Ingevity (NGVT) Scheduled to Post Quarterly Earnings on Tuesday

Ingevity (NYSE:NGVT) is scheduled to 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.Parties that are interested in participating in the company’s conference call can do so using this link.

Ingevity (NYSE:NGVT) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.04). The business had revenue of $390.60 million during the quarter, compared to analysts’ expectations of $407.58 million. Ingevity had a positive return on equity of 19.59% and a negative net margin of 27.85%. The company’s revenue was down 18.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.41 earnings per share. On average, analysts expect Ingevity to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Ingevity Trading Up 4.5 %

Shares of Ingevity stock opened at $33.65 on Friday. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -2.83 and a beta of 1.62. Ingevity has a fifty-two week low of $30.90 and a fifty-two week high of $56.29. 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 50 day moving average of $36.67 and a 200 day moving average of $42.61.

Wall Street Analysts Forecast Growth

NGVT has been the subject of several research analyst reports. BMO Capital Markets lowered their price target on Ingevity from $42.00 to $40.00 and set a “market perform” rating for the company in a research report on Monday, September 30th. CJS Securities upgraded Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 price target for the company in a research report on Wednesday, August 7th. Oppenheimer reduced their price objective on Ingevity from $58.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. Finally, Wells Fargo & Company reduced their price objective on Ingevity from $45.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Ingevity currently has an average rating of “Moderate Buy” and an average target price 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.