Element Solutions (NYSE:ESI) Releases FY 2024 Earnings Guidance

Element Solutions (NYSE:ESIGet Free Report) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 1.400-1.460 for the period, compared to the consensus estimate of 1.390. The company issued revenue guidance of -. Element Solutions also updated its FY24 guidance to $1.40-1.46 EPS.

Element Solutions Stock Performance

ESI stock traded up $0.09 during midday trading on Tuesday, reaching $23.73. 789,448 shares of the company’s stock traded hands, compared to its average volume of 1,321,133. The firm has a market capitalization of $5.74 billion, a PE ratio of 43.93, a price-to-earnings-growth ratio of 1.85 and a beta of 1.29. Element Solutions has a 52 week low of $17.57 and a 52 week high of $25.81. The company has a 50-day moving average price of $24.05 and a two-hundred day moving average price of $23.29. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.69 and a current ratio of 3.63.

Element Solutions (NYSE:ESIGet Free Report) last released its quarterly earnings results on Monday, April 29th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.02. The firm had revenue of $575.00 million for the quarter, compared to analysts’ expectations of $588.17 million. Element Solutions had a net margin of 5.62% and a return on equity of 13.96%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.30 earnings per share. As a group, equities analysts anticipate that Element Solutions will post 1.38 EPS for the current year.

Element Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.32 dividend on an annualized basis and a yield of 1.35%. Element Solutions’s dividend payout ratio is presently 59.26%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Mizuho upped their price target on shares of Element Solutions from $26.00 to $28.00 and gave the company a buy rating in a research report on Tuesday, April 30th. TheStreet upgraded shares of Element Solutions from a c+ rating to a b rating in a research report on Tuesday, February 20th. The Goldman Sachs Group upped their price target on shares of Element Solutions from $22.00 to $26.00 and gave the company a neutral rating in a research report on Tuesday, March 5th. Wolfe Research assumed coverage on shares of Element Solutions in a research report on Friday, March 1st. They set a peer perform rating for the company. Finally, Barclays upped their price target on shares of Element Solutions from $25.00 to $26.00 and gave the company an overweight rating in a research report on Monday, February 26th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Element Solutions has a consensus rating of Moderate Buy and an average price target of $26.00.

Read Our Latest Analysis on Element Solutions

About Element Solutions

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Element Solutions Inc operates as a specialty chemicals company in the United States, China, and internationally. The company operates in two segments, Electronics, and Industrial & Specialty. The Electronics segment researches, formulates, and sells specialty chemicals and materials for various types of electronics hardware products.

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Earnings History and Estimates for Element Solutions (NYSE:ESI)

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