Element Solutions (NYSE:ESI) issued an update on its FY19 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $0.83-0.86 for the period, compared to the Thomson Reuters consensus estimate of $0.83. Element Solutions also updated its FY 2019 guidance to $0.83-0.86 EPS.
Shares of ESI stock traded up $0.45 during trading on Friday, hitting $9.77. The company had a trading volume of 2,341,590 shares, compared to its average volume of 1,654,620. The company has a quick ratio of 1.75, a current ratio of 2.20 and a debt-to-equity ratio of 0.67. The company has a market cap of $2.36 billion, a price-to-earnings ratio of 69.79 and a beta of 2.14. The stock’s 50-day simple moving average is $10.12. Element Solutions has a one year low of $9.26 and a one year high of $13.54.
Element Solutions (NYSE:ESI) last announced its quarterly earnings data on Friday, August 2nd. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.20 by $0.01. Element Solutions had a negative net margin of 13.82% and a positive return on equity of 6.63%. The business had revenue of $456.70 million during the quarter, compared to the consensus estimate of $468.94 million. Element Solutions’s quarterly revenue was down 9.0% on a year-over-year basis. On average, analysts predict that Element Solutions will post 0.84 EPS for the current year.
Several research analysts have commented on ESI shares. Raymond James restated an average rating and set a $6.50 price objective on shares of Element Solutions in a research report on Monday, April 8th. Zacks Investment Research downgraded shares of Element Solutions from a buy rating to a hold rating in a research report on Tuesday, April 23rd. Finally, Royal Bank of Canada started coverage on shares of Element Solutions in a research report on Wednesday, July 3rd. They set an outperform rating and a $8.00 price objective for the company.
In related news, Director Rakesh Sachdev sold 28,764 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $10.71, for a total value of $308,062.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Scot Benson acquired 20,000 shares of Element Solutions stock in a transaction that occurred on Monday, May 13th. The stock was acquired at an average cost of $10.50 per share, for a total transaction of $210,000.00. The disclosure for this purchase can be found here. Insiders own 13.30% of the company’s stock.
About Element Solutions
Element Solutions Inc produces and sells specialty chemical products worldwide. The company operates through two segments, Electronics and Industrial & Specialty. The Electronics segment researches, formulates, and delivers specialty chemicals and materials for various types of electronics hardware products.
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