Koppers (NYSE:KOP) Updates FY24 Earnings Guidance

Koppers (NYSE:KOP) updated its FY24 earnings guidance on Friday. The company provided earnings per share guidance of $4.25-4.45 for the period, compared to the consensus earnings per share estimate of $4.09. The company issued revenue guidance of $2.1 billion, compared to the consensus revenue estimate of $2.15 billion. Koppers also updated its FY 2024 guidance to 4.250-4.450 EPS.

Wall Street Analysts Forecast Growth

KOP has been the topic of a number of research analyst reports. Barrington Research reaffirmed an “outperform” rating and set a $64.00 target price on shares of Koppers in a report on Monday, November 4th. Singular Research upgraded shares of Koppers to a “strong-buy” rating in a report on Friday, September 20th.

Koppers Stock Performance

Shares of NYSE KOP opened at $37.22 on Friday. The stock’s fifty day simple moving average is $36.44 and its 200 day simple moving average is $39.14. The stock has a market capitalization of $763.75 million, a price-to-earnings ratio of 10.20 and a beta of 1.84. The company has a quick ratio of 1.12, a current ratio of 2.53 and a debt-to-equity ratio of 1.92. Koppers has a 52-week low of $33.80 and a 52-week high of $58.23.

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

Koppers Announces Dividend

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

Insiders Place Their Bets

In related news, VP Joseph P. Dowd sold 5,516 shares of the company’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 transaction, the vice president now directly owns 10,300 shares of the company’s stock, valued at approximately $388,516. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 6.55% of the company’s stock.

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.