Ecolab Reaches New 52-Week High at $112.70 (ECL)
Ecolab (NYSE:ECL) shares reached a new 52-week high during mid-day trading on Friday , American Banking News reports. The company traded as high as $112.70 and last traded at $111.65, with a volume of 639,671 shares traded. The stock had previously closed at $111.97.
ECL has been the subject of a number of recent research reports. Analysts at JPMorgan Chase & Co. upgraded shares of Ecolab from a “neutral” rating to an “overweight” rating in a research note on Thursday, July 31st. They now have a $118.00 price target on the stock, up previously from $105.00. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Ecolab in a research note on Wednesday, July 30th. They now have a $122.00 price target on the stock, up previously from $120.00. Finally, analysts at Longbow Research reiterated a “buy” rating on shares of Ecolab in a research note on Wednesday, July 30th. They now have a $130.00 price target on the stock, up previously from $125.00. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $121.08.
The stock’s 50-day moving average is $109.8 and its 200-day moving average is $107.1. The company has a market cap of $33.611 billion and a P/E ratio of 31.39.
Ecolab (NYSE:ECL) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.01. The company had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter in the prior year, the company posted $0.86 earnings per share. The company’s quarterly revenue was up 6.9% on a year-over-year basis. Analysts expect that Ecolab will post $4.19 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 15th. Investors of record on Tuesday, September 16th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend is Friday, September 12th.
Ecolab Inc (NYSE:ECL) develops and markets products and services for the hospitality, foodservice, healthcare and industrial markets.
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