Element Solutions (NYSE:ESI) issued its quarterly earnings data on Thursday. The company reported $0.26 EPS for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.05, Briefing.com reports. The company had revenue of $464.70 million for the quarter, compared to analysts’ expectations of $469.25 million. Element Solutions had a positive return on equity of 5.76% and a negative net margin of 18.53%. The firm’s quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.05 earnings per share. Element Solutions updated its FY19 guidance to $0.84-0.87 EPS.
Shares of ESI traded up $0.32 during midday trading on Friday, reaching $11.73. 4,582,488 shares of the company were exchanged, compared to its average volume of 2,412,126. The stock has a 50-day moving average price of $10.40 and a 200-day moving average price of $10.17. The company has a market cap of $2.92 billion, a price-to-earnings ratio of 83.79 and a beta of 2.13. Element Solutions has a 1-year low of $8.55 and a 1-year high of $12.74. The company has a current ratio of 2.74, a quick ratio of 2.14 and a debt-to-equity ratio of 0.68.
In related news, COO Scot Benson acquired 10,000 shares of Element Solutions stock in a transaction on Tuesday, August 13th. The shares were bought at an average price of $9.37 per share, for a total transaction of $93,700.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 13.30% of the company’s stock.
A number of brokerages have commented on ESI. CIBC restated an “average” rating and set a $5.00 price objective on shares of Element Solutions in a research note on Tuesday, October 15th. SunTrust Banks reduced their price objective on Element Solutions from $11.00 to $10.00 and set a “hold” rating on the stock in a research note on Friday, October 11th. Zacks Investment Research cut Element Solutions from a “hold” rating to a “sell” rating and set a $10.00 price objective on the stock. in a research note on Thursday, October 10th. ValuEngine cut Element Solutions from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Finally, Barclays restated a “hold” rating and set a $11.00 price objective on shares of Element Solutions in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $8.42.
Element Solutions Company Profile
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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