Seaport Global Securities Weighs in on Ecolab Inc.’s Q3 2016 Earnings (ECL)
Ecolab Inc. (NYSE:ECL) – Investment analysts at Seaport Global Securities lowered their Q3 2016 earnings per share (EPS) estimates for shares of Ecolab in a research report issued to clients and investors on Monday. Seaport Global Securities analyst M. Harrison now anticipates that the firm will post earnings per share of $1.27 for the quarter, down from their previous estimate of $1.29. Seaport Global Securities also issued estimates for Ecolab’s Q1 2017 earnings at $0.96 EPS, Q3 2017 earnings at $1.41 EPS, Q4 2017 earnings at $1.39 EPS and FY2017 earnings at $4.95 EPS.
A number of other analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Ecolab from a “hold” rating to a “buy” rating and set a $136.00 price target on the stock in a research note on Tuesday, October 4th. Macquarie began coverage on shares of Ecolab in a research note on Thursday, August 25th. They set an “outperform” rating and a $143.00 price target on the stock. Nomura upped their price target on shares of Ecolab from $94.00 to $98.00 and gave the company a “reduce” rating in a research note on Monday, August 22nd. Credit Suisse Group AG restated a “hold” rating and set a $120.00 price target on shares of Ecolab in a research note on Wednesday, August 3rd. Finally, Oppenheimer Holdings Inc. upped their price target on shares of Ecolab from $120.00 to $129.00 and gave the company an “outperform” rating in a research note on Wednesday, August 3rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $127.68.
Shares of Ecolab (NYSE:ECL) traded up 0.57% during mid-day trading on Wednesday, hitting $117.26. 316,007 shares of the company traded hands. The firm’s 50 day moving average price is $119.64 and its 200-day moving average price is $118.67. The stock has a market capitalization of $34.19 billion, a PE ratio of 36.77 and a beta of 0.87. Ecolab has a 1-year low of $98.62 and a 1-year high of $124.60.
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Ecolab (NYSE:ECL) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $1.08 earnings per share for the quarter, hitting the consensus estimate of $1.08. Ecolab had a net margin of 7.20% and a return on equity of 19.24%. The company had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $3.33 billion. During the same quarter in the previous year, the firm posted $1.08 earnings per share. Ecolab’s revenue for the quarter was down 2.1% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 17th. Investors of record on Tuesday, September 20th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend was Friday, September 16th. Ecolab’s dividend payout ratio is currently 43.89%.
In other Ecolab news, Chairman Douglas M. Baker, Jr. sold 25,800 shares of the firm’s stock in a transaction on Friday, August 19th. The shares were sold at an average price of $122.41, for a total value of $3,158,178.00. Following the sale, the chairman now owns 456,349 shares of the company’s stock, valued at approximately $55,861,681.09. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Michael A. Hickey sold 17,761 shares of the firm’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $123.90, for a total transaction of $2,200,587.90. Following the completion of the sale, the executive vice president now directly owns 61,342 shares in the company, valued at approximately $7,600,273.80. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. Cypress Wealth Advisors LLC raised its stake in shares of Ecolab by 0.5% in the second quarter. Cypress Wealth Advisors LLC now owns 2,243 shares of the company’s stock worth $266,000 after buying an additional 12 shares during the period. Private Trust Co. NA raised its stake in shares of Ecolab by 0.3% in the third quarter. Private Trust Co. NA now owns 5,032 shares of the company’s stock worth $612,000 after buying an additional 15 shares during the period. Conning Inc. raised its stake in shares of Ecolab by 0.3% in the second quarter. Conning Inc. now owns 6,516 shares of the company’s stock worth $773,000 after buying an additional 20 shares during the period. WFG Advisors LP raised its stake in shares of Ecolab by 0.8% in the second quarter. WFG Advisors LP now owns 3,285 shares of the company’s stock worth $390,000 after buying an additional 25 shares during the period. Finally, Lincoln Capital LLC raised its stake in shares of Ecolab by 0.4% in the second quarter. Lincoln Capital LLC now owns 7,541 shares of the company’s stock worth $894,000 after buying an additional 27 shares during the period. 74.79% of the stock is currently owned by institutional investors and hedge funds.
Ecolab Company Profile
Ecolab Inc provides water, hygiene and energy technologies and services. The Company’s segments include Global Industrial, Global Institutional, Global Energy, Other and Corporate. The Global Industrial segment consists of the Water, Food and Beverage, Paper and Textile Care operating units. The Global Institutional segment consists of the Institutional, Specialty and Healthcare operating units.
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