Koppers (NYSE:KOP) Updates FY24 Earnings Guidance

Koppers (NYSE:KOP) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $4.10-4.60 for the period, compared to the consensus earnings per share 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 Ratings Changes

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

Koppers Trading Down 1.7 %

Shares of KOP stock traded down $0.61 during trading on Friday, hitting $34.95. 304,872 shares of the stock traded hands, compared to its average volume of 148,936. The firm has a market capitalization of $740.94 million, a P/E ratio of 9.85 and a beta of 1.85. Koppers has a 52-week low of $33.80 and a 52-week high of $58.23. 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 firm’s fifty day moving average price is $38.43 and its 200-day moving average price is $46.60.

Koppers (NYSE:KOP) last posted its earnings results on Thursday, August 8th. The specialty chemicals company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.04. The company had revenue of $563.20 million for 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 revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.26 earnings per share. As a group, research analysts forecast that Koppers will post 4.51 earnings per share for the current fiscal year.

Koppers Dividend Announcement

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

Insider Buying and Selling at Koppers

In other Koppers news, CEO M Leroy Ball sold 2,500 shares of Koppers stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $42.36, for a total value of $105,900.00. Following the transaction, the chief executive officer now directly owns 321,008 shares in the company, valued at approximately $13,597,898.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have sold 7,500 shares of company stock worth $319,850. 6.55% of the stock is owned by company insiders.

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.