% in the 3rd quarter. American International Group Inc. now owns 222,124 shares of the basic materials company’s stock worth $7,999,000 after purchasing an additional 2,262 shares during the last quarter. FMR LLC lifted its holdings in shares of Versum Materials by 2.1% in the 3rd quarter. FMR LLC now owns 546,674 shares of the basic materials company’s stock worth $19,686,000 after purchasing an additional 11,097 shares during the last quarter. Finally, Schroder Investment Management Group raised its stake in Versum Materials by 72.5% during the 3rd quarter. Schroder Investment Management Group now owns 533,029 shares of the basic materials company’s stock valued at $19,195,000 after acquiring an additional 223,983 shares in the last quarter. 92.54% of the stock is currently owned by institutional investors and hedge funds.

About Versum Materials

Versum Materials, Inc develops, manufactures, transports, and handles specialty materials for the semiconductor and display industries in the United States, Taiwan, South Korea, China, Europe, and rest of Asia. The company operates through two segments, Materials, and Delivery Systems and Services (DS&S).

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Earnings History and Estimates for Versum Materials (NYSE:VSM)

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