Ingevity Corp (NYSE:NGVT) Expected to Announce Earnings of $1.11 Per Share

Wall Street brokerages expect that Ingevity Corp (NYSE:NGVT) will announce earnings per share of $1.11 for the current quarter, Zacks reports. Three analysts have issued estimates for Ingevity’s earnings, with the highest EPS estimate coming in at $1.21 and the lowest estimate coming in at $1.03. Ingevity posted earnings per share of $0.99 during the same quarter last year, which indicates a positive year-over-year growth rate of 12.1%. The company is expected to announce its next quarterly earnings report on Wednesday, May 6th.

According to Zacks, analysts expect that Ingevity will report full-year earnings of $5.31 per share for the current year, with EPS estimates ranging from $5.05 to $5.93. For the next fiscal year, analysts anticipate that the company will post earnings of $5.96 per share, with EPS estimates ranging from $5.45 to $6.83. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Ingevity.

Ingevity (NYSE:NGVT) last issued its quarterly earnings data on Monday, February 3rd. The company reported $1.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.07. The business had revenue of $303.40 million for the quarter, compared to the consensus estimate of $305.09 million. Ingevity had a net margin of 14.21% and a return on equity of 51.91%. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.07 EPS.

NGVT has been the topic of a number of research analyst reports. SunTrust Banks reduced their price objective on shares of Ingevity to $120.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. They noted that the move was a valuation call. ValuEngine raised shares of Ingevity from a “sell” rating to a “hold” rating in a research report on Saturday, December 21st. Loop Capital raised shares of Ingevity from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a research report on Friday, January 24th. Wells Fargo & Co reduced their target price on shares of Ingevity from $100.00 to $83.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $111.00 target price on shares of Ingevity in a research report on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $108.67.

In other Ingevity news, CFO John C. Fortson bought 2,290 shares of Ingevity stock in a transaction dated Thursday, February 6th. The shares were purchased at an average cost of $65.50 per share, with a total value of $149,995.00. Following the transaction, the chief financial officer now directly owns 41,910 shares of the company’s stock, valued at $2,745,105. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO D Michael Wilson bought 7,500 shares of Ingevity stock in a transaction dated Thursday, February 6th. The stock was acquired at an average cost of $65.12 per share, for a total transaction of $488,400.00. The disclosure for this purchase can be found here. 0.60% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Ingevity by 1.0% during the second quarter. BlackRock Inc. now owns 4,799,123 shares of the company’s stock worth $504,725,000 after buying an additional 48,589 shares during the period. Macquarie Group Ltd. increased its position in shares of Ingevity by 24.5% during the second quarter. Macquarie Group Ltd. now owns 34,379 shares of the company’s stock worth $3,616,000 after buying an additional 6,775 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of Ingevity during the third quarter worth $631,000. Valeo Financial Advisors LLC increased its position in shares of Ingevity by 13.4% during the third quarter. Valeo Financial Advisors LLC now owns 1,691 shares of the company’s stock worth $143,000 after buying an additional 200 shares during the period. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Ingevity during the third quarter worth $452,000. 91.55% of the stock is currently owned by institutional investors.

Ingevity stock traded up $0.54 during mid-day trading on Friday, reaching $66.84. 351,700 shares of the company traded hands, compared to its average volume of 474,068. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.39 and a quick ratio of 1.38. The firm’s 50 day moving average price is $76.47 and its 200 day moving average price is $83.51. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of 15.40, a P/E/G ratio of 1.24 and a beta of 2.11. Ingevity has a 52-week low of $62.53 and a 52-week high of $120.41.

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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