Ecovyst (NYSE:ECVT) Issues FY 2024 Earnings Guidance

Ecovyst (NYSE:ECVT) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 0.450-0.630 for the period, compared to the consensus EPS estimate of 0.560. The company issued revenue guidance of $700.0 million-$740.0 million, compared to the consensus revenue estimate of $718.8 million.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ECVT shares. BWS Financial reiterated a “buy” rating and issued a $12.00 target price on shares of Ecovyst in a research note on Friday. Citigroup cut their price objective on Ecovyst from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, July 12th. KeyCorp decreased their target price on Ecovyst from $13.00 to $10.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Finally, BMO Capital Markets dropped their price target on Ecovyst from $11.00 to $9.00 and set an “outperform” rating on the stock in a research note on Friday.

Ecovyst Trading Up 14.4 %

Shares of NYSE:ECVT opened at $7.62 on Friday. The stock has a market cap of $887.47 million, a PE ratio of 16.57, a P/E/G ratio of 1.19 and a beta of 1.01. The company has a quick ratio of 2.18, a current ratio of 2.72 and a debt-to-equity ratio of 1.19. Ecovyst has a 12-month low of $6.02 and a 12-month high of $11.35. The business has a 50 day moving average of $6.65 and a 200-day moving average of $8.12.

Ecovyst (NYSE:ECVT) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01). The firm had revenue of $182.80 million during the quarter, compared to the consensus estimate of $189.79 million. Ecovyst had a net margin of 7.74% and a return on equity of 7.11%. The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.26 earnings per share. As a group, equities research analysts forecast that Ecovyst will post 0.46 earnings per share for the current year.

Insider Activity

In other Ecovyst news, insider Joseph S. Koscinski bought 4,807 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $6.26 per share, for a total transaction of $30,091.82. Following the transaction, the insider now directly owns 544,609 shares in the company, valued at approximately $3,409,252.34. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Paul Whittleston purchased 7,800 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were bought at an average price of $6.50 per share, for a total transaction of $50,700.00. Following the completion of the transaction, the insider now owns 57,542 shares of the company’s stock, valued at approximately $374,023. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, insider Joseph S. Koscinski purchased 4,807 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average cost of $6.26 per share, with a total value of $30,091.82. Following the purchase, the insider now owns 544,609 shares of the company’s stock, valued at $3,409,252.34. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.59% of the stock is currently owned by company insiders.

About Ecovyst

Ecovyst Inc offers specialty catalysts and services in the United States and internationally. The company operates in two segments, Ecoservices and Advanced Materials & Catalysts. The Ecoservices segment provides sulfuric acid recycling services and end-to-end logistics for production of alkylate for refineries; and virgin sulfuric acid for mining, water treatment, and industrial applications.