Zacks: Analysts Anticipate Ingevity Corp (NYSE:NGVT) Will Announce Earnings of $1.35 Per Share

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Wall Street analysts expect Ingevity Corp (NYSE:NGVT) to report earnings per share (EPS) of $1.35 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Ingevity’s earnings, with estimates ranging from $1.27 to $1.40. Ingevity posted earnings per share of $1.12 in the same quarter last year, which would indicate a positive year over year growth rate of 20.5%. The company is scheduled to report its next earnings results after the market closes on Wednesday, July 24th.

On average, analysts expect that Ingevity will report full-year earnings of $4.86 per share for the current year, with EPS estimates ranging from $4.80 to $4.95. For the next financial year, analysts forecast that the firm will report earnings of $5.84 per share, with EPS estimates ranging from $5.35 to $6.62. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Ingevity.

Ingevity (NYSE:NGVT) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.02. Ingevity had a net margin of 13.70% and a return on equity of 53.81%. The company had revenue of $276.80 million during the quarter, compared to analyst estimates of $288.07 million. During the same period in the previous year, the business earned $0.79 EPS. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis.

A number of equities analysts recently weighed in on the stock. BMO Capital Markets decreased their price objective on shares of Comerica to $78.00 and set a “market perform” rating for the company in a report on Thursday. Jefferies Financial Group decreased their price objective on shares of Boeing from $448.00 to $420.00 in a report on Friday. Berenberg Bank restated a “buy” rating and issued a GBX 3,050 ($39.85) price objective on shares of Cranswick in a report on Tuesday, May 28th. Zacks Investment Research lowered shares of Farmers & Merchants Bancorp, Inc. (OH) from a “hold” rating to a “strong sell” rating in a report on Thursday, May 9th. Finally, ValuEngine upgraded shares of Yirendai from a “strong sell” rating to a “sell” rating in a report on Friday, May 3rd. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Ingevity presently has a consensus rating of “Buy” and an average target price of $107.81.

A number of institutional investors and hedge funds have recently made changes to their positions in NGVT. Fruth Investment Management boosted its holdings in shares of Ingevity by 5.2% during the 2nd quarter. Fruth Investment Management now owns 8,922 shares of the company’s stock valued at $938,000 after purchasing an additional 441 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Ingevity by 5.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 12,490 shares of the company’s stock valued at $1,314,000 after acquiring an additional 600 shares during the last quarter. Copper Rock Capital Partners LLC lifted its holdings in shares of Ingevity by 29.9% in the 2nd quarter. Copper Rock Capital Partners LLC now owns 298,968 shares of the company’s stock valued at $31,442,000 after acquiring an additional 68,896 shares during the last quarter. Retirement Systems of Alabama lifted its holdings in shares of Ingevity by 0.5% in the 2nd quarter. Retirement Systems of Alabama now owns 54,427 shares of the company’s stock valued at $5,724,000 after acquiring an additional 249 shares during the last quarter. Finally, WINTON GROUP Ltd lifted its holdings in shares of Ingevity by 2.0% in the 2nd quarter. WINTON GROUP Ltd now owns 8,532 shares of the company’s stock valued at $897,000 after acquiring an additional 164 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

NYSE NGVT traded down $0.55 during mid-day trading on Wednesday, reaching $100.68. The stock had a trading volume of 8,455 shares, compared to its average volume of 220,952. Ingevity has a 1 year low of $74.98 and a 1 year high of $120.41. The firm has a market cap of $4.24 billion, a PE ratio of 24.27, a PEG ratio of 1.73 and a beta of 1.97. The business’s fifty day moving average price is $97.09. The company has a current ratio of 2.29, a quick ratio of 1.14 and a debt-to-equity ratio of 4.03.

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 hardwood-based and chemically activated carbon products primarily for use in gasoline vapor emission control systems in cars, trucks, motorcycles, and boats.

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