FY2024 EPS Estimates for Stepan Boosted by Seaport Res Ptn

Stepan (NYSE:SCL) – Research analysts at Seaport Res Ptn increased their FY2024 earnings per share estimates for shares of Stepan in a report issued on Monday, November 11th. Seaport Res Ptn analyst M. Harrison now forecasts that the basic materials company will earn $2.60 per share for the year, up from their prior forecast of $2.03. The consensus estimate for Stepan’s current full-year earnings is $2.09 per share. Seaport Res Ptn also issued estimates for Stepan’s Q4 2024 earnings at $0.52 EPS, Q3 2025 earnings at $1.17 EPS and Q4 2025 earnings at $0.71 EPS.

Stepan (NYSE:SCL) last issued its quarterly earnings data on Wednesday, October 30th. The basic materials company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.38. The firm had revenue of $546.84 million during the quarter, compared to analysts’ expectations of $577.23 million. Stepan had a net margin of 2.10% and a return on equity of 4.56%. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.64 earnings per share.

Separately, StockNews.com downgraded Stepan from a “buy” rating to a “hold” rating in a report on Saturday, November 9th.

Stepan Stock Performance

SCL stock opened at $75.85 on Thursday. Stepan has a 1-year low of $69.78 and a 1-year high of $96.68. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.29. The firm has a market cap of $1.71 billion, a PE ratio of 37.74 and a beta of 0.81. The business’s 50-day moving average price is $75.21 and its two-hundred day moving average price is $80.33.

Stepan Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.385 dividend. The ex-dividend date is Friday, November 29th. This is a boost from Stepan’s previous quarterly dividend of $0.38. This represents a $1.54 annualized dividend and a dividend yield of 2.03%. Stepan’s dividend payout ratio (DPR) is currently 74.63%.

Institutional Investors Weigh In On Stepan

Hedge funds have recently bought and sold shares of the company. Quest Partners LLC lifted its position in Stepan by 3,053.3% during the second quarter. Quest Partners LLC now owns 473 shares of the basic materials company’s stock worth $40,000 after acquiring an additional 458 shares during the last quarter. Copeland Capital Management LLC acquired a new stake in Stepan during the 3rd quarter worth approximately $48,000. Innealta Capital LLC bought a new stake in Stepan in the 2nd quarter valued at $59,000. Adirondack Trust Co. grew its holdings in Stepan by 60.0% in the 2nd quarter. Adirondack Trust Co. now owns 800 shares of the basic materials company’s stock valued at $67,000 after buying an additional 300 shares in the last quarter. Finally, KBC Group NV grew its holdings in Stepan by 43.9% in the 3rd quarter. KBC Group NV now owns 934 shares of the basic materials company’s stock valued at $72,000 after buying an additional 285 shares in the last quarter. 82.70% of the stock is currently owned by institutional investors and hedge funds.

About Stepan

Stepan Company, together with its subsidiaries, produces and sells specialty and intermediate chemicals to other manufacturers for use in various end products worldwide. It operates through three segments: Surfactants, Polymers, and Specialty Products. The Surfactants segment offers surfactants that are used in consumer and industrial cleaning and disinfection products, including detergents for washing clothes, dishes, carpets, and floors and walls, as well as shampoos and body washes; and other applications, such as fabric softeners, germicidal quaternary compounds, disinfectants, and lubricating ingredients.