Koppers (NYSE:KOP) Updates FY24 Earnings Guidance

Koppers (NYSE:KOP) updated its FY24 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $4.10-4.60 for the period, compared to the consensus estimate of $4.67. The company issued revenue guidance of $2.25 billion, compared to the consensus revenue estimate of $2.25 billion. Koppers also updated its FY 2024 guidance to 4.100-4.600 EPS.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Singular Research upgraded shares of Koppers from a hold rating to a buy rating and set a $67.50 price objective on the stock in a report on Wednesday, March 13th. Barrington Research reaffirmed an outperform rating and set a $64.00 price target on shares of Koppers in a research note on Friday. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $60.50.

Koppers Stock Down 16.8 %

KOP stock traded down $8.88 during mid-day trading on Friday, reaching $44.03. 328,272 shares of the company traded hands, compared to its average volume of 128,553. The stock has a market cap of $925.86 million, a price-to-earnings ratio of 10.60 and a beta of 1.86. Koppers has a fifty-two week low of $28.45 and a fifty-two week high of $58.23. The firm’s 50 day moving average price is $53.99 and its 200 day moving average price is $48.65. The company has a quick ratio of 0.93, a current ratio of 2.14 and a debt-to-equity ratio of 1.66.

Koppers (NYSE:KOP) last announced its quarterly earnings results on Wednesday, February 28th. The specialty chemicals company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.05). The company had revenue of $513.20 million for the quarter, compared to the consensus estimate of $483.67 million. Koppers had a return on equity of 20.10% and a net margin of 4.14%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.09 EPS. As a group, equities research analysts predict that Koppers will post 4.57 EPS for the current fiscal year.

Koppers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 24th 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 0.64%. The ex-dividend date of this dividend is Thursday, May 23rd. Koppers’s payout ratio is 6.75%.

Insider Activity

In related news, COO James A. Sullivan sold 700 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $54.01, for a total transaction of $37,807.00. Following the sale, the chief operating officer now owns 111,192 shares of the company’s stock, valued at approximately $6,005,479.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Koppers news, COO James A. Sullivan sold 700 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $54.01, for a total transaction of $37,807.00. Following the sale, the chief operating officer now owns 111,192 shares in the company, valued at $6,005,479.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Leslie S. Hyde sold 22,403 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $53.91, for a total value of $1,207,745.73. Following the completion of the transaction, the senior vice president now owns 55,658 shares of the company’s stock, valued at $3,000,522.78. The disclosure for this sale can be found here. Insiders sold 31,591 shares of company stock valued at $1,700,094 in the last three months. Company insiders own 6.55% of the company’s stock.

Koppers Company Profile

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.