U.S. Silica Holdings Inc (NYSE:SLCA) – Research analysts at Jefferies Financial Group lowered their FY2018 earnings per share estimates for shares of U.S. Silica in a note issued to investors on Tuesday, October 23rd. Jefferies Financial Group analyst S. Pant now expects that the mining company will earn $1.65 per share for the year, down from their previous estimate of $2.34. Jefferies Financial Group currently has a “Hold” rating and a $20.00 price objective on the stock. Jefferies Financial Group also issued estimates for U.S. Silica’s Q4 2018 earnings at $0.04 EPS, Q1 2019 earnings at $0.07 EPS, Q2 2019 earnings at $0.18 EPS, Q3 2019 earnings at $0.17 EPS, Q4 2019 earnings at $0.08 EPS, FY2019 earnings at $0.50 EPS and FY2020 earnings at $0.20 EPS.
Other research analysts have also issued research reports about the company. Johnson Rice lowered U.S. Silica from a “buy” rating to an “accumulate” rating and set a $30.00 price target on the stock. in a research note on Monday, August 20th. Seaport Global Securities reissued a “buy” rating and set a $46.00 price target on shares of U.S. Silica in a research note on Thursday, August 2nd. Stifel Nicolaus started coverage on U.S. Silica in a research note on Monday, September 10th. They set a “buy” rating and a $26.00 price target on the stock. B. Riley reduced their price target on U.S. Silica from $36.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, September 6th. Finally, Credit Suisse Group set a $29.00 price target on U.S. Silica and gave the stock a “buy” rating in a research note on Tuesday, August 28th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $26.05.
U.S. Silica (NYSE:SLCA) last issued its quarterly earnings results on Tuesday, October 23rd. The mining company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.15). U.S. Silica had a return on equity of 12.40% and a net margin of 8.05%. The business had revenue of $423.17 million for the quarter, compared to analysts’ expectations of $461.37 million. During the same period in the prior year, the company earned $0.53 EPS. The company’s revenue for the quarter was up 22.7% compared to the same quarter last year.
In other news, CEO Bryan Adair Shinn acquired 2,200 shares of the stock in a transaction on Thursday, September 27th. The shares were purchased at an average cost of $18.45 per share, for a total transaction of $40,590.00. Following the transaction, the chief executive officer now owns 126,243 shares in the company, valued at approximately $2,329,183.35. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Bradford B. Casper acquired 1,500 shares of the stock in a transaction on Friday, September 28th. The shares were purchased at an average price of $18.96 per share, for a total transaction of $28,440.00. Following the completion of the transaction, the executive vice president now owns 18,552 shares in the company, valued at approximately $351,745.92. The disclosure for this purchase can be found here. Insiders purchased a total of 9,614 shares of company stock worth $178,565 over the last ninety days. Corporate insiders own 1.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Macquarie Group Ltd. grew its holdings in shares of U.S. Silica by 14.8% during the 2nd quarter. Macquarie Group Ltd. now owns 933,066 shares of the mining company’s stock valued at $23,970,000 after acquiring an additional 120,296 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of U.S. Silica by 17.0% during the 1st quarter. Royal Bank of Canada now owns 99,414 shares of the mining company’s stock valued at $2,537,000 after acquiring an additional 14,476 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of U.S. Silica by 7.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 516,202 shares of the mining company’s stock valued at $13,262,000 after acquiring an additional 35,120 shares in the last quarter. Global Alpha Capital Management Ltd. grew its holdings in shares of U.S. Silica by 33.1% during the 2nd quarter. Global Alpha Capital Management Ltd. now owns 243,200 shares of the mining company’s stock valued at $6,248,000 after acquiring an additional 60,500 shares in the last quarter. Finally, Intrinsic Edge Capital Management LLC purchased a new position in shares of U.S. Silica during the 2nd quarter valued at $8,275,000.
About U.S. Silica
U.S. Silica Holdings, Inc produces and sells commercial silica in the United States. The company operates through two segments, Oil & Gas Proppants and Industrial & Specialty Products. It offers whole grain commercial silica products to be used as fracturing sand in connection with oil and natural gas recovery; and resin coated proppants, as well as sells its whole grain silica products in various size distributions, grain shapes, and chemical purity levels for manufacturing glass products.
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