Neenah Inc (NYSE:NP) Forecasted to Post Q2 2020 Earnings of ($0.13) Per Share

Neenah Inc (NYSE:NP) – Investment analysts at DA Davidson reduced their Q2 2020 EPS estimates for Neenah in a research report issued to clients and investors on Thursday, June 25th. DA Davidson analyst S. Chercover now forecasts that the basic materials company will earn ($0.13) per share for the quarter, down from their previous forecast of $0.21. DA Davidson currently has a “Buy” rating and a $62.00 price objective on the stock. DA Davidson also issued estimates for Neenah’s FY2020 earnings at $1.45 EPS and FY2021 earnings at $1.98 EPS.

Several other equities analysts also recently weighed in on NP. Zacks Investment Research downgraded Neenah from a “hold” rating to a “sell” rating in a research report on Tuesday, May 12th. Sidoti downgraded Neenah from a “buy” rating to a “neutral” rating and set a $55.00 target price on the stock. in a research report on Thursday, May 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $67.00.

NYSE NP opened at $48.79 on Monday. The company has a market capitalization of $780.64 million, a PE ratio of 13.82 and a beta of 1.41. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.90 and a current ratio of 3.08. The business’s fifty day moving average is $50.44 and its 200 day moving average is $55.80. Neenah has a fifty-two week low of $33.44 and a fifty-two week high of $77.55.

Neenah (NYSE:NP) last released its earnings results on Friday, May 8th. The basic materials company reported $1.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.20. The company had revenue of $233.60 million for the quarter. Neenah had a return on equity of 16.26% and a net margin of 6.43%. During the same quarter last year, the firm posted $0.69 earnings per share.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Friday, May 15th were issued a dividend of $0.47 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.88 dividend on an annualized basis and a yield of 3.85%. Neenah’s dividend payout ratio is presently 54.18%.

In other Neenah news, CFO Paul F. Desantis purchased 6,000 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were acquired at an average cost of $49.63 per share, with a total value of $297,780.00. Following the completion of the acquisition, the chief financial officer now directly owns 14,942 shares in the company, valued at $741,571.46. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.60% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of the business. First Trust Advisors LP increased its holdings in shares of Neenah by 154.0% in the first quarter. First Trust Advisors LP now owns 13,060 shares of the basic materials company’s stock worth $841,000 after purchasing an additional 7,918 shares during the last quarter. Swiss National Bank increased its holdings in shares of Neenah by 1.9% in the fourth quarter. Swiss National Bank now owns 32,300 shares of the basic materials company’s stock worth $2,275,000 after purchasing an additional 600 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Neenah by 13.9% in the fourth quarter. Victory Capital Management Inc. now owns 26,569 shares of the basic materials company’s stock worth $1,871,000 after purchasing an additional 3,251 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Neenah by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 168,894 shares of the basic materials company’s stock worth $11,896,000 after purchasing an additional 3,974 shares during the last quarter. Finally, Comerica Bank increased its holdings in shares of Neenah by 1.4% in the fourth quarter. Comerica Bank now owns 17,223 shares of the basic materials company’s stock worth $1,159,000 after purchasing an additional 231 shares during the last quarter. 90.48% of the stock is currently owned by institutional investors and hedge funds.

About Neenah

Neenah, Inc produces and sells technical products, and fine paper and packaging products worldwide. Its Technical Products segment offers filtration media for transportation, water, and other uses; saturated and unsaturated crepe, and flat paper tapes; and coated lightweight abrasive papers for automotive, construction, metal, and woodworking industries.

Further Reading: The limitations of an equal weight rating

Earnings History and Estimates for Neenah (NYSE:NP)

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