Ingevity (NGVT) Set to Announce Quarterly Earnings on Wednesday

Ingevity (NYSE:NGVT) will be issuing its quarterly earnings data 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.Parties interested in listening to the company’s conference call can do so using this link.

Ingevity (NYSE:NGVT) last issued its earnings results on Wednesday, February 21st. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.34. Ingevity had a positive return on equity of 20.75% and a negative net margin of 0.32%. The firm had revenue of $371.70 million for the quarter, compared to analyst estimates of $336.74 million. During the same period last year, the company earned $0.57 earnings per share. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, analysts expect Ingevity to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Ingevity Trading Up 5.0 %

NYSE:NGVT opened at $50.93 on Tuesday. Ingevity has a 1 year low of $36.66 and a 1 year high of $72.76. The business has a fifty day moving average of $46.50 and a 200-day moving average of $43.87. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.81 and a quick ratio of 0.96.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on NGVT shares. Wells Fargo & Company increased their price target on Ingevity from $43.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday, February 23rd. Jefferies Financial Group raised Ingevity from a “hold” rating to a “buy” rating and increased their price target for the stock from $52.00 to $62.00 in a research note on Monday, April 22nd. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $51.40.

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.