Zep Stock Price Down 9.3% After Earnings Miss (ZEP)
Shares of Zep (NYSE:ZEP) were down 9.3% during trading on Friday following a weaker than expected earnings announcement, AnalystRatings.Net reports. The stock traded as low as $16.35 and last traded at $16.35, with a volume of 87,435 shares. The stock had previously closed at $18.03.
The company reported $0.30 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.39 by $0.09. The company had revenue of $187.00 million for the quarter, compared to the consensus estimate of $188.23 million. During the same quarter in the prior year, the company posted $0.34 earnings per share. The company’s quarterly revenue was up .5% on a year-over-year basis.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 1st. Stockholders of record on Friday, July 18th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Wednesday, July 16th.
The stock has a 50-day moving average of $17.73 and a 200-day moving average of $17.50. The company has a market cap of $377.5 million and a P/E ratio of 35.56.
Zep Inc, is a provider of cleaning and maintenance chemicals and related products and services. The Company produces a range cleaning and maintenance solutions for commercial, industrial, institutional and consumer customers, which include anti-bacterial and industrial hand care products, cleaners, degreasers, deodorizers, disinfectants, floor finishes, sanitizers, pest- and weed-control products, air-care products, delivery systems and automotive maintenance chemicals.
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