Brokerages Expect Ingevity Corp (NGVT) to Announce $0.74 Earnings Per Share
Analysts expect that Ingevity Corp (NASDAQ:NGVT) will announce $0.74 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Ingevity Corp’s earnings, with the lowest EPS estimate coming in at $0.72 and the highest estimate coming in at $0.77. Ingevity Corp reported earnings per share of $0.64 in the same quarter last year, which suggests a positive year-over-year growth rate of 15.6%. The company is scheduled to report its next earnings report on Wednesday, November 1st.
On average, analysts expect that Ingevity Corp will report full year earnings of $2.38 per share for the current financial year, with EPS estimates ranging from $2.30 to $2.45. For the next financial year, analysts anticipate that the company will post earnings of $2.69 per share, with EPS estimates ranging from $2.50 to $2.81. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Ingevity Corp.
Ingevity Corp (NASDAQ:NGVT) last issued its earnings results on Wednesday, August 2nd. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.70 by $0.08. The company had revenue of $260.30 million during the quarter, compared to analysts’ expectations of $259.56 million. Ingevity Corp had a net margin of 10.53% and a return on equity of 55.06%. The business’s revenue was up 2.3% compared to the same quarter last year.
A number of equities analysts have recently commented on NGVT shares. Zacks Investment Research lowered shares of Ingevity Corp from a “hold” rating to a “sell” rating in a report on Wednesday, April 26th. Jefferies Group LLC set a $68.00 price target on shares of Ingevity Corp and gave the stock a “buy” rating in a report on Wednesday, July 5th. Finally, Aegis reiterated a “buy” rating and set a $67.00 price target on shares of Ingevity Corp in a report on Tuesday, July 4th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Ingevity Corp currently has a consensus rating of “Buy” and a consensus target price of $64.75.
Shares of Ingevity Corp (NASDAQ NGVT) opened at 55.74 on Friday. The company has a market cap of $2.35 billion and a PE ratio of 44.52. Ingevity Corp has a 52-week low of $40.24 and a 52-week high of $65.02. The company has a 50 day moving average of $57.80 and a 200-day moving average of $58.26.
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A number of institutional investors have recently made changes to their positions in NGVT. Mackenzie Financial Corp purchased a new position in shares of Ingevity Corp during the first quarter worth $359,000. OppenheimerFunds Inc. increased its position in shares of Ingevity Corp by 6.9% in the first quarter. OppenheimerFunds Inc. now owns 534,701 shares of the company’s stock worth $32,537,000 after buying an additional 34,656 shares in the last quarter. Hosking Partners LLP increased its position in shares of Ingevity Corp by 9.9% in the first quarter. Hosking Partners LLP now owns 21,455 shares of the company’s stock worth $1,306,000 after buying an additional 1,939 shares in the last quarter. MARSHALL WACE ASIA Ltd purchased a new position in shares of Ingevity Corp during the first quarter worth $353,000. Finally, Wellington Management Group LLP increased its position in shares of Ingevity Corp by 85.8% in the first quarter. Wellington Management Group LLP now owns 627,588 shares of the company’s stock worth $38,188,000 after buying an additional 289,880 shares in the last quarter.
About Ingevity Corp
Ingevity Corporation is a manufacturer of specialty chemicals and high performance carbon materials. The Company is also a manufacturer of activated carbon used in gasoline vapor emission control systems in cars, trucks, motorcycles and boats. The Company operates through two segments: Performance Materials and Performance Chemicals.
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