Ingevity (NGVT) to Release Quarterly Earnings on Wednesday

Ingevity (NYSE:NGVT) will be announcing its earnings results after the market closes on Wednesday, May 1st. Analysts expect the company to announce earnings of $0.06 per share for the quarter. Ingevity has set its FY 2024 guidance at EPS.Investors that wish to register for the company’s conference call can do so using this link.

Ingevity (NYSE:NGVT) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.34. The firm had revenue of $371.70 million during the quarter, compared to analysts’ expectations of $336.74 million. Ingevity had a negative net margin of 0.32% and a positive return on equity of 20.75%. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.57 earnings per share. On average, analysts expect Ingevity to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Ingevity Stock Performance

Shares of NGVT stock opened at $48.51 on Monday. The stock has a market cap of $1.76 billion, a P/E ratio of -220.50 and a beta of 1.85. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.81 and a quick ratio of 0.96. The company has a fifty day moving average price of $46.44 and a two-hundred day moving average price of $43.80. Ingevity has a one year low of $36.66 and a one year high of $72.76.

Wall Street Analyst Weigh In

A number of analysts have commented on NGVT shares. Jefferies Financial Group upgraded shares of Ingevity from a “hold” rating to a “buy” rating and increased their price target for the company from $52.00 to $62.00 in a research note on Monday, April 22nd. Wells Fargo & Company increased their price objective on shares of Ingevity from $43.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday, February 23rd. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Ingevity has a consensus rating of “Hold” and a consensus target price of $51.40.

Ingevity Company Profile

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.