Brokerages Anticipate CMC Materials, Inc. (NASDAQ:CCMP) to Post $1.94 EPS

Wall Street analysts expect that CMC Materials, Inc. (NASDAQ:CCMP) will report earnings per share (EPS) of $1.94 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for CMC Materials’ earnings, with the lowest EPS estimate coming in at $1.90 and the highest estimate coming in at $1.98. CMC Materials reported earnings per share of $1.75 in the same quarter last year, which suggests a positive year-over-year growth rate of 10.9%. The company is scheduled to announce its next earnings results after the market closes on Wednesday, May 5th.

According to Zacks, analysts expect that CMC Materials will report full year earnings of $8.01 per share for the current financial year, with EPS estimates ranging from $7.92 to $8.20. For the next financial year, analysts expect that the business will report earnings of $8.10 per share, with EPS estimates ranging from $7.97 to $8.20. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that cover CMC Materials.

CMC Materials (NASDAQ:CCMP) last issued its quarterly earnings data on Tuesday, February 2nd. The semiconductor company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.19. The company had revenue of $287.86 million for the quarter, compared to the consensus estimate of $278.34 million. CMC Materials had a return on equity of 21.30% and a net margin of 12.79%. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.92 earnings per share.

A number of equities research analysts recently commented on CCMP shares. The Goldman Sachs Group raised shares of CMC Materials from a “sell” rating to a “neutral” rating and increased their target price for the company from $143.00 to $164.00 in a research report on Monday, January 18th. Zacks Investment Research lowered CMC Materials from a “buy” rating to a “hold” rating in a report on Thursday, April 29th. Finally, Citigroup boosted their target price on CMC Materials from $140.00 to $150.00 in a research note on Monday, January 25th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. CMC Materials has an average rating of “Hold” and a consensus price target of $161.33.

In other CMC Materials news, VP Bernstein H. Carol Eckstein sold 3,950 shares of the firm’s stock in a transaction on Wednesday, March 10th. The stock was sold at an average price of $166.19, for a total transaction of $656,450.50. Following the completion of the sale, the vice president now owns 47,304 shares of the company’s stock, valued at $7,861,451.76. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO David H. Li sold 38,000 shares of the company’s stock in a transaction on Friday, March 5th. The shares were sold at an average price of $164.67, for a total value of $6,257,460.00. Insiders own 2.40% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of CCMP. Bahl & Gaynor Inc. raised its holdings in shares of CMC Materials by 18.2% in the 4th quarter. Bahl & Gaynor Inc. now owns 26,112 shares of the semiconductor company’s stock valued at $3,951,000 after buying an additional 4,017 shares during the period. Morgan Stanley lifted its stake in CMC Materials by 31.0% during the third quarter. Morgan Stanley now owns 30,778 shares of the semiconductor company’s stock worth $4,394,000 after purchasing an additional 7,291 shares during the last quarter. Brown Advisory Inc. acquired a new position in CMC Materials in the fourth quarter valued at approximately $132,376,000. Charles Schwab Investment Management Inc. increased its stake in CMC Materials by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 295,493 shares of the semiconductor company’s stock valued at $44,709,000 after purchasing an additional 7,346 shares during the last quarter. Finally, Riverbridge Partners LLC raised its holdings in CMC Materials by 19.9% during the fourth quarter. Riverbridge Partners LLC now owns 191,798 shares of the semiconductor company’s stock worth $29,019,000 after purchasing an additional 31,785 shares in the last quarter. Hedge funds and other institutional investors own 87.16% of the company’s stock.

Shares of NASDAQ:CCMP traded down $7.04 during trading on Thursday, reaching $174.89. The stock had a trading volume of 7,113 shares, compared to its average volume of 182,762. The firm’s 50-day simple moving average is $182.98 and its 200 day simple moving average is $162.98. The company has a current ratio of 3.18, a quick ratio of 2.30 and a debt-to-equity ratio of 0.85. CMC Materials has a one year low of $112.92 and a one year high of $198.60. The company has a market capitalization of $5.10 billion, a P/E ratio of 37.67 and a beta of 1.17.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 23rd. Investors of record on Tuesday, March 23rd were paid a $0.46 dividend. This is an increase from CMC Materials’s previous quarterly dividend of $0.44. This represents a $1.84 annualized dividend and a yield of 1.05%. The ex-dividend date was Monday, March 22nd. CMC Materials’s dividend payout ratio is currently 24.63%.

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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