Ecovyst (NYSE:ECVT) Issues FY 2024 Earnings Guidance

Ecovyst (NYSE:ECVT) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.450-0.630 for the period, compared to the consensus 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.

Ecovyst Stock Performance

NYSE ECVT traded up $0.96 during trading hours on Friday, hitting $7.62. 3,431,087 shares of the stock were exchanged, compared to its average volume of 998,348. Ecovyst has a 12-month low of $6.02 and a 12-month high of $11.35. The stock has a 50-day moving average of $6.65 and a 200 day moving average of $8.12. The company has a market cap of $887.50 million, a price-to-earnings ratio of 16.57, a price-to-earnings-growth 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 (NYSE:ECVT) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). Ecovyst had a net margin of 7.74% and a return on equity of 7.11%. The business had revenue of $182.80 million during the quarter, compared to analyst estimates of $189.79 million. During the same period in the prior year, the business earned $0.26 earnings per share. The firm’s quarterly revenue was down .7% compared to the same quarter last year. As a group, equities research analysts forecast that Ecovyst will post 0.46 earnings per share for the current year.

Analyst Ratings Changes

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

Insiders Place Their Bets

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

Ecovyst Company Profile

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.