Ecolab (NYSE:ECL) Issues FY 2024 Earnings Guidance

Ecolab (NYSE:ECL) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 6.400-6.700 for the period, compared to the consensus estimate of 6.390. The company issued revenue guidance of -. Ecolab also updated its FY24 guidance to $6.40-6.70 EPS.

Ecolab Stock Up 0.3 %

NYSE ECL opened at $221.67 on Tuesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.95 and a current ratio of 1.30. The company has a market cap of $63.38 billion, a P/E ratio of 46.28, a P/E/G ratio of 2.58 and a beta of 1.10. The business has a fifty day moving average price of $224.02 and a 200 day moving average price of $201.77. Ecolab has a one year low of $156.72 and a one year high of $231.86.

Ecolab (NYSE:ECL) last announced its quarterly earnings data on Tuesday, February 13th. The basic materials company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.01. The business had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Ecolab had a return on equity of 19.36% and a net margin of 8.96%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the firm earned $1.27 earnings per share. Research analysts anticipate that Ecolab will post 6.42 EPS for the current fiscal year.

Ecolab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Tuesday, March 19th were given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend was Monday, March 18th. Ecolab’s dividend payout ratio (DPR) is 47.60%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ECL shares. Barclays upgraded Ecolab from an equal weight rating to an overweight rating and boosted their price objective for the company from $225.00 to $260.00 in a research note on Wednesday, February 28th. Bank of America upgraded shares of Ecolab from an underperform rating to a neutral rating and lifted their price objective for the company from $185.00 to $216.00 in a research report on Tuesday, January 16th. Mizuho upgraded shares of Ecolab from a neutral rating to a buy rating and upped their price objective for the stock from $216.00 to $260.00 in a research report on Friday, April 12th. Robert W. Baird lifted their target price on shares of Ecolab from $184.00 to $232.00 and gave the company a neutral rating in a report on Wednesday, February 14th. Finally, Wolfe Research initiated coverage on shares of Ecolab in a report on Friday, March 1st. They set a peer perform rating for the company. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and an average price target of $230.47.

About Ecolab

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.