Brokerages expect Stepan (NYSE:SCL) to announce $441.45 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Stepan’s earnings, with estimates ranging from $438.60 million to $444.30 million. Stepan reported sales of $466.66 million during the same quarter last year, which indicates a negative year over year growth rate of 5.4%. The firm is expected to issue its next quarterly earnings report on Thursday, February 20th.
According to Zacks, analysts expect that Stepan will report full year sales of $1.86 billion for the current financial year, with estimates ranging from $1.85 billion to $1.86 billion. For the next financial year, analysts forecast that the business will report sales of $1.92 billion, with estimates ranging from $1.85 billion to $1.99 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Stepan.
Stepan (NYSE:SCL) last issued its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. Stepan had a net margin of 5.75% and a return on equity of 14.10%. The business had revenue of $451.60 million during the quarter, compared to analyst estimates of $489.40 million. During the same quarter last year, the business earned $1.11 EPS. The firm’s quarterly revenue was down 11.1% on a year-over-year basis.
Separately, Zacks Investment Research cut Stepan from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $41.75.
In related news, VP Arthur W. Mergner sold 3,803 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $99.20, for a total transaction of $377,257.60. Also, VP David Kabbes bought 821 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were bought at an average cost of $97.50 per share, for a total transaction of $80,047.50. The disclosure for this purchase can be found here. Corporate insiders own 11.40% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SCL. Chicago Equity Partners LLC raised its holdings in Stepan by 256.7% during the 3rd quarter. Chicago Equity Partners LLC now owns 27,840 shares of the basic materials company’s stock valued at $2,702,000 after acquiring an additional 20,035 shares during the period. Nuveen Asset Management LLC bought a new stake in shares of Stepan during the second quarter valued at about $22,128,000. JPMorgan Chase & Co. increased its position in shares of Stepan by 2.5% during the second quarter. JPMorgan Chase & Co. now owns 157,776 shares of the basic materials company’s stock valued at $14,173,000 after buying an additional 3,898 shares during the period. UBS Asset Management Americas Inc. lifted its holdings in shares of Stepan by 25.4% in the second quarter. UBS Asset Management Americas Inc. now owns 20,920 shares of the basic materials company’s stock worth $1,923,000 after buying an additional 4,240 shares in the last quarter. Finally, California Public Employees Retirement System lifted its holdings in shares of Stepan by 68.1% in the third quarter. California Public Employees Retirement System now owns 48,657 shares of the basic materials company’s stock worth $4,723,000 after buying an additional 19,704 shares in the last quarter. 73.97% of the stock is owned by institutional investors.
NYSE:SCL traded up $0.37 during trading hours on Thursday, hitting $98.04. 729 shares of the company were exchanged, compared to its average volume of 63,187. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of 20.09 and a beta of 1.29. Stepan has a one year low of $69.17 and a one year high of $101.84. The company has a fifty day simple moving average of $98.03 and a 200 day simple moving average of $94.86. The company has a current ratio of 2.72, a quick ratio of 2.03 and a debt-to-equity ratio of 0.28.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a $0.275 dividend. This is a positive change from Stepan’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date was Wednesday, November 27th. Stepan’s dividend payout ratio is currently 22.54%.
Stepan Company, together with its subsidiaries, produces and sells specialty and intermediate chemicals to other manufacturers for use in various end products in North America, Europe, Latin America, and Asia. The company operates through three segments: Surfactants, Polymers, and Specialty Products.
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