Ingevity (NGVT) Set to Announce Earnings on Tuesday

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

Ingevity (NYSE:NGVT) last released 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). The firm had revenue of $390.60 million for the quarter, compared to analyst estimates of $407.58 million. Ingevity had a positive return on equity of 19.59% and a negative net margin of 27.85%. Ingevity’s revenue was down 18.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.41 earnings per share. On average, analysts expect Ingevity to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Ingevity Price Performance

NYSE:NGVT opened at $33.65 on Monday. The business’s 50-day moving average price is $36.67 and its 200 day moving average price is $42.58. The firm has a market cap of $1.22 billion, a P/E ratio of -2.83 and a beta of 1.62. Ingevity has a 52-week low of $30.90 and a 52-week high of $56.29. The company has a quick ratio of 1.07, a current ratio of 1.92 and a debt-to-equity ratio of 4.92.

Analysts Set New Price Targets

Several analysts have issued reports on the company. CJS Securities upgraded Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 price objective on the stock in a report on Wednesday, August 7th. Oppenheimer cut their price objective on Ingevity from $58.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Wells Fargo & Company cut their price objective on Ingevity from $45.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Finally, BMO Capital Markets cut their price objective on Ingevity from $42.00 to $40.00 and set a “market perform” rating on the stock in a report on Monday, September 30th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.