Analysts Anticipate Ingevity Co. (NYSE:NGVT) to Announce $1.64 Earnings Per Share

Equities analysts predict that Ingevity Co. (NYSE:NGVTGet Rating) will announce earnings per share (EPS) of $1.64 for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Ingevity’s earnings, with the lowest EPS estimate coming in at $1.57 and the highest estimate coming in at $1.67. Ingevity reported earnings per share of $1.55 in the same quarter last year, which would indicate a positive year over year growth rate of 5.8%. The business is expected to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Ingevity will report full-year earnings of $5.95 per share for the current year, with EPS estimates ranging from $5.73 to $6.33. For the next fiscal year, analysts anticipate that the company will report earnings of $6.80 per share, with EPS estimates ranging from $6.35 to $7.68. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that that provide coverage for Ingevity.

Ingevity (NYSE:NGVTGet Rating) last released its quarterly earnings results on Wednesday, May 4th. The company reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.58. Ingevity had a return on equity of 32.84% and a net margin of 8.95%. The firm had revenue of $382.80 million for the quarter, compared to the consensus estimate of $341.58 million. During the same period last year, the business posted $1.27 EPS. The company’s revenue for the quarter was up 19.5% on a year-over-year basis.

Several research analysts have issued reports on the company. Zacks Investment Research upgraded Ingevity from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research report on Sunday, February 27th. TheStreet raised Ingevity from a “c” rating to a “b-” rating in a research report on Friday, May 27th. Finally, StockNews.com raised shares of Ingevity from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 31st. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Ingevity has an average rating of “Buy” and a consensus price target of $88.20.

NYSE:NGVT opened at $72.86 on Thursday. Ingevity has a 52 week low of $56.31 and a 52 week high of $88.58. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 1.38. The business’s 50-day simple moving average is $65.25 and its two-hundred day simple moving average is $67.74. The stock has a market cap of $2.82 billion, a PE ratio of 22.21 and a beta of 1.96.

Several hedge funds have recently added to or reduced their stakes in NGVT. Synovus Financial Corp boosted its position in shares of Ingevity by 3.0% during the 4th quarter. Synovus Financial Corp now owns 5,521 shares of the company’s stock valued at $398,000 after purchasing an additional 159 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of Ingevity by 87.6% in the fourth quarter. Bessemer Group Inc. now owns 394 shares of the company’s stock worth $28,000 after purchasing an additional 184 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Ingevity by 3.8% in the first quarter. Bank of Montreal Can now owns 5,186 shares of the company’s stock worth $338,000 after purchasing an additional 188 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in shares of Ingevity by 2.0% in the first quarter. Louisiana State Employees Retirement System now owns 10,300 shares of the company’s stock worth $664,000 after purchasing an additional 200 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its position in shares of Ingevity by 0.5% in the fourth quarter. Retirement Systems of Alabama now owns 51,444 shares of the company’s stock worth $3,689,000 after purchasing an additional 273 shares in the last quarter. 96.34% of the stock is currently owned by institutional investors and hedge funds.

About Ingevity (Get Rating)

Ingevity Corporation manufactures and sells specialty chemicals and activated carbon materials in North America, the Asia Pacific, Europe, the Middle East, Africa, and South America. The company operates through two segments, Performance Materials and Performance Chemicals. The Performance Materials segment engineers, manufactures, and sells hardwood-based and chemically activated carbon products primarily for use in gasoline vapor emission control systems in cars, motorcycles, trucks, and boats.

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