Ecolab (NYSE:ECL) Releases FY 2024 Earnings Guidance

Ecolab (NYSE:ECL) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 6.400-6.700 for the period, compared to the consensus EPS estimate of 6.390. The company issued revenue guidance of -. Ecolab also updated its FY24 guidance to $6.40-6.70 EPS.

Ecolab Stock Up 0.3 %

Ecolab stock opened at $221.67 on Tuesday. Ecolab has a twelve month low of $156.72 and a twelve month high of $231.86. The company has a quick ratio of 0.95, a current ratio of 1.30 and a debt-to-equity ratio of 0.94. The company has a 50 day moving average of $224.02 and a 200-day moving average of $201.77. The stock has a market capitalization of $63.38 billion, a PE ratio of 46.28, a price-to-earnings-growth ratio of 2.58 and a beta of 1.10.

Ecolab (NYSE:ECL) last released its earnings results on Tuesday, February 13th. The basic materials company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. The firm had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Ecolab had a return on equity of 19.36% and a net margin of 8.96%. The company’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.27 EPS. On average, equities research analysts anticipate that Ecolab will post 6.42 EPS for the current fiscal year.

Ecolab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Tuesday, March 19th were given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date was Monday, March 18th. Ecolab’s dividend payout ratio is presently 47.60%.

Analyst Upgrades and Downgrades

ECL has been the subject of several analyst reports. Robert W. Baird raised their price objective on Ecolab from $184.00 to $232.00 and gave the company a neutral rating in a report on Wednesday, February 14th. Mizuho raised Ecolab from a neutral rating to a buy rating and increased their price objective for the company from $216.00 to $260.00 in a report on Friday, April 12th. Wells Fargo & Company boosted their target price on shares of Ecolab from $240.00 to $250.00 and gave the stock an overweight rating in a report on Wednesday, February 14th. Seaport Res Ptn cut shares of Ecolab from a buy rating to a neutral rating in a research note on Monday, January 8th. Finally, Bank of America upgraded shares of Ecolab from an underperform rating to a neutral rating and boosted their price objective for the stock from $185.00 to $216.00 in a research note on Tuesday, January 16th. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Ecolab presently has an average rating of Hold and a consensus price target of $230.47.

Ecolab Company Profile

Ecolab Inc provides water, hygiene, and infection prevention solutions and services in the United States and internationally. The company operates through three segments: Global Industrial; Global Institutional & Specialty; and Global Healthcare & Life Sciences. The Global Industrial segment offers water treatment and process applications, and cleaning and sanitizing solutions to manufacturing, food and beverage processing, transportation, chemical, metals and mining, power generation, pulp and paper, commercial laundry, petroleum, refining, and petrochemical industries.