Ecovyst (NYSE:ECVT) Updates FY 2024 Earnings Guidance

Ecovyst (NYSE:ECVT - Get Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.450-0.630 for the period, compared to the consensus estimate of 0.560. The company issued revenue guidance of $700.0 million-$740.0 million, compared to the consensus revenue estimate of $718.8 million.

Ecovyst Price Performance

ECVT traded up $0.29 on Thursday, reaching $6.66. The company had a trading volume of 2,391,439 shares, compared to its average volume of 863,599. The company has a fifty day moving average of $6.63 and a 200-day moving average of $8.15. The company has a market capitalization of $775.08 million, a P/E ratio of 13.86, a PEG ratio of 1.09 and a beta of 1.01. The company has a current ratio of 2.72, a quick ratio of 2.18 and a debt-to-equity ratio of 1.19. Ecovyst has a one year low of $6.02 and a one year high of $11.35.

Ecovyst (NYSE:ECVT - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). Ecovyst had a net margin of 8.14% and a return on equity of 7.88%. The business had revenue of $182.80 million for the quarter, compared to the consensus estimate of $189.79 million. During the same quarter last year, the business posted $0.26 EPS. The business's revenue for the quarter was down .7% on a year-over-year basis. As a group, equities research analysts anticipate that Ecovyst will post 0.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ECVT shares. BWS Financial reduced their price objective on shares of Ecovyst from $18.00 to $12.00 and set a "buy" rating for the company in a research report on Monday, August 5th. Citigroup reduced their price objective on shares of Ecovyst from $13.00 to $11.00 and set a "buy" rating for the company in a research report on Friday, July 12th. Finally, KeyCorp reduced their price objective on shares of Ecovyst from $13.00 to $10.00 and set an "overweight" rating for the company in a research report on Monday, August 5th.

Insiders Place Their Bets

In other news, insider Joseph S. Koscinski bought 4,807 shares of the firm's stock in a transaction on Monday, August 5th. The stock was bought at an average cost of $6.26 per share, for a total transaction of $30,091.82. Following the completion of the acquisition, the insider now directly owns 544,609 shares in the company, valued at $3,409,252.34. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Joseph S. Koscinski purchased 4,807 shares of Ecovyst stock in a transaction dated Monday, August 5th. The stock was acquired at an average cost of $6.26 per share, with a total value of $30,091.82. Following the completion of the transaction, the insider now directly owns 544,609 shares of the company's stock, valued at $3,409,252.34. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul Whittleston purchased 7,800 shares of Ecovyst stock in a transaction dated Wednesday, August 7th. The stock was bought at an average cost of $6.50 per share, with a total value of $50,700.00. Following the completion of the transaction, the insider now directly owns 57,542 shares of the company's stock, valued at $374,023. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.59% of the company's stock.

Ecovyst Company Profile

Ecovyst Inc offers specialty catalysts and services in the United States and internationally. The company operates in two segments, Ecoservices and Advanced Materials & Catalysts. The Ecoservices segment provides sulfuric acid recycling services and end-to-end logistics for production of alkylate for refineries; and virgin sulfuric acid for mining, water treatment, and industrial applications.