Revenue Update on Versum Materials(NYSE:VSM)

Versum Materials(NYSE:VSM) announced the earnings results for Fiscal Year 2017 and Q1. The results came in during Pre-Market on Feb 13, 2017. Based on the corporate Earnings and Guidance, many Investment Banking firms balance their portfolio to Sell and Buy Stocks based on their strategy of investing in stocks.Company reported revenue of $270.800M. Analysts estimated a revenue of $251.440M. The revenues were 7.7% above the estimates. Earnings per share were $0.47. The reported EPS was above estimates by 14.63%. Analysts had estimated an EPS of $0.41.

In a different note, Goldman Sachs said it Initiates Coverage On Versum Materials, according to a research note issued on Feb 10, 2017. In the research note, the firm Announces the price-target to $32 per share. The shares have been rated ‘Neutral’ by the firm. Argus Research said it Initiates Coverage On Versum Materials, according to a research note issued on Feb 9, 2017. The shares have been rated ‘Hold’ by the firm.

Versum Materials (VSM) shares turned negative on Wednesdays trading session with the shares closing down -0.61 points or -1.97% at a volume of 3,19,511. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $31.13. The peak price level was also seen at $31.13 while the days lowest was $30.23. Finally the shares closed at $30.35. The 52-week high of the shares is $31.26 while the 52-week low is $21.86. According to the latest information available, the market cap of the company is $3,300 M.

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