Ecolab (NYSE:ECL) Issues FY24 Earnings Guidance

Ecolab (NYSE:ECL) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $6.40-6.70 for the period, compared to the consensus EPS estimate of $6.41. Ecolab also updated its FY 2024 guidance to 6.400-6.700 EPS.

Analyst Ratings Changes

A number of brokerages have issued reports on ECL. Citigroup raised their target price on Ecolab from $256.00 to $257.00 and gave the stock a neutral rating in a report on Wednesday. Robert W. Baird raised their target price on Ecolab from $232.00 to $243.00 and gave the stock a neutral rating in a report on Wednesday. Seaport Res Ptn lowered Ecolab from a buy rating to a neutral rating in a research report on Monday, January 8th. Piper Sandler assumed coverage on Ecolab in a research report on Wednesday, April 3rd. They set an overweight rating and a $260.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price target on Ecolab from $220.00 to $225.00 and gave the stock a neutral rating in a research report on Wednesday. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Ecolab currently has an average rating of Hold and a consensus price target of $233.65.

Ecolab Stock Up 0.7 %

ECL traded up $1.59 on Thursday, hitting $226.57. 413,578 shares of the company were exchanged, compared to its average volume of 1,205,709. The stock’s fifty day moving average is $224.37 and its 200-day moving average is $202.37. Ecolab has a 12 month low of $156.72 and a 12 month high of $231.86. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.95 and a current ratio of 1.41. The company has a market cap of $64.78 billion, a PE ratio of 41.66, a PEG ratio of 2.61 and a beta of 1.08.

Ecolab (NYSE:ECL) last announced its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. Ecolab had a return on equity of 20.56% and a net margin of 10.01%. The company had revenue of $3.75 billion for the quarter, compared to analysts’ expectations of $3.74 billion. During the same quarter in the prior year, the business posted $0.88 EPS. The business’s revenue was up 5.0% compared to the same quarter last year. Equities research analysts predict that Ecolab will post 6.49 EPS for the current fiscal year.

Ecolab Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, June 18th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 1.01%. Ecolab’s dividend payout ratio is presently 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.