BWS Financial Weighs in on Ecovyst Inc.’s Q1 2024 Earnings (NYSE:ECVT)

Ecovyst Inc. (NYSE:ECVT) – Equities researchers at BWS Financial lowered their Q1 2024 earnings per share (EPS) estimates for Ecovyst in a research report issued on Monday, March 25th. BWS Financial analyst H. Khorsand now expects that the company will post earnings per share of $0.03 for the quarter, down from their prior forecast of $0.06. The consensus estimate for Ecovyst’s current full-year earnings is $0.81 per share. BWS Financial also issued estimates for Ecovyst’s Q4 2024 earnings at $0.29 EPS and FY2024 earnings at $0.75 EPS.

Separately, Citigroup reduced their price target on Ecovyst from $12.00 to $11.50 and set a “buy” rating for the company in a report on Monday, March 4th.

Ecovyst Stock Performance

Shares of ECVT opened at $11.15 on Wednesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.07 and a quick ratio of 1.69. The firm has a 50-day moving average of $9.54 and a 200-day moving average of $9.56. The company has a market cap of $1.30 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 0.55 and a beta of 1.00. Ecovyst has a one year low of $8.26 and a one year high of $12.35.

Ecovyst (NYSE:ECVT) last released its earnings results on Wednesday, February 28th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). Ecovyst had a net margin of 10.30% and a return on equity of 11.08%. The firm had revenue of $172.80 million during the quarter, compared to the consensus estimate of $168.31 million. During the same period in the prior year, the business posted $0.23 earnings per share. Ecovyst’s quarterly revenue was down 5.5% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ECVT. Clear Street Markets LLC bought a new stake in Ecovyst in the 4th quarter valued at about $29,000. US Bancorp DE bought a new stake in shares of Ecovyst in the second quarter valued at approximately $38,000. Tower Research Capital LLC TRC grew its position in Ecovyst by 34.0% during the third quarter. Tower Research Capital LLC TRC now owns 4,793 shares of the company’s stock worth $47,000 after buying an additional 1,216 shares in the last quarter. State of Wyoming bought a new position in Ecovyst during the 4th quarter worth $52,000. Finally, Point72 Middle East FZE acquired a new position in Ecovyst in the 4th quarter valued at $64,000. 86.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Susan F. Ward sold 24,436 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $10.28, for a total value of $251,202.08. Following the transaction, the director now owns 67,587 shares in the company, valued at approximately $694,794.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.00% of the company’s stock.

About Ecovyst

Ecovyst Inc offers specialty catalysts and services in the United States and internationally. The company operates in two segments, Ecoservices and Advanced Materials & Catalysts. The Ecoservices segment provides sulfuric acid recycling services and end-to-end logistics for production of alkylate for refineries; and virgin sulfuric acid for mining, water treatment, and industrial applications.