Q1 2024 Earnings Estimate for Balchem Co. (NASDAQ:BCPC) Issued By Sidoti Csr

Balchem Co. (NASDAQ:BCPC) – Equities researchers at Sidoti Csr decreased their Q1 2024 earnings estimates for Balchem in a research report issued to clients and investors on Wednesday, April 24th. Sidoti Csr analyst K. May now forecasts that the basic materials company will earn $0.98 per share for the quarter, down from their previous forecast of $1.00. The consensus estimate for Balchem’s current full-year earnings is $4.14 per share. Sidoti Csr also issued estimates for Balchem’s Q2 2024 earnings at $1.00 EPS, Q3 2024 earnings at $1.06 EPS, Q4 2024 earnings at $1.06 EPS, FY2024 earnings at $4.10 EPS, Q1 2025 earnings at $1.09 EPS, Q2 2025 earnings at $1.12 EPS, Q3 2025 earnings at $1.19 EPS, Q4 2025 earnings at $1.18 EPS and FY2025 earnings at $4.59 EPS.

Balchem (NASDAQ:BCPC) last issued its quarterly earnings results on Friday, February 16th. The basic materials company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.02. Balchem had a return on equity of 10.69% and a net margin of 11.77%. The firm had revenue of $228.70 million during the quarter, compared to the consensus estimate of $234.66 million. During the same period last year, the business posted $0.66 EPS. The business’s revenue was down 1.6% compared to the same quarter last year.

Separately, StockNews.com downgraded Balchem from a “buy” rating to a “hold” rating in a report on Thursday.

Balchem Stock Performance

Shares of Balchem stock opened at $138.50 on Friday. The company has a current ratio of 2.12, a quick ratio of 1.38 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average price of $152.40 and a two-hundred day moving average price of $139.85. Balchem has a 1-year low of $110.74 and a 1-year high of $159.52. The company has a market cap of $4.47 billion, a P/E ratio of 41.34, a PEG ratio of 4.25 and a beta of 0.71.

Insider Activity

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

Hedge Funds Weigh In On Balchem

Hedge funds have recently modified their holdings of the company. Signaturefd LLC lifted its position in shares of Balchem by 123.0% during the 4th quarter. Signaturefd LLC now owns 165 shares of the basic materials company’s stock worth $25,000 after buying an additional 91 shares in the last quarter. Principal Securities Inc. bought a new position in shares of Balchem during the 4th quarter worth approximately $28,000. Operose Advisors LLC bought a new position in shares of Balchem during the 3rd quarter worth approximately $31,000. GAMMA Investing LLC bought a new stake in shares of Balchem in the 4th quarter worth approximately $56,000. Finally, Allworth Financial LP raised its holdings in shares of Balchem by 17.8% in the 4th quarter. Allworth Financial LP now owns 953 shares of the basic materials company’s stock worth $142,000 after purchasing an additional 144 shares during the period. Institutional investors own 87.91% of the company’s stock.

Balchem Company Profile

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.