Koppers (NYSE:KOP) Posts Earnings Results, Beats Estimates By $0.12 EPS

Koppers (NYSE:KOP - Get Free Report) posted its earnings results on Friday. The specialty chemicals company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.12, Briefing.com reports. Koppers had a net margin of 3.72% and a return on equity of 17.16%. The company had revenue of $554.30 million for the quarter, compared to analyst estimates of $571.80 million. During the same period last year, the business posted $1.32 earnings per share. The business's revenue for the quarter was up .7% compared to the same quarter last year. Koppers updated its FY24 guidance to $4.25-4.45 EPS and its FY 2024 guidance to 4.250-4.450 EPS.

Koppers Stock Down 2.1 %

Shares of NYSE:KOP traded down $0.81 during mid-day trading on Friday, reaching $37.22. 179,178 shares of the stock were exchanged, compared to its average volume of 85,355. The stock's 50 day simple moving average is $36.44 and its 200-day simple moving average is $39.24. Koppers has a one year low of $33.80 and a one year high of $58.23. The company has a market cap of $763.75 million, a P/E ratio of 10.20 and a beta of 1.84. The company has a quick ratio of 1.12, a current ratio of 2.53 and a debt-to-equity ratio of 1.92.

Koppers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $0.07 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.75%. Koppers's dividend payout ratio (DPR) is 7.67%.

Analysts Set New Price Targets

KOP has been the topic of several recent analyst reports. Barrington Research reiterated an "outperform" rating and set a $64.00 target price on shares of Koppers in a report on Monday, November 4th. Singular Research upgraded Koppers to a "strong-buy" rating in a research report on Friday, September 20th.

Insider Buying and Selling at Koppers

In related news, VP Joseph P. Dowd sold 5,516 shares of the firm's stock in a transaction on Monday, August 19th. The shares were sold at an average price of $37.72, for a total value of $208,063.52. Following the completion of the transaction, the vice president now owns 10,300 shares of the company's stock, valued at approximately $388,516. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.55% of the company's stock.

Koppers Company Profile

Koppers Holdings Inc provides treated wood products, wood preservation chemicals, and carbon compounds in the United States, Australasia, Europe, and internationally. The company operates through Railroad and Utility Products and Services (RUPS), Performance Chemicals (PC), and Carbon Materials and Chemicals (CMC) segments.