FY2024 EPS Estimates for Stepan Increased by Seaport Res Ptn

Stepan (NYSE:SCL) – Analysts at Seaport Res Ptn lifted their FY2024 earnings estimates for shares of Stepan in a research report issued to clients and investors on Monday, November 11th. Seaport Res Ptn analyst M. Harrison now anticipates that the basic materials company will post earnings of $2.60 per share for the year, up from their previous estimate of $2.03. The consensus estimate for Stepan’s current full-year earnings is $2.54 per share. Seaport Res Ptn also issued estimates for Stepan’s Q4 2024 earnings at $0.52 EPS, Q3 2025 earnings at $1.17 EPS and Q4 2025 earnings at $0.71 EPS.

Stepan (NYSE:SCL) last issued its quarterly earnings data on Wednesday, October 30th. The basic materials company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.65 by $0.38. The firm had revenue of $546.84 million for the quarter, compared to analyst estimates of $577.23 million. Stepan had a net margin of 2.10% and a return on equity of 4.56%. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 EPS.

Separately, StockNews.com lowered shares of Stepan from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th.

Stepan Stock Performance

Shares of Stepan stock opened at $74.74 on Thursday. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 37.18 and a beta of 0.81. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.27 and a quick ratio of 0.86. The business has a 50-day moving average of $75.26 and a 200 day moving average of $80.26. Stepan has a 12 month low of $69.78 and a 12 month high of $96.68.

Institutional Investors Weigh In On Stepan

A number of institutional investors and hedge funds have recently bought and sold shares of SCL. Swedbank AB purchased a new stake in shares of Stepan in the 1st quarter valued at about $648,000. First Eagle Investment Management LLC boosted its holdings in shares of Stepan by 36.3% in the first quarter. First Eagle Investment Management LLC now owns 70,376 shares of the basic materials company’s stock valued at $6,337,000 after acquiring an additional 18,733 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Stepan during the second quarter worth approximately $679,000. Semanteon Capital Management LP acquired a new position in shares of Stepan in the 3rd quarter valued at $1,195,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Stepan by 5.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,878 shares of the basic materials company’s stock valued at $1,250,000 after acquiring an additional 775 shares during the period. 82.70% of the stock is owned by hedge funds and other institutional investors.

Stepan Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.385 per share. This represents a $1.54 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Friday, November 29th. This is an increase from Stepan’s previous quarterly dividend of $0.38. Stepan’s payout ratio is currently 74.63%.

Stepan Company Profile

Stepan Company, together with its subsidiaries, produces and sells specialty and intermediate chemicals to other manufacturers for use in various end products worldwide. It operates through three segments: Surfactants, Polymers, and Specialty Products. The Surfactants segment offers surfactants that are used in consumer and industrial cleaning and disinfection products, including detergents for washing clothes, dishes, carpets, and floors and walls, as well as shampoos and body washes; and other applications, such as fabric softeners, germicidal quaternary compounds, disinfectants, and lubricating ingredients.