Zacks: Brokerages Anticipate Ingevity Co. (NYSE:NGVT) to Post $1.07 EPS

Brokerages forecast that Ingevity Co. (NYSE:NGVT) will report earnings per share of $1.07 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Ingevity’s earnings, with the lowest EPS estimate coming in at $1.02 and the highest estimate coming in at $1.17. Ingevity reported earnings of $1.12 per share during the same quarter last year, which would suggest a negative year over year growth rate of 4.5%. The business is scheduled to report its next earnings results after the market closes on Wednesday, April 28th.

According to Zacks, analysts expect that Ingevity will report full year earnings of $5.08 per share for the current year, with EPS estimates ranging from $5.00 to $5.25. For the next fiscal year, analysts anticipate that the firm will post earnings of $5.74 per share, with EPS estimates ranging from $5.40 to $6.00. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Ingevity.

Ingevity (NYSE:NGVT) last released its quarterly earnings data on Tuesday, February 9th. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.56. The company had revenue of $325.60 million during the quarter, compared to analysts’ expectations of $282.24 million. Ingevity had a net margin of 15.05% and a return on equity of 35.71%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.46 EPS.

A number of research analysts have commented on NGVT shares. Oppenheimer raised their target price on shares of Ingevity from $75.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, February 11th. Loop Capital lowered shares of Ingevity from a “buy” rating to a “hold” rating in a report on Monday, February 8th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $68.17.

A number of large investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in Ingevity in the fourth quarter worth $39,388,000. Ardevora Asset Management LLP grew its stake in Ingevity by 80.4% during the 4th quarter. Ardevora Asset Management LLP now owns 818,477 shares of the company’s stock worth $61,983,000 after buying an additional 364,891 shares during the last quarter. JPMorgan Chase & Co. increased its position in Ingevity by 115.1% during the 4th quarter. JPMorgan Chase & Co. now owns 246,777 shares of the company’s stock valued at $18,689,000 after buying an additional 132,061 shares in the last quarter. Morgan Stanley raised its stake in Ingevity by 66.7% in the fourth quarter. Morgan Stanley now owns 286,896 shares of the company’s stock valued at $21,727,000 after buying an additional 114,831 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in Ingevity by 1.6% in the fourth quarter. BlackRock Inc. now owns 4,777,233 shares of the company’s stock worth $361,781,000 after acquiring an additional 75,286 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

Shares of Ingevity stock opened at $71.63 on Tuesday. The company has a current ratio of 3.36, a quick ratio of 2.22 and a debt-to-equity ratio of 2.07. The stock’s fifty day moving average price is $74.34 and its 200-day moving average price is $69.72. The firm has a market cap of $3.08 billion, a P/E ratio of 16.62 and a beta of 2.21. Ingevity has a 12 month low of $37.29 and a 12 month high of $79.68.

Ingevity Company Profile

Ingevity Corp. engages in the manufacture of specialty chemicals and carbon materials. It operates through the following segments: Performance Chemicals and Performance Materials. The Performance Materials segment consists of automotive technologies and process purifications product families. Automotive technologies produces automotive carbon products used in gasoline vapor emission control systems in cars, trucks, motorcycles and boats.

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Earnings History and Estimates for Ingevity (NYSE:NGVT)

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