Ecolab Inc. (NYSE:ECL) Expected to Announce Quarterly Sales of $3.40 Billion
Wall Street analysts forecast that Ecolab Inc. (NYSE:ECL) will announce sales of $3.40 billion for the current quarter, according to Zacks. Seven analysts have provided estimates for Ecolab’s earnings, with estimates ranging from $3.38 billion to $3.43 billion. Ecolab posted sales of $3.32 billion in the same quarter last year, which would indicate a positive year over year growth rate of 2.4%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Tuesday, August 1st.
On average, analysts expect that Ecolab will report full-year sales of $3.40 billion for the current fiscal year, with estimates ranging from $13.53 billion to $13.74 billion. For the next financial year, analysts expect that the firm will post sales of $14.23 billion per share, with estimates ranging from $14.10 billion to $14.39 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Ecolab.
Ecolab (NYSE:ECL) last released its quarterly earnings results on Tuesday, May 2nd. The basic materials company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.81 by $0.01. The company had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.16 billion. Ecolab had a net margin of 9.47% and a return on equity of 18.96%. The business’s revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.77 EPS.
A number of equities analysts have recently issued reports on the company. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $141.00 price target (up previously from $133.00) on shares of Ecolab in a research report on Friday, June 2nd. Canaccord Genuity reissued a “buy” rating and set a $135.00 price target on shares of Ecolab in a research report on Monday, May 1st. Instinet raised Ecolab from a “reduce” rating to a “neutral” rating and increased their price target for the stock from $99.00 to $118.00 in a research report on Monday, April 3rd. Nomura raised Ecolab from a “reduce” rating to a “neutral” rating and increased their price target for the stock from $99.00 to $118.00 in a research report on Monday, April 3rd. Finally, J P Morgan Chase & Co raised Ecolab from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $120.00 to $138.00 in a research report on Friday, May 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $129.79.
In other Ecolab news, SVP Bruno Lavandier sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $133.52, for a total value of $133,520.00. Following the completion of the sale, the senior vice president now owns 8,922 shares of the company’s stock, valued at $1,191,265.44. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Carl M. Casale purchased 5,000 shares of the stock in a transaction on Friday, May 5th. The stock was acquired at an average cost of $126.33 per share, with a total value of $631,650.00. Following the acquisition, the director now owns 11,495 shares of the company’s stock, valued at approximately $1,452,163.35. The disclosure for this purchase can be found here. In the last three months, insiders sold 44,810 shares of company stock valued at $5,897,361. Corporate insiders own 1.49% of the company’s stock.
A number of large investors have recently modified their holdings of ECL. FUKOKU MUTUAL LIFE INSURANCE Co increased its stake in shares of Ecolab by 60.0% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 800 shares of the basic materials company’s stock valued at $100,000 after buying an additional 300 shares in the last quarter. JNBA Financial Advisors increased its stake in shares of Ecolab by 2.5% in the first quarter. JNBA Financial Advisors now owns 871 shares of the basic materials company’s stock valued at $109,000 after buying an additional 21 shares in the last quarter. Harfst & Associates Inc. acquired a new stake in shares of Ecolab during the first quarter valued at $117,000. Guardian Life Insurance Co. of America increased its stake in shares of Ecolab by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,012 shares of the basic materials company’s stock valued at $127,000 after buying an additional 7 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Ecolab during the first quarter valued at $134,000. 75.65% of the stock is owned by institutional investors and hedge funds.
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Shares of Ecolab (ECL) opened at 132.72 on Friday. The company has a market cap of $38.49 billion, a PE ratio of 31.35 and a beta of 0.98. The company has a 50-day moving average of $131.33 and a 200 day moving average of $125.10. Ecolab has a 12-month low of $110.65 and a 12-month high of $134.89.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Tuesday, June 20th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.12%. The ex-dividend date is Friday, June 16th. Ecolab’s dividend payout ratio is presently 34.91%.
Ecolab Inc provides water, hygiene and energy technologies and services. The Company’s cleaning and sanitizing programs and products, pest elimination services and equipment maintenance and repair services support customers in the foodservice, food and beverage processing, hospitality, healthcare, government and education, retail, textile care and commercial facilities management sectors in over 170 countries.
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