Ingevity (NGVT) to Release Quarterly Earnings on Tuesday

Ingevity (NYSE:NGVT) will announce its earnings results after the market closes on Tuesday, October 29th. Analysts expect the company to announce earnings of $0.60 per share for the quarter. Ingevity has set its FY 2024 guidance at EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

Ingevity (NYSE:NGVT) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.04). The company had revenue of $390.60 million during the quarter, compared to analysts’ expectations of $407.58 million. Ingevity had a negative net margin of 27.85% and a positive return on equity of 19.59%. The business’s quarterly revenue was down 18.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.41 EPS. On average, analysts expect Ingevity to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Ingevity Stock Performance

Shares of NGVT opened at $33.80 on Tuesday. The stock has a 50-day simple moving average of $36.91 and a 200-day simple moving average of $43.00. The company has a debt-to-equity ratio of 4.92, a quick ratio of 1.07 and a current ratio of 1.92. The stock has a market capitalization of $1.23 billion, a PE ratio of -10.87 and a beta of 1.62. Ingevity has a 1 year low of $30.90 and a 1 year high of $56.29.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. CJS Securities upgraded Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 price objective for the company in a research note on Wednesday, August 7th. Wells Fargo & Company decreased their price objective on Ingevity from $45.00 to $40.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. Oppenheimer decreased their price objective on Ingevity from $58.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Finally, BMO Capital Markets decreased their target price on Ingevity from $42.00 to $40.00 and set a “market perform” rating for the company in a research note on Monday, September 30th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Ingevity has a consensus rating of “Moderate Buy” and a consensus price target of $51.00.

About Ingevity

Ingevity Corporation manufactures and sells activated carbon products, derivative specialty chemicals, and engineered polymers in North America, the Asia Pacific, Europe, the Middle East, Africa, and South America. It operates through three segments: Performance Materials, Performance Chemicals, and Advanced Polymer Technologies.