Brokers Offer Predictions for RPM International Inc.’s Q2 2023 Earnings (NYSE:RPM)
RPM International Inc. (NYSE:RPM – Get Rating) – Analysts at KeyCorp issued their Q2 2023 earnings per share (EPS) estimates for shares of RPM International in a report released on Wednesday, December 14th. KeyCorp analyst A. Yefremov anticipates that the specialty chemicals company will post earnings per share of $1.11 for the quarter. KeyCorp currently has a “Sector Weight” rating on the stock. The consensus estimate for RPM International’s current full-year earnings is $4.60 per share. KeyCorp also issued estimates for RPM International’s Q3 2023 earnings at $0.42 EPS, Q4 2023 earnings at $1.50 EPS, FY2023 earnings at $4.51 EPS and FY2024 earnings at $4.78 EPS.
RPM International (NYSE:RPM – Get Rating) last released its quarterly earnings results on Wednesday, October 5th. The specialty chemicals company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.16. RPM International had a return on equity of 27.48% and a net margin of 7.53%. The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter last year, the firm posted $1.08 EPS. The company’s revenue was up 17.1% compared to the same quarter last year.
Several other research firms have also recently weighed in on RPM. Royal Bank of Canada raised their price target on RPM International from $85.00 to $97.00 and gave the company a “sector perform” rating in a report on Thursday, October 6th. UBS Group cut RPM International from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $105.00 to $101.00 in a report on Tuesday, October 18th. They noted that the move was a valuation call. Evercore ISI raised their price objective on RPM International to $105.00 in a report on Thursday, October 13th. Wells Fargo & Company raised their price objective on RPM International from $90.00 to $100.00 and gave the company an “equal weight” rating in a report on Monday, October 10th. Finally, BMO Capital Markets raised their price objective on RPM International from $109.00 to $115.00 and gave the company an “outperform” rating in a report on Thursday, October 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $98.88.
RPM International Stock Performance
NYSE:RPM opened at $101.66 on Thursday. The business’s 50-day moving average price is $97.10 and its two-hundred day moving average price is $90.52. RPM International has a twelve month low of $74.56 and a twelve month high of $106.50. The stock has a market cap of $13.12 billion, a P/E ratio of 25.04, a PEG ratio of 1.79 and a beta of 0.99. The company has a quick ratio of 1.18, a current ratio of 1.99 and a debt-to-equity ratio of 1.27.
RPM International Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, October 31st. Shareholders of record on Monday, October 17th were paid a $0.42 dividend. This is a boost from RPM International’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend was Friday, October 14th. RPM International’s payout ratio is 41.38%.
Insiders Place Their Bets
In other RPM International news, CEO Frank C. Sullivan sold 65,000 shares of RPM International stock in a transaction that occurred on Thursday, October 13th. The stock was sold at an average price of $92.60, for a total value of $6,019,000.00. Following the transaction, the chief executive officer now directly owns 1,050,706 shares of the company’s stock, valued at approximately $97,295,375.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other RPM International news, CEO Frank C. Sullivan sold 65,000 shares of RPM International stock in a transaction that occurred on Thursday, October 13th. The stock was sold at an average price of $92.60, for a total value of $6,019,000.00. Following the transaction, the chief executive officer now directly owns 1,050,706 shares of the company’s stock, valued at approximately $97,295,375.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederick R. Nance sold 477 shares of RPM International stock in a transaction that occurred on Thursday, October 13th. The stock was sold at an average price of $89.98, for a total value of $42,920.46. Following the completion of the transaction, the director now directly owns 10,472 shares in the company, valued at $942,270.56. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.
Institutional Investors Weigh In On RPM International
Large investors have recently made changes to their positions in the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of RPM International in the 2nd quarter worth approximately $47,000. Eagle Bay Advisors LLC grew its position in shares of RPM International by 2,340.0% in the 2nd quarter. Eagle Bay Advisors LLC now owns 732 shares of the specialty chemicals company’s stock worth $58,000 after buying an additional 702 shares during the last quarter. Advanced Research Investment Solutions LLC bought a new stake in shares of RPM International in the 3rd quarter worth approximately $83,000. Archer Investment Corp grew its position in shares of RPM International by 113.0% in the 1st quarter. Archer Investment Corp now owns 1,225 shares of the specialty chemicals company’s stock worth $100,000 after buying an additional 650 shares during the last quarter. Finally, Ancora Advisors LLC grew its position in shares of RPM International by 11.5% in the 1st quarter. Ancora Advisors LLC now owns 1,450 shares of the specialty chemicals company’s stock worth $133,000 after buying an additional 150 shares during the last quarter. 81.69% of the stock is currently owned by institutional investors.
About RPM International
RPM International Inc manufactures, markets, and sells specialty chemicals for the industrial, specialty, and consumer markets worldwide. It offers waterproofing, coating, and institutional roofing systems; sealants, air barriers, tapes, and foams; residential home weatherization systems; roofing and building maintenance services; sealing and bonding, subfloor preparation, flooring, and glazing solutions; resin flooring systems, polyurethane, MMA waterproof, epoxy floor paint and coatings, concrete repair, and protection products; solutions for fire stopping and intumescent steel coating, and manufacturing industry; rolled asphalt roofing materials and chemical admixtures; concrete and masonry admixtures, concrete fibers, curing and sealing compounds, structural grouts and mortars, epoxy adhesives, injection resins, polyurethane foams, floor hardeners and toppings, joint fillers, industrial and architectural coatings, decorative color/stains/stamps, and restoration materials; insulated building cladding materials; and concrete form wall systems.
Further Reading
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