Koppers (NYSE:KOP) Releases FY 2024 Earnings Guidance

Koppers (NYSE:KOP) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 4.250-4.450 for the period, compared to the consensus earnings per share estimate of 4.160. The company issued revenue guidance of $2.1 billion-$2.1 billion, compared to the consensus revenue estimate of $2.2 billion. Koppers also updated its FY24 guidance to $4.25-4.45 EPS.

Koppers Stock Performance

Shares of NYSE:KOP traded down $0.81 on Friday, reaching $37.22. 179,178 shares of the company’s stock were exchanged, compared to its average volume of 85,355. Koppers has a fifty-two week low of $33.80 and a fifty-two week high of $58.23. The business’s 50-day moving average is $36.44 and its two-hundred day moving average is $39.14. The company has a quick ratio of 1.12, a current ratio of 2.53 and a debt-to-equity ratio of 1.92. The firm has a market capitalization of $763.75 million, a price-to-earnings ratio of 10.20 and a beta of 1.84.

Koppers (NYSE:KOP) last released its quarterly earnings data on Friday, November 8th. The specialty chemicals company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.12. The firm had revenue of $554.30 million for the quarter, compared to analyst estimates of $571.80 million. Koppers had a net margin of 3.72% and a return on equity of 17.16%. Koppers’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.32 earnings per share. As a group, equities research analysts forecast that Koppers will post 4.05 EPS for the current year.

Koppers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.28 dividend on an annualized basis and a yield of 0.75%. Koppers’s payout ratio is currently 7.67%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on KOP. Singular Research raised shares of Koppers to a “strong-buy” rating in a report on Friday, September 20th. Barrington Research reiterated an “outperform” rating and issued a $64.00 price objective on shares of Koppers in a research report on Monday, November 4th.

Insider Activity at Koppers

In other Koppers news, VP Joseph P. Dowd sold 5,516 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $37.72, for a total transaction of $208,063.52. Following the completion of the transaction, the vice president now owns 10,300 shares in the company, valued at approximately $388,516. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.55% of the stock is owned by insiders.

Koppers Company Profile

Koppers Holdings Inc provides treated wood products, wood preservation chemicals, and carbon compounds in the United States, Australasia, Europe, and internationally. The company operates through Railroad and Utility Products and Services (RUPS), Performance Chemicals (PC), and Carbon Materials and Chemicals (CMC) segments.