Ecolab Inc. (ECL) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS
Ecolab Inc. (NYSE:ECL) released its quarterly earnings results on Tuesday. The basic materials company reported $1.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.01, Bloomberg Earnings reports. Ecolab had a return on equity of 18.93% and a net margin of 9.66%. The company had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.55 billion. During the same quarter in the prior year, the business posted $1.28 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. Ecolab updated its Q4 guidance to $1.35-1.45 EPS.
Shares of Ecolab (NYSE ECL) traded up 1.67% during midday trading on Tuesday, hitting $133.10. The stock had a trading volume of 504,062 shares. The firm has a market capitalization of $38.52 billion, a PE ratio of 30.43 and a beta of 0.98. Ecolab has a one year low of $110.65 and a one year high of $134.89. The firm’s 50-day moving average price is $131.43 and its 200-day moving average price is $130.97.
The business also recently announced a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Tuesday, September 19th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend was Monday, September 18th. Ecolab’s dividend payout ratio is 33.79%.
ECL has been the subject of several recent analyst reports. Zacks Investment Research cut Ecolab from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Royal Bank Of Canada increased their price target on Ecolab from $134.00 to $137.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 12th. Credit Suisse Group reissued a “hold” rating on shares of Ecolab in a research note on Wednesday, September 6th. Morgan Stanley initiated coverage on Ecolab in a research note on Tuesday, August 15th. They issued an “equal weight” rating and a $140.00 price target for the company. Finally, Deutsche Bank AG increased their price target on Ecolab from $132.00 to $134.00 and gave the stock a “hold” rating in a research note on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $134.21.
In related news, insider Thomas W. Handley sold 7,397 shares of Ecolab stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $130.63, for a total transaction of $966,270.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder William H. Gates III acquired 75,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were bought at an average cost of $132.57 per share, with a total value of $10,009,035.00. The disclosure for this purchase can be found here. 1.49% of the stock is owned by insiders.
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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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