Ingevity (NGVT) Scheduled to Post Quarterly Earnings on Wednesday

Ingevity (NYSE:NGVT) is set to announce its earnings results 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.Investors interested in listening to the company’s conference call can do so using this link.

Ingevity (NYSE:NGVT) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.21 EPS for the quarter, topping the consensus estimate of ($0.13) by $0.34. The company had revenue of $371.70 million during the quarter, compared to the consensus estimate of $336.74 million. Ingevity had a negative net margin of 0.32% and a positive return on equity of 20.75%. The company’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.57 EPS. 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 2.2 %

Shares of NGVT stock opened at $48.90 on Wednesday. Ingevity has a 52 week low of $36.66 and a 52 week high of $72.76. The company has a quick ratio of 0.96, a current ratio of 1.81 and a debt-to-equity ratio of 2.19. The firm has a 50 day moving average of $46.23 and a 200-day moving average of $43.61.

Analyst Ratings Changes

NGVT has been the subject of several research reports. Wells Fargo & Company lifted their price target on shares of Ingevity from $43.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday, February 23rd. Jefferies Financial Group raised shares of Ingevity from a “hold” rating to a “buy” rating and lifted their price target for the company from $52.00 to $62.00 in a research report on Monday. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price 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.