Ecolab (NYSE:ECL) Issues FY 2024 Earnings Guidance

Ecolab (NYSE:ECL) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 6.400-6.700 for the period, compared to the consensus earnings per share estimate of 6.390. The company issued revenue guidance of -. Ecolab also updated its FY24 guidance to $6.40-6.70 EPS.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. UBS Group lifted their price objective on shares of Ecolab from $211.00 to $227.00 and gave the company a buy rating in a research report on Thursday, January 11th. Stifel Nicolaus lifted their price objective on shares of Ecolab from $225.00 to $233.00 and gave the company a hold rating in a research report on Wednesday. Wolfe Research initiated coverage on shares of Ecolab in a research report on Friday, March 1st. They issued a peer perform rating on the stock. Citigroup boosted their target price on shares of Ecolab from $237.00 to $256.00 and gave the stock a neutral rating in a research report on Wednesday, April 10th. Finally, Barclays upgraded shares of Ecolab from an equal weight rating to an overweight rating and boosted their target price for the stock from $225.00 to $260.00 in a research report on Wednesday, February 28th. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $231.88.

Ecolab Price Performance

ECL stock traded down $1.22 during trading on Wednesday, hitting $224.93. The company had a trading volume of 304,671 shares, compared to its average volume of 1,209,068. The company has a fifty day moving average price of $224.21 and a two-hundred day moving average price of $202.21. The company has a current ratio of 1.30, a quick ratio of 0.95 and a debt-to-equity ratio of 0.94. The company has a market cap of $64.31 billion, a P/E ratio of 46.87, a P/E/G ratio of 2.59 and a beta of 1.10. Ecolab has a fifty-two week low of $156.72 and a fifty-two week high of $231.86.

Ecolab (NYSE:ECL) last issued its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.01. Ecolab had a return on equity of 19.36% and a net margin of 8.96%. The firm had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.74 billion. During the same quarter in the previous year, the company posted $0.88 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. Equities research analysts expect that Ecolab will post 6.42 earnings per share for the current fiscal year.

Ecolab Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Tuesday, March 19th were paid a $0.57 dividend. The ex-dividend date of this dividend was Monday, March 18th. This represents a $2.28 dividend on an annualized basis and a yield of 1.01%. Ecolab’s payout ratio is 47.60%.

Ecolab Company Profile

Ecolab Inc provides water, hygiene, and infection prevention solutions and services in the United States and internationally. The company operates through three segments: Global Industrial; Global Institutional & Specialty; and Global Healthcare & Life Sciences. The Global Industrial segment offers water treatment and process applications, and cleaning and sanitizing solutions to manufacturing, food and beverage processing, transportation, chemical, metals and mining, power generation, pulp and paper, commercial laundry, petroleum, refining, and petrochemical industries.