Credit Suisse Downgrades Ecolab to Neutral (ECL)
Ecolab (NYSE:ECL) was downgraded by Credit Suisse from an “outperform” rating to a “neutral” rating in a research note issued on Monday, TheFlyOnTheWall.com reports. They currently have a $112.00 price target on the stock, up from their previous price target of $100.00. Credit Suisse’s target price points to a potential upside of 9.50% from the stock’s previous close.
A number of other firms have also recently commented on ECL. Analysts at Jefferies Group raised their price target on shares of Ecolab from $115.00 to $123.00 in a research note to investors on Friday, November 1st. They now have a “buy” rating on the stock. Separately, analysts at RBC Capital raised their price target on shares of Ecolab from $105.00 to $111.00 in a research note to investors on Wednesday, October 30th. They now have an “outperform” rating on the stock. Finally, analysts at Oppenheimer raised their price target on shares of Ecolab from $105.00 to $113.00 in a research note to investors on Wednesday, October 30th. They now have an “outperform” rating on the stock. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $107.36.
Ecolab (NYSE:ECL) traded down 1.58% during mid-day trading on Monday, hitting $102.28. The stock had a trading volume of 1,657,481 shares. Ecolab has a 1-year low of $71.99 and a 1-year high of $108.34. The stock has a 50-day moving average of $104.9 and a 200-day moving average of $97.69. The company has a market cap of $30.817 billion and a price-to-earnings ratio of 34.66.
Ecolab (NYSE:ECL) last released its earnings data on Tuesday, October 29th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.01. The company had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same quarter in the previous year, the company posted $0.87 earnings per share. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. On average, analysts predict that Ecolab will post $3.55 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, January 15th. Investors of record on Tuesday, December 17th will be paid a dividend of 0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Friday, December 13th. This is an increase from Ecolab’s previous quarterly dividend of $0.23.
Ecolab Inc (NYSE:ECL) develops and markets products and services for the hospitality, foodservice, healthcare and industrial markets.
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