Koppers (NYSE:KOP) Releases FY24 Earnings Guidance

Koppers (NYSE:KOP) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $4.10-4.60 for the period, compared to the consensus estimate of $4.42. The company issued revenue guidance of approximately $2.15 billion, compared to the consensus revenue estimate of $2.24 billion. Koppers also updated its FY 2024 guidance to 4.100-4.600 EPS.

Analyst Upgrades and Downgrades

Separately, Barrington Research reiterated an outperform rating and issued a $64.00 price target on shares of Koppers in a research note on Monday, August 5th.

Koppers Stock Performance

KOP stock traded down $0.61 during trading hours on Friday, reaching $34.95. The stock had a trading volume of 304,872 shares, compared to its average volume of 148,936. The stock has a market capitalization of $740.94 million, a PE ratio of 9.85 and a beta of 1.85. The company has a debt-to-equity ratio of 1.70, a current ratio of 2.29 and a quick ratio of 1.00. The stock has a 50-day simple moving average of $38.43 and a 200 day simple moving average of $46.60. Koppers has a fifty-two week low of $33.80 and a fifty-two week high of $58.23.

Koppers (NYSE:KOP) last posted its earnings results on Thursday, August 8th. The specialty chemicals company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.04. The company had revenue of $563.20 million during the quarter, compared to analysts’ expectations of $589.17 million. Koppers had a net margin of 3.59% and a return on equity of 17.19%. Koppers’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.26 EPS. Analysts predict that Koppers will post 4.51 EPS for the current fiscal year.

Koppers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date is Friday, August 30th. Koppers’s dividend payout ratio is presently 7.89%.

Insider Transactions at Koppers

In related news, CEO M Leroy Ball sold 2,500 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $42.45, for a total transaction of $106,125.00. Following the transaction, the chief executive officer now directly owns 321,008 shares of the company’s stock, valued at $13,626,789.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders sold 7,500 shares of company stock worth $319,850. 6.55% of the stock is owned by insiders.

About Koppers

Koppers Holdings Inc provides treated wood products, wood preservation chemicals, and carbon compounds in the United States, Australasia, Europe, and internationally. The company operates through Railroad and Utility Products and Services (RUPS), Performance Chemicals (PC), and Carbon Materials and Chemicals (CMC) segments.