Ingevity (NGVT) to Release Quarterly Earnings on Tuesday

Ingevity (NYSE:NGVT) is set to issue its quarterly earnings data after the market closes on Tuesday, October 29th. Analysts expect the company to announce earnings of $0.60 per share for the quarter. Ingevity has set its FY 2024 guidance at EPS.Parties interested in participating in the company’s conference call can do so using this link.

Ingevity (NYSE:NGVT) last issued its earnings results on Wednesday, July 31st. The company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). Ingevity had a positive return on equity of 19.59% and a negative net margin of 27.85%. The company had revenue of $390.60 million during the quarter, compared to analyst estimates of $407.58 million. During the same period last year, the business earned $1.41 earnings per share. The firm’s revenue was down 18.9% compared to the same quarter last year. On average, analysts expect Ingevity to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Ingevity Stock Down 2.8 %

Shares of NGVT opened at $33.80 on Tuesday. Ingevity has a 52-week low of $30.90 and a 52-week high of $56.29. The company has a market capitalization of $1.23 billion, a PE ratio of -10.87 and a beta of 1.62. The stock has a fifty day simple moving average of $36.91 and a two-hundred day simple moving average of $43.00. The company has a quick ratio of 1.07, a current ratio of 1.92 and a debt-to-equity ratio of 4.92.

Wall Street Analyst Weigh In

A number of analysts have issued reports on NGVT shares. CJS Securities raised Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 target price for the company in a research note on Wednesday, August 7th. BMO Capital Markets cut their target price on Ingevity from $42.00 to $40.00 and set a “market perform” rating for the company in a research note on Monday, September 30th. Oppenheimer cut their price objective on Ingevity from $58.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. Finally, Wells Fargo & Company cut their price objective on Ingevity from $45.00 to $40.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Ingevity has a consensus rating of “Moderate Buy” and an average target price of $51.00.

About Ingevity

Ingevity Corporation manufactures and sells activated carbon products, derivative specialty chemicals, and engineered polymers in North America, the Asia Pacific, Europe, the Middle East, Africa, and South America. It operates through three segments: Performance Materials, Performance Chemicals, and Advanced Polymer Technologies.