Ingevity (NGVT) Set to Announce Earnings on Tuesday

Ingevity (NYSE:NGVT - Get Free Report) 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 that are interested in registering for the company's conference call can do so using this link.

Ingevity (NYSE:NGVT - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The company reported $1.01 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 for the quarter, compared to the consensus estimate of $407.58 million. During the same quarter last year, the firm posted $1.41 earnings per share. The firm's quarterly 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 Price Performance

Shares of NYSE NGVT traded down $1.49 during mid-day trading on Tuesday, reaching $32.31. 208,250 shares of the company traded hands, compared to its average volume of 254,599. Ingevity has a fifty-two week low of $30.90 and a fifty-two week high of $56.29. The firm has a market cap of $1.17 billion, a PE ratio of -10.39 and a beta of 1.62. The stock has a fifty day simple moving average of $36.85 and a 200-day simple moving average of $42.90. The company has a debt-to-equity ratio of 4.92, a current ratio of 1.92 and a quick ratio of 1.07.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. BMO Capital Markets decreased 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. Wells Fargo & Company lowered their price objective on shares of Ingevity from $45.00 to $40.00 and set an "equal weight" rating on the stock in a research note on Monday, August 5th. CJS Securities raised shares of 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. Finally, Oppenheimer reduced their target price on shares of Ingevity from $58.00 to $50.00 and set an "outperform" rating for the company in a report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $51.00.

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.