Ecolab (NYSE:ECL) Updates FY 2024 Earnings Guidance

Ecolab (NYSE:ECL) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 6.400-6.700 for the period, compared to the consensus earnings per share estimate of 6.390. The company issued revenue guidance of -. Ecolab also updated its FY24 guidance to $6.40-6.70 EPS.

Analyst Ratings Changes

Several brokerages recently issued reports on ECL. JPMorgan Chase & Co. raised their price target on Ecolab from $220.00 to $225.00 and gave the stock a neutral rating in a report on Wednesday. Robert W. Baird lifted their price target on Ecolab from $232.00 to $243.00 and gave the company a neutral rating in a report on Wednesday. Seaport Res Ptn cut Ecolab from a buy rating to a neutral rating in a research report on Monday, January 8th. Royal Bank of Canada lifted their price objective on Ecolab from $238.00 to $260.00 and gave the company an outperform rating in a research report on Wednesday. Finally, Citigroup lifted their price target on shares of Ecolab from $256.00 to $257.00 and gave the company a neutral rating in a research report on Wednesday. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $233.65.

Ecolab Price Performance

ECL stock traded up $1.54 during mid-day trading on Thursday, hitting $226.52. The stock had a trading volume of 369,357 shares, compared to its average volume of 1,204,688. The company has a current ratio of 1.41, a quick ratio of 0.95 and a debt-to-equity ratio of 0.92. Ecolab has a 52 week low of $156.72 and a 52 week high of $231.86. The firm has a market capitalization of $64.76 billion, a P/E ratio of 41.66, a P/E/G ratio of 2.61 and a beta of 1.08. The firm has a fifty day simple moving average of $224.37 and a 200 day simple moving average of $202.37.

Ecolab (NYSE:ECL) last announced its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.01. Ecolab had a net margin of 10.01% and a return on equity of 20.56%. The company had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.74 billion. During the same period in the previous year, the firm posted $0.88 EPS. The firm’s revenue was up 5.0% on a year-over-year basis. As a group, research analysts forecast that Ecolab will post 6.49 EPS for the current year.

Ecolab Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, June 18th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.01%. Ecolab’s dividend payout ratio (DPR) is currently 42.22%.

Ecolab Company Profile

Ecolab Inc provides water, hygiene, and infection prevention solutions and services in the United States and internationally. The company operates through three segments: Global Industrial; Global Institutional & Specialty; and Global Healthcare & Life Sciences. The Global Industrial segment offers water treatment and process applications, and cleaning and sanitizing solutions to manufacturing, food and beverage processing, transportation, chemical, metals and mining, power generation, pulp and paper, commercial laundry, petroleum, refining, and petrochemical industries.