Ingevity (NGVT) Scheduled to Post Quarterly Earnings on Wednesday

Ingevity (NYSE:NGVT) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, May 1st. Analysts expect the company to announce earnings of $0.06 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 results on Wednesday, February 21st. The company reported $0.21 EPS for the quarter, topping the consensus estimate of ($0.13) by $0.34. Ingevity had a negative net margin of 0.32% and a positive return on equity of 20.75%. The company had revenue of $371.70 million during the quarter, compared to analysts’ expectations of $336.74 million. During the same quarter in the previous year, the company earned $0.57 EPS. Ingevity’s revenue was down 3.1% on a year-over-year basis. On average, analysts expect Ingevity to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Ingevity Trading Up 2.2 %

Shares of NYSE:NGVT opened at $48.90 on Wednesday. Ingevity has a one year low of $36.66 and a one year high of $72.76. The company has a 50 day moving average of $46.23 and a 200-day moving average of $43.61. The company has a current ratio of 1.81, a quick ratio of 0.96 and a debt-to-equity ratio of 2.19.

Wall Street Analysts Forecast Growth

NGVT has been the subject of several analyst reports. Jefferies Financial Group upgraded shares of Ingevity from a “hold” rating to a “buy” rating and lifted their price target for the stock from $52.00 to $62.00 in a research report on Monday. Wells Fargo & Company boosted their price objective on shares of Ingevity from $43.00 to $50.00 and gave the company an “equal weight” rating in a report on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $51.40.

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.