Ecovyst (NYSE:ECVT) Issues FY 2024 Earnings Guidance

Ecovyst (NYSE:ECVT) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 0.450-0.630 for the period, compared to the consensus EPS estimate of 0.560. The company issued revenue guidance of $700.0 million-$740.0 million, compared to the consensus revenue estimate of $718.8 million.

Ecovyst Price Performance

Shares of NYSE:ECVT traded up $0.96 on Friday, reaching $7.62. 3,431,087 shares of the company were exchanged, compared to its average volume of 998,348. The company has a 50-day moving average of $6.65 and a 200-day moving average of $8.12. The company has a current ratio of 2.72, a quick ratio of 2.18 and a debt-to-equity ratio of 1.19. The firm has a market cap of $887.50 million, a price-to-earnings ratio of 16.57, a price-to-earnings-growth ratio of 1.19 and a beta of 1.01. Ecovyst has a 1-year low of $6.02 and a 1-year high of $11.35.

Ecovyst (NYSE:ECVT) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Ecovyst had a return on equity of 7.11% and a net margin of 7.74%. The company had revenue of $182.80 million for the quarter, compared to analysts’ expectations of $189.79 million. During the same period in the prior year, the firm posted $0.26 EPS. The firm’s quarterly revenue was down .7% on a year-over-year basis. Equities analysts forecast that Ecovyst will post 0.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ECVT shares. KeyCorp lowered their price target on Ecovyst from $13.00 to $10.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. BMO Capital Markets dropped their price target on Ecovyst from $11.00 to $9.00 and set an “outperform” rating for the company in a research report on Friday. BWS Financial reaffirmed a “buy” rating and set a $12.00 price target on shares of Ecovyst in a research note on Friday. Finally, Citigroup lowered their price objective on shares of Ecovyst from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, July 12th.

Insider Buying and Selling at Ecovyst

In related news, insider Joseph S. Koscinski acquired 4,807 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $6.26 per share, with a total value of $30,091.82. Following the completion of the purchase, the insider now directly owns 544,609 shares in the company, valued at approximately $3,409,252.34. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Joseph S. Koscinski acquired 4,807 shares of Ecovyst stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $6.26 per share, with a total value of $30,091.82. Following the completion of the purchase, the insider now owns 544,609 shares of the company’s stock, valued at approximately $3,409,252.34. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Whittleston bought 7,800 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were purchased at an average price of $6.50 per share, for a total transaction of $50,700.00. Following the transaction, the insider now owns 57,542 shares of the company’s stock, valued at $374,023. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.59% of the stock is owned by insiders.

Ecovyst Company Profile

Ecovyst Inc offers specialty catalysts and services in the United States and internationally. The company operates in two segments, Ecoservices and Advanced Materials & Catalysts. The Ecoservices segment provides sulfuric acid recycling services and end-to-end logistics for production of alkylate for refineries; and virgin sulfuric acid for mining, water treatment, and industrial applications.