Ingevity (NGVT) Set to Announce 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 interested in participating in the company’s conference call can do so using this link.

Ingevity (NYSE:NGVT) last posted its earnings results on Wednesday, February 21st. The company reported $0.21 EPS for the quarter, topping the consensus estimate of ($0.13) by $0.34. The business had revenue of $371.70 million during the quarter, compared to the consensus estimate of $336.74 million. Ingevity had a positive return on equity of 20.75% and a negative net margin of 0.32%. Ingevity’s revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the company earned $0.57 EPS. 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

Ingevity stock opened at $50.93 on Tuesday. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.96 and a current ratio of 1.81. Ingevity has a one year low of $36.66 and a one year high of $72.76. The business has a 50 day simple moving average of $46.50 and a 200 day simple moving average of $43.87.

Wall Street Analyst Weigh In

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