Ingevity (NGVT) Set to Announce Quarterly Earnings on Wednesday

Ingevity (NYSE:NGVT) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, July 31st. Analysts expect the company to announce earnings of $0.98 per share for the quarter. Ingevity has set its FY 2024 guidance at EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

Ingevity (NYSE:NGVT) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.15. The business had revenue of $340.10 million during the quarter, compared to analysts’ expectations of $319.15 million. Ingevity had a positive return on equity of 18.65% and a negative net margin of 6.84%. The company’s revenue for the quarter was down 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.09 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

Shares of NGVT stock opened at $45.66 on Tuesday. The stock has a market cap of $1.66 billion, a PE ratio of -14.70 and a beta of 1.66. The business has a 50-day simple moving average of $45.43 and a 200-day simple moving average of $46.40. The company has a quick ratio of 0.98, a current ratio of 1.90 and a debt-to-equity ratio of 2.48. Ingevity has a 52-week low of $36.66 and a 52-week high of $64.76.

Wall Street Analysts Forecast Growth

NGVT has been the subject of several analyst reports. Oppenheimer boosted their price objective on Ingevity from $50.00 to $58.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Jefferies Financial Group raised Ingevity from a “hold” rating to a “buy” rating and boosted their price objective for the company from $52.00 to $62.00 in a report on Monday, April 22nd. Loop Capital lifted their price target on Ingevity from $49.00 to $56.00 and gave the company a “hold” rating in a research note on Tuesday, May 7th. BMO Capital Markets lifted their price target on Ingevity from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Wednesday, May 8th. Finally, Wells Fargo & Company cut their price target on Ingevity from $55.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday, July 11th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $54.17.

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.