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 guidance of 0.450-0.630 for the period, compared to the consensus earnings per share 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 Price Performance

Shares of ECVT stock opened at $7.62 on Friday. The stock’s fifty day simple moving average is $6.65 and its 200 day simple moving average is $8.12. Ecovyst has a one year low of $6.02 and a one year high of $11.35. The firm has a market cap of $887.47 million, a price-to-earnings ratio of 16.57, a P/E/G ratio of 1.19 and a beta of 1.01. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.72 and a quick ratio of 2.18.

Ecovyst (NYSE:ECVT) last announced 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 for 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 company’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the prior year, the business earned $0.26 earnings per share. On average, analysts expect that Ecovyst will post 0.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, insider Paul Whittleston purchased 7,800 shares of Ecovyst stock in a transaction dated Wednesday, August 7th. The stock was bought at an average price of $6.50 per share, for a total transaction of $50,700.00. Following the completion of the acquisition, the insider now directly owns 57,542 shares of the company’s stock, valued at $374,023. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Joseph S. Koscinski bought 4,807 shares of the business’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 purchase, the insider now 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul Whittleston purchased 7,800 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were acquired at an average cost of $6.50 per share, with a total value of $50,700.00. Following the completion of the purchase, the insider now directly owns 57,542 shares in the company, valued at approximately $374,023. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.59% of the company’s stock.

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.