NewMarket Corporation (NEU) Releases Quarterly Earnings Results
NewMarket Corporation (NYSE:NEU) issued its quarterly earnings data on Friday. The company reported $4.01 earnings per share for the quarter, beating the analysts’ consensus estimate of $3.55 by $0.46, American Banking News reports. The company had revenue of $556.40 million for the quarter, compared to the consensus estimate of $529.92 million.
Shares of NewMarket Corporation (NYSE:NEU) opened at 318.50 on Friday. NewMarket Corporation has a 52-week low of $238.00 and a 52-week high of $341.69. The stock’s 50-day moving average is $328.4 and its 200-day moving average is $302.0. The company has a market cap of $4.223 billion and a P/E ratio of 16.01.
On the ratings front, analysts at Robert W. Baird downgraded shares of NewMarket Corporation from an “outperform” rating to a “neutral” rating in a research note to investors on Thursday. They now have a $36.00 price target on the stock.
NewMarket Corporation (NYSE:NEU) is a holding company, which is the parent company of Afton Chemical Corporation (Afton), Ethyl Corporation (Ethyl), NewMarket Services Corporation (NewMarket Services), and NewMarket Development Corporation (NewMarket Development).
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