Q3 2024 Earnings Estimate for Balchem Co. Issued By Sidoti Csr (NASDAQ:BCPC)

Balchem Co. (NASDAQ:BCPC) – Equities researchers at Sidoti Csr lowered their Q3 2024 earnings estimates for Balchem in a report issued on Monday, May 6th. Sidoti Csr analyst K. May now forecasts that the basic materials company will post earnings per share of $1.04 for the quarter, down from their prior forecast of $1.06. The consensus estimate for Balchem’s current full-year earnings is $4.10 per share. Sidoti Csr also issued estimates for Balchem’s Q4 2024 earnings at $0.95 EPS, FY2024 earnings at $4.00 EPS, Q1 2025 earnings at $1.03 EPS, Q2 2025 earnings at $0.99 EPS, Q3 2025 earnings at $1.05 EPS and Q4 2025 earnings at $1.05 EPS.

Balchem (NASDAQ:BCPC) last announced its quarterly earnings data on Friday, February 16th. The basic materials company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.02. The business had revenue of $228.70 million during the quarter, compared to analyst estimates of $234.66 million. Balchem had a return on equity of 11.03% and a net margin of 12.35%. The company’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.66 earnings per share.

A number of other brokerages have also recently weighed in on BCPC. StockNews.com lowered shares of Balchem from a “buy” rating to a “hold” rating in a research report on Thursday, April 25th. HC Wainwright raised their price objective on Balchem from $167.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday.

Balchem Price Performance

Shares of NASDAQ BCPC opened at $155.02 on Wednesday. Balchem has a twelve month low of $110.74 and a twelve month high of $159.52. The company has a current ratio of 2.61, a quick ratio of 1.72 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average of $150.94 and a two-hundred day moving average of $141.39. The company has a market capitalization of $5.03 billion, a price-to-earnings ratio of 43.79, a PEG ratio of 3.33 and a beta of 0.72.

Hedge Funds Weigh In On Balchem

Several institutional investors and hedge funds have recently modified their holdings of the stock. Commonwealth Equity Services LLC grew its stake in Balchem by 0.7% in the third quarter. Commonwealth Equity Services LLC now owns 14,532 shares of the basic materials company’s stock valued at $1,803,000 after purchasing an additional 104 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Balchem by 5.1% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 7,935 shares of the basic materials company’s stock valued at $984,000 after buying an additional 386 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Balchem by 6.3% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 25,684 shares of the basic materials company’s stock valued at $3,186,000 after buying an additional 1,515 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Balchem by 16.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,661 shares of the basic materials company’s stock worth $826,000 after buying an additional 931 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Balchem by 1.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,244 shares of the basic materials company’s stock valued at $1,767,000 after acquiring an additional 180 shares in the last quarter. 87.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Balchem

In other news, CAO William A. Backus sold 15,000 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $154.73, for a total value of $2,320,950.00. Following the completion of the sale, the chief accounting officer now owns 12,914 shares of the company’s stock, valued at $1,998,183.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CAO William A. Backus sold 15,000 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $154.73, for a total value of $2,320,950.00. Following the transaction, the chief accounting officer now owns 12,914 shares in the company, valued at approximately $1,998,183.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael Robert Sestrick sold 11,100 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $153.21, for a total transaction of $1,700,631.00. Following the sale, the senior vice president now owns 6,736 shares of the company’s stock, valued at $1,032,022.56. The disclosure for this sale can be found here. Insiders have sold a total of 76,630 shares of company stock valued at $11,843,249 in the last three months. 1.77% of the stock is currently owned by company insiders.

About Balchem

Balchem Corporation develops, manufactures, and markets specialty performance ingredients and products for the nutritional, food, pharmaceutical, animal health, medical device sterilization, plant nutrition, and industrial markets worldwide. It operates through three segments: Human Nutrition and Health, Animal Nutrition and Health, and Specialty Products.