Ecovyst (NYSE:ECVT) Releases 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.

Analyst Ratings Changes

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

Ecovyst Stock Up 14.4 %

Shares of ECVT stock traded up $0.96 during trading hours on Friday, reaching $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 business’s fifty day moving average is $6.65 and its two-hundred day moving average is $8.12. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.72 and a quick ratio of 2.18. The firm has a market capitalization of $887.50 million, a P/E ratio of 16.57, a P/E/G ratio of 1.19 and a beta of 1.01.

Ecovyst (NYSE:ECVT) last posted its 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). The business had revenue of $182.80 million during the quarter, compared to analysts’ expectations of $189.79 million. Ecovyst had a net margin of 7.74% and a return on equity of 7.11%. The business’s quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the company earned $0.26 EPS. As a group, research analysts expect that Ecovyst will post 0.46 EPS for the current fiscal year.

Insider Transactions at Ecovyst

In related news, insider Joseph S. Koscinski acquired 4,807 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was bought at an average price of $6.26 per share, for a total transaction of $30,091.82. Following the completion of the purchase, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Ecovyst news, insider Paul Whittleston purchased 7,800 shares of Ecovyst 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 directly owns 57,542 shares in the company, valued at $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 accessible through the SEC website. Also, insider Joseph S. Koscinski purchased 4,807 shares of Ecovyst stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average price of $6.26 per share, with a total value of $30,091.82. Following the transaction, the insider now owns 544,609 shares in the company, valued at $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. Insiders own 1.59% of the company’s stock.

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.