KeyCorp Reiterates Equal Weight Rating for KMG Chemicals (KMG)

KMG Chemicals (NYSE:KMG)‘s stock had its “equal weight” rating restated by KeyCorp in a research note issued on Thursday. KeyCorp also issued estimates for KMG Chemicals’ Q4 2018 earnings at $0.88 EPS and FY2018 earnings at $3.85 EPS.

KMG has been the subject of several other reports. ValuEngine raised shares of KMG Chemicals from a “hold” rating to a “buy” rating in a research note on Tuesday. Zacks Investment Research cut shares of KMG Chemicals from a “buy” rating to a “hold” rating in a research note on Wednesday, February 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. KMG Chemicals presently has an average rating of “Hold” and a consensus target price of $77.33.

KMG stock traded down $0.49 during midday trading on Thursday, hitting $77.96. The stock had a trading volume of 178,000 shares, compared to its average volume of 133,703. The stock has a market capitalization of $1.08 billion, a P/E ratio of 34.34 and a beta of 0.38. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.89 and a current ratio of 2.95. KMG Chemicals has a 12-month low of $45.65 and a 12-month high of $79.35.

KMG Chemicals (NYSE:KMG) last released its earnings results on Monday, June 11th. The specialty chemicals company reported $1.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.26. The firm had revenue of $118.60 million during the quarter, compared to analysts’ expectations of $112.87 million. KMG Chemicals had a net margin of 11.87% and a return on equity of 17.47%. KMG Chemicals’s revenue for the quarter was up 45.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.53 EPS. research analysts forecast that KMG Chemicals will post 3.54 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in KMG. Schwab Charles Investment Management Inc. grew its stake in shares of KMG Chemicals by 46.5% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 52,101 shares of the specialty chemicals company’s stock valued at $3,443,000 after buying an additional 16,530 shares during the period. American Century Companies Inc. grew its stake in shares of KMG Chemicals by 151.2% during the 4th quarter. American Century Companies Inc. now owns 125,418 shares of the specialty chemicals company’s stock valued at $8,288,000 after buying an additional 75,499 shares during the period. Teacher Retirement System of Texas purchased a new stake in shares of KMG Chemicals during the 4th quarter valued at $290,000. Swiss National Bank grew its stake in shares of KMG Chemicals by 41.1% during the 4th quarter. Swiss National Bank now owns 22,300 shares of the specialty chemicals company’s stock valued at $1,474,000 after buying an additional 6,500 shares during the period. Finally, First Trust Advisors LP grew its stake in shares of KMG Chemicals by 68.0% during the 4th quarter. First Trust Advisors LP now owns 10,729 shares of the specialty chemicals company’s stock valued at $709,000 after buying an additional 4,342 shares during the period. 88.92% of the stock is owned by institutional investors.

KMG Chemicals Company Profile

KMG Chemicals, Inc, through its subsidiaries, manufactures, formulates, and distributes specialty chemicals and performance materials worldwide. The company's Electronic Chemicals segment is involved in the sale of high purity process chemicals primarily to etch and clean silicon wafers in the production of semiconductors, photovoltaics, and flat panel displays.

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