Ingevity Corp (NGVT) Expected to Announce Earnings of $0.78 Per Share

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Equities research analysts predict that Ingevity Corp (NYSE:NGVT) will post earnings per share of $0.78 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Ingevity’s earnings, with the lowest EPS estimate coming in at $0.74 and the highest estimate coming in at $0.84. Ingevity posted earnings of $0.45 per share in the same quarter last year, which indicates a positive year over year growth rate of 73.3%. The business is expected to report its next quarterly earnings results after the market closes on Tuesday, February 19th.

On average, analysts expect that Ingevity will report full year earnings of $3.85 per share for the current year, with EPS estimates ranging from $3.80 to $3.90. For the next year, analysts expect that the firm will report earnings of $4.67 per share, with EPS estimates ranging from $4.52 to $4.90. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that follow Ingevity.

Ingevity (NYSE:NGVT) last released its earnings results on Wednesday, October 24th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.12. The company had revenue of $311.20 million during the quarter, compared to the consensus estimate of $305.50 million. Ingevity had a return on equity of 47.45% and a net margin of 15.53%.

Several equities analysts have weighed in on NGVT shares. Stifel Nicolaus started coverage on Ingevity in a research report on Monday, December 10th. They issued a “hold” rating and a $84.00 target price for the company. Zacks Investment Research raised Ingevity from a “hold” rating to a “buy” rating and set a $106.00 price objective for the company in a research report on Thursday, December 6th. Berenberg Bank downgraded Ingevity from a “buy” rating to a “hold” rating and set a $110.00 price objective for the company. in a research report on Tuesday, October 2nd. Loop Capital set a $95.00 price objective on Ingevity and gave the stock a “hold” rating in a research report on Thursday, December 13th. Finally, Jefferies Financial Group set a $68.00 price objective on Ingevity and gave the stock a “buy” rating in a research report on Thursday, December 20th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $95.33.

NYSE NGVT traded up $3.13 during trading on Tuesday, hitting $92.78. The stock had a trading volume of 212,710 shares, compared to its average volume of 191,805. The company has a market cap of $3.89 billion, a P/E ratio of 35.96, a P/E/G ratio of 1.65 and a beta of 1.62. The company has a debt-to-equity ratio of 2.31, a current ratio of 2.34 and a quick ratio of 1.26. Ingevity has a twelve month low of $66.57 and a twelve month high of $106.59.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Advisors Preferred LLC acquired a new position in Ingevity in the third quarter valued at approximately $120,000. Harvest Fund Management Co. Ltd acquired a new position in Ingevity in the third quarter valued at approximately $134,000. Signaturefd LLC boosted its holdings in Ingevity by 211.9% in the third quarter. Signaturefd LLC now owns 1,472 shares of the company’s stock valued at $150,000 after purchasing an additional 1,000 shares in the last quarter. Ibex Investors LLC acquired a new position in Ingevity in the third quarter valued at approximately $201,000. Finally, Janney Montgomery Scott LLC acquired a new position in Ingevity in the third quarter valued at approximately $204,000. 92.84% of the stock is owned by hedge funds and other institutional investors.

Ingevity Company Profile

Ingevity Corporation manufactures and sells specialty chemicals and carbon materials in the United States and internationally. The company operates through two segments, Performance Materials and Performance Chemicals. The Performance Materials segment engineers, manufactures, and sells wood-based chemically activated carbon products primarily for gasoline vapor emission control systems.

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Earnings History and Estimates for Ingevity (NYSE:NGVT)

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