Versum Materials (VSM) Posts Earnings Results, Beats Estimates By $0.03 EPS

Versum Materials (NYSE:VSM) announced its quarterly earnings results on Tuesday. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.03, Briefing.com reports. Versum Materials had a return on equity of 225.00% and a net margin of 14.39%. The business had revenue of $350.80 million for the quarter, compared to the consensus estimate of $329.43 million. During the same period last year, the business posted $0.47 EPS. The business’s revenue was up 19.1% compared to the same quarter last year. Versum Materials updated its FY 2019 guidance to EPS.

Shares of Versum Materials stock traded up $0.28 during trading on Thursday, reaching $35.76. The company’s stock had a trading volume of 157,995 shares, compared to its average volume of 536,916. The company has a debt-to-equity ratio of 6.20, a current ratio of 4.43 and a quick ratio of 3.39. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 1.00 and a beta of 1.06. Versum Materials has a 1-year low of $28.96 and a 1-year high of $42.74.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 27th. Stockholders of record on Tuesday, November 13th will be given a $0.08 dividend. This is a boost from Versum Materials’s previous quarterly dividend of $0.06. The ex-dividend date is Friday, November 9th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.89%. Versum Materials’s dividend payout ratio (DPR) is presently 10.21%.

VSM has been the topic of a number of analyst reports. Zacks Investment Research downgraded Versum Materials from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. Credit Suisse Group lifted their price target on Versum Materials from $46.00 to $47.00 and gave the company an “outperform” rating in a report on Wednesday, August 8th. KeyCorp lifted their price target on Versum Materials from $46.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, September 7th. Finally, ValuEngine downgraded Versum Materials from a “hold” rating to a “sell” rating in a report on Thursday, October 11th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $46.14.

In other Versum Materials news, Director Susan C. Schnabel acquired 2,500 shares of the stock in a transaction dated Monday, August 13th. The stock was purchased at an average price of $37.49 per share, with a total value of $93,725.00. Following the transaction, the director now directly owns 16,859 shares of the company’s stock, valued at $632,043.91. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.49% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the company. People s United Financial Inc. acquired a new stake in Versum Materials during the 2nd quarter worth about $16,111,000. SeaCrest Wealth Management LLC lifted its position in Versum Materials by 615.4% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 4,471 shares of the basic materials company’s stock worth $166,000 after acquiring an additional 3,846 shares during the period. Oakbrook Investments LLC acquired a new stake in Versum Materials during the 2nd quarter worth about $212,000. Associated Banc Corp lifted its position in Versum Materials by 18.1% during the 2nd quarter. Associated Banc Corp now owns 9,218 shares of the basic materials company’s stock worth $343,000 after acquiring an additional 1,414 shares during the period. Finally, NumerixS Investment Technologies Inc lifted its position in Versum Materials by 115.0% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 10,000 shares of the basic materials company’s stock worth $371,000 after acquiring an additional 5,348 shares during the period. 92.18% of the stock is owned by hedge funds and other institutional investors.

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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. It operates in two segments, Materials, and Delivery Systems and Services (DS&S). The Materials segment provides specialty chemicals and materials used in semiconductors, as well as specialty gases used in the semiconductor manufacturing process, including high purity process materials for deposition, metallization, and chamber cleaning and etching; chemicals mechanical planarization slurries; organosilanes; organometallics and liquid dopants for thin film deposition; and formulated chemical products for post-etch cleaning primarily for the manufacture of silicon and compound semiconductors, and thin film transistor liquid crystal displays.

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Earnings History for Versum Materials (NYSE:VSM)

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