Johnson Matthey (LON:JMAT) Issues Quarterly Earnings Results

Johnson Matthey (LON:JMAT – Get Free Report) announced its quarterly earnings data on Thursday. The company reported GBX 128.50 EPS for the quarter, Digital Look Earnings reports. Johnson Matthey had a negative net margin of 1.13% and a negative return on equity of 5.87%. The firm had revenue of GBX 1,257.30 billion during the quarter.

Here are the key takeaways from Johnson Matthey’s conference call:

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• Johnson Matthey reported 6% underlying growth in line with upgraded guidance, with underlying operating profit up 14% and free cash flow rising to GBP 168 million, more than 160% higher year on year.
• Clean Air margin improved sharply to 14.5%, and management said it is on track to reach 16%-18% margins by 2027/2028 through cost savings, footprint consolidation, and better commercial execution.
• Hydrogen Technologies reached run-rate breakeven in the fourth quarter, but the company also took impairments after recalibrating growth expectations amid slower fuel cell and electrolyser markets.
• PGM Services was hit by a GBP 48 million operational metal loss at the U.S. refinery, and management said higher loss provisions and refinery transition costs will continue to weigh on earnings near term.
• The announced Cormetech acquisition expands JM into stationary emission control for data centers and distributed power, is expected to be earnings accretive from year one, and comes with a visible pipeline and around GBP 20 million of expected run-rate synergies by 2030.

Johnson Matthey Stock Down 1.4%

JMAT stock opened at GBX 2,148 on Thursday. The company has a current ratio of 1.65, a quick ratio of 0.76 and a debt-to-equity ratio of 71.01. The company’s 50-day moving average price is GBX 2,020.86 and its 200 day moving average price is GBX 2,107.21. Johnson Matthey has a 52 week low of GBX 1,660 and a 52 week high of GBX 2,434. The company has a market cap of £3.60 billion, a P/E ratio of -32.59, a P/E/G ratio of 49,242.50 and a beta of 0.91.

Insider Transactions at Johnson Matthey

In other news, insider Liam Condon purchased 14 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were acquired at an average price of GBX 1,941 per share, for a total transaction of £271.74. Also, insider Alastair Judge purchased 14 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was purchased at an average price of GBX 2,022 per share, for a total transaction of £283.08. Over the last ninety days, insiders acquired 72 shares of company stock valued at $146,198. 0.51% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

JMAT has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on Johnson Matthey from GBX 1,922 to GBX 2,120 and gave the stock a “buy” rating in a research report on Tuesday, April 7th. UBS Group reissued a “neutral” rating and issued a GBX 2,200 price target on shares of Johnson Matthey in a report on Friday, May 22nd. Finally, Berenberg Bank decreased their price target on Johnson Matthey from GBX 2,250 to GBX 2,100 and set a “buy” rating on the stock in a research note on Monday, March 23rd. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of GBX 2,218.33.

Read Our Latest Research Report on JMAT

Johnson Matthey Company Profile

(Get Free Report)

Johnson Matthey is a global leader in science that enables a cleaner and healthier world. With over 200 years of sustained commitment to innovation and technological breakthroughs, they improve the function, performance and safety of their customers’ products. Their science has a global impact in areas such as low emission transport, pharmaceuticals, chemical processing and making the most efficient use of the planet’s natural resources. Today more than 13,000 Johnson Matthey professionals collaborate with their network of customers and partners to make a real difference to the world around us.

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