Element Solutions Inc (NYSE:ESI) was the recipient of a large decline in short interest during the month of June. As of June 30th, there was short interest totalling 17,072,200 shares, a decline of 8.4% from the May 30th total of 18,635,500 shares. Currently, 6.6% of the company’s stock are sold short. Based on an average trading volume of 2,630,000 shares, the days-to-cover ratio is presently 6.5 days.
A number of equities research analysts have recently commented on ESI shares. Raymond James reiterated a “buy” rating on shares of First Quantum Minerals in a research note on Monday, April 8th. Zacks Investment Research cut Guaranty Federal Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. Finally, Royal Bank of Canada set a $184.00 target price on Jazz Pharmaceuticals and gave the stock a “buy” rating in a research note on Wednesday, July 3rd.
In other Element Solutions news, Director Rakesh Sachdev sold 28,764 shares of Element Solutions stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $10.71, for a total transaction of $308,062.44. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Scot Benson acquired 20,000 shares of the business’s stock in a transaction on Monday, May 13th. The shares were purchased at an average cost of $10.50 per share, for a total transaction of $210,000.00. The disclosure for this purchase can be found here. 13.30% of the stock is owned by insiders.
Shares of NYSE ESI traded up $0.10 during mid-day trading on Monday, reaching $9.90. 1,282,986 shares of the company’s stock were exchanged, compared to its average volume of 2,672,998. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of 70.29 and a beta of 2.17. Element Solutions has a 52 week low of $9.26 and a 52 week high of $13.54. The company has a quick ratio of 1.75, a current ratio of 2.20 and a debt-to-equity ratio of 0.67. The stock has a 50-day moving average price of $10.13.
Element Solutions (NYSE:ESI) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.02. Element Solutions had a positive return on equity of 6.63% and a negative net margin of 13.82%. The business had revenue of $459.80 million for the quarter, compared to analysts’ expectations of $471.76 million. Element Solutions’s quarterly revenue was down 6.6% compared to the same quarter last year. On average, analysts expect that Element Solutions will post 0.84 earnings per share for the current fiscal year.
About Element Solutions
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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