Analysts Anticipate Ingevity Corp (NGVT) Will Announce Earnings of $1.04 Per Share

Analysts predict that Ingevity Corp (NYSE:NGVT) will announce $1.04 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Ingevity’s earnings. The lowest EPS estimate is $0.94 and the highest is $1.13. Ingevity posted earnings of $0.86 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 20.9%. The firm is expected to report its next earnings results on Wednesday, November 7th.

On average, analysts expect that Ingevity will report full-year earnings of $3.66 per share for the current year, with EPS estimates ranging from $3.40 to $3.90. For the next fiscal year, analysts expect that the business will report earnings of $4.67 per share, with EPS estimates ranging from $4.32 to $4.92. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Ingevity.

Ingevity (NYSE:NGVT) last issued its quarterly earnings results on Wednesday, July 25th. The company reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.13. Ingevity had a net margin of 14.72% and a return on equity of 46.65%. The company had revenue of $308.60 million during the quarter, compared to the consensus estimate of $305.14 million. During the same quarter in the prior year, the firm posted $0.78 EPS. The firm’s quarterly revenue was up 18.6% on a year-over-year basis.

NGVT has been the subject of a number of recent analyst reports. Loop Capital upped their price target on shares of Ingevity to $89.00 and gave the stock a “$90.05” rating in a report on Wednesday, July 18th. They noted that the move was a valuation call. TheStreet raised shares of Ingevity from a “c” rating to a “b-” rating in a report on Monday, April 30th. Berenberg Bank initiated coverage on shares of Ingevity in a report on Thursday, July 12th. They set a “buy” rating and a $100.00 price target for the company. SunTrust Banks upped their price target on shares of Ingevity from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Monday, June 25th. Finally, ValuEngine raised shares of Ingevity from a “hold” rating to a “buy” rating in a report on Saturday, June 16th. Ten equities research analysts have rated the stock with a buy rating, Ingevity currently has an average rating of “Buy” and an average price target of $99.33.

Shares of Ingevity stock traded down $1.96 on Monday, reaching $98.25. 117,800 shares of the stock were exchanged, compared to its average volume of 234,872. Ingevity has a one year low of $55.07 and a one year high of $101.67. The company has a current ratio of 2.58, a quick ratio of 1.48 and a debt-to-equity ratio of 2.09. The company has a market cap of $4.21 billion, a PE ratio of 38.08, a price-to-earnings-growth ratio of 2.28 and a beta of 1.30.

A number of hedge funds have recently added to or reduced their stakes in the stock. Greenwood Capital Associates LLC increased its position in Ingevity by 12.6% during the 2nd quarter. Greenwood Capital Associates LLC now owns 4,609 shares of the company’s stock worth $373,000 after purchasing an additional 516 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in Ingevity by 2.1% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 25,772 shares of the company’s stock worth $2,084,000 after purchasing an additional 530 shares in the last quarter. First Midwest Bank Trust Division increased its position in Ingevity by 13.0% during the 2nd quarter. First Midwest Bank Trust Division now owns 4,776 shares of the company’s stock worth $386,000 after purchasing an additional 551 shares in the last quarter. Alps Advisors Inc. increased its position in Ingevity by 4.5% during the 2nd quarter. Alps Advisors Inc. now owns 14,729 shares of the company’s stock worth $1,191,000 after purchasing an additional 629 shares in the last quarter. Finally, Raymond James & Associates increased its position in Ingevity by 2.1% during the 4th quarter. Raymond James & Associates now owns 33,116 shares of the company’s stock worth $2,334,000 after purchasing an additional 683 shares in the last quarter. Institutional investors and hedge funds own 89.44% of the company’s stock.

About Ingevity

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 wood-based chemically activated carbon products primarily for gasoline vapor emission control systems.

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