Ecolab (NYSE:ECL) Issues Q2 2024 Earnings Guidance

Ecolab (NYSE:ECL) updated its second quarter 2024 earnings guidance on Tuesday. The company provided EPS guidance of 1.620-1.720 for the period, compared to the consensus EPS estimate of 1.540. The company issued revenue guidance of -. Ecolab also updated its FY 2024 guidance to 6.400-6.700 EPS.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ECL. Robert W. Baird lifted their price target on Ecolab from $232.00 to $243.00 and gave the company a neutral rating in a research report on Wednesday. Morgan Stanley lifted their price target on Ecolab from $230.00 to $240.00 and gave the company an equal weight rating in a research report on Wednesday, March 27th. Bank of America raised Ecolab from an underperform rating to a neutral rating and raised their price objective for the stock from $185.00 to $216.00 in a research note on Tuesday, January 16th. JPMorgan Chase & Co. raised their price objective on Ecolab from $220.00 to $225.00 and gave the stock a neutral rating in a research note on Wednesday. Finally, Raymond James raised their price objective on Ecolab from $230.00 to $250.00 and gave the stock an outperform rating in a research note on Wednesday, April 3rd. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Ecolab currently has an average rating of Hold and a consensus target price of $233.65.

Ecolab Stock Up 0.7 %

Shares of NYSE:ECL traded up $1.54 during midday trading on Thursday, hitting $226.52. 369,357 shares of the stock were exchanged, compared to its average volume of 1,204,688. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.95 and a current ratio of 1.41. Ecolab has a 52-week low of $156.72 and a 52-week high of $231.86. The business’s fifty day simple moving average is $224.37 and its two-hundred day simple moving average is $202.37. The company has a market capitalization of $64.76 billion, a PE ratio of 41.66, a P/E/G ratio of 2.61 and a beta of 1.08.

Ecolab (NYSE:ECL) last announced its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.01. Ecolab had a return on equity of 20.56% and a net margin of 10.01%. The business had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.74 billion. During the same period last year, the company earned $0.88 earnings per share. Ecolab’s quarterly revenue was up 5.0% compared to the same quarter last year. As a group, research analysts predict that Ecolab will post 6.49 earnings per share for the current fiscal year.

Ecolab Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Tuesday, June 18th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 1.01%. Ecolab’s dividend payout ratio is 42.22%.

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.