Brokerages expect Ingevity Corp (NYSE:NGVT) to report earnings per share (EPS) of $0.73 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Ingevity’s earnings. The lowest EPS estimate is $0.65 and the highest is $0.87. Ingevity reported earnings per share of $0.49 in the same quarter last year, which indicates a positive year-over-year growth rate of 49%. The business is scheduled to report its next quarterly earnings results on Wednesday, May 2nd.
On average, analysts expect that Ingevity will report full-year earnings of $3.59 per share for the current financial year, with EPS estimates ranging from $3.40 to $3.93. For the next fiscal year, analysts expect that the company will report earnings of $4.23 per share, with EPS estimates ranging from $4.00 to $4.64. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Ingevity.
Ingevity (NYSE:NGVT) last announced its earnings results on Tuesday, February 20th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.36 by $0.09. The firm had revenue of $229.50 million for the quarter, compared to the consensus estimate of $214.94 million. Ingevity had a net margin of 12.99% and a return on equity of 50.74%. The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the company posted $0.34 EPS.
Several analysts have commented on NGVT shares. Loop Capital dropped their target price on shares of Ingevity from $83.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, December 26th. Zacks Investment Research downgraded shares of Ingevity from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Rowe reiterated an “outperform” rating and issued a $90.00 price objective (up from $80.00) on shares of Ingevity in a report on Thursday, November 30th. KeyCorp reiterated an “overweight” rating and issued a $89.00 price objective (up from $78.00) on shares of Ingevity in a report on Friday, February 23rd. Finally, SunTrust Banks reiterated a “buy” rating and issued a $90.00 price objective on shares of Ingevity in a report on Friday, February 23rd. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $84.14.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Ingevity by 50.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,420 shares of the company’s stock valued at $171,000 after purchasing an additional 807 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Ingevity in the second quarter valued at $203,000. Jane Street Group LLC bought a new position in shares of Ingevity in the fourth quarter valued at $206,000. Teacher Retirement System of Texas bought a new position in shares of Ingevity in the third quarter valued at $218,000. Finally, Greenwood Capital Associates LLC bought a new position in shares of Ingevity in the fourth quarter valued at $223,000. Institutional investors own 88.86% of the company’s stock.
Shares of Ingevity (NYSE:NGVT) traded down $0.43 during mid-day trading on Friday, reaching $77.93. 90,744 shares of the company’s stock traded hands, compared to its average volume of 233,221. The company has a quick ratio of 1.36, a current ratio of 2.41 and a debt-to-equity ratio of 1.60. The firm has a market cap of $3,226.75, a P/E ratio of 29.73, a P/E/G ratio of 1.84 and a beta of 0.93. Ingevity has a 52-week low of $53.62 and a 52-week high of $82.10.
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Ingevity Corporation is a manufacturer of specialty chemicals and high performance carbon materials. The Company is also a manufacturer of activated carbon used in gasoline vapor emission control systems in cars, trucks, motorcycles and boats. The Company operates through two segments: Performance Materials and Performance Chemicals.
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