Brokerages Set Element Solutions Inc (NYSE:ESI) Price Target at $29.40

Element Solutions Inc (NYSE:ESI) has been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $29.40.

ESI has been the subject of several recent analyst reports. UBS Group raised their price objective on shares of Element Solutions from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, June 24th. StockNews.com raised Element Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday. BMO Capital Markets restated an “outperform” rating and issued a $30.00 price target (up previously from $28.00) on shares of Element Solutions in a report on Wednesday, June 12th. The Goldman Sachs Group lifted their price objective on Element Solutions from $26.00 to $29.00 and gave the stock a “neutral” rating in a report on Thursday, June 27th. Finally, Mizuho upped their target price on Element Solutions from $28.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, June 12th.

Element Solutions Price Performance

Shares of ESI opened at $25.71 on Tuesday. The firm has a market capitalization of $6.22 billion, a PE ratio of 47.61, a P/E/G ratio of 1.38 and a beta of 1.29. The stock’s 50 day moving average is $25.93 and its two-hundred day moving average is $25.29. Element Solutions has a twelve month low of $17.57 and a twelve month high of $28.68. The company has a current ratio of 3.50, a quick ratio of 2.60 and a debt-to-equity ratio of 0.80.

Element Solutions (NYSE:ESI) last announced its quarterly earnings data on Monday, July 29th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Element Solutions had a return on equity of 14.42% and a net margin of 8.24%. The firm had revenue of $613.00 million for the quarter, compared to analyst estimates of $606.95 million. During the same quarter in the prior year, the company posted $0.31 earnings per share. Element Solutions’s quarterly revenue was up 4.6% on a year-over-year basis. Research analysts anticipate that Element Solutions will post 1.45 earnings per share for the current year.

Element Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.24%. The ex-dividend date was Friday, August 30th. Element Solutions’s payout ratio is 59.26%.

Institutional Trading of Element Solutions

Several institutional investors and hedge funds have recently made changes to their positions in ESI. Signaturefd LLC raised its stake in Element Solutions by 13.8% in the 2nd quarter. Signaturefd LLC now owns 3,683 shares of the company’s stock valued at $100,000 after purchasing an additional 448 shares during the last quarter. Avantax Advisory Services Inc. raised its position in shares of Element Solutions by 4.0% in the fourth quarter. Avantax Advisory Services Inc. now owns 15,721 shares of the company’s stock valued at $364,000 after buying an additional 598 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Element Solutions by 51.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,002 shares of the company’s stock valued at $46,000 after buying an additional 684 shares during the period. QRG Capital Management Inc. boosted its position in Element Solutions by 7.5% during the second quarter. QRG Capital Management Inc. now owns 11,389 shares of the company’s stock worth $309,000 after acquiring an additional 798 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its stake in Element Solutions by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 98,981 shares of the company’s stock worth $2,290,000 after acquiring an additional 960 shares during the period. 92.32% of the stock is currently owned by hedge funds and other institutional investors.

Element Solutions Company Profile

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.