Ecovyst (NYSE:ECVT) Issues FY 2024 Earnings Guidance

Ecovyst (NYSE:ECVT) updated its FY 2024 earnings guidance on Thursday. 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 Upgrades and Downgrades

Several research firms recently commented on ECVT. KeyCorp decreased their price target on shares of Ecovyst from $13.00 to $10.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Citigroup lowered their price target on shares of Ecovyst from $13.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, July 12th. Finally, BWS Financial reduced their price objective on Ecovyst from $18.00 to $12.00 and set a “buy” rating for the company in a research report on Monday, August 5th.

Ecovyst Stock Performance

Shares of ECVT opened at $6.37 on Thursday. The firm has a market cap of $741.89 million, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 1.09 and a beta of 1.01. The company’s fifty day moving average is $6.63 and its 200-day moving average is $8.16. The company has a quick ratio of 2.18, a current ratio of 2.72 and a debt-to-equity ratio of 1.19. Ecovyst has a 12 month low of $6.02 and a 12 month high of $11.35.

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). Ecovyst had a return on equity of 7.88% and a net margin of 8.14%. The business had revenue of $182.80 million for the quarter, compared to analyst estimates of $189.79 million. During the same period in the previous year, the company earned $0.26 earnings per share. The company’s quarterly revenue was down .7% compared to the same quarter last year. Equities analysts expect that Ecovyst will post 0.46 EPS for the current fiscal year.

Insider Activity

In related news, insider Paul Whittleston purchased 7,800 shares of the stock in a transaction on Wednesday, August 7th. The shares were 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 in the company, valued at approximately $374,023. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Paul Whittleston purchased 7,800 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was bought at an average cost 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 approximately $374,023. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph S. Koscinski purchased 4,807 shares of the stock in a transaction dated Monday, August 5th. The stock was acquired at an average cost of $6.26 per share, for a total transaction of $30,091.82. Following the completion of the transaction, the insider now owns 544,609 shares of the company’s stock, valued at $3,409,252.34. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.59% of the stock is currently owned by insiders.

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.