Ecolab (NYSE:ECL) Updates FY 2024 Earnings Guidance

by · The Markets Daily

Ecolab (NYSE:ECL – Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 6.600-6.700 for the period, compared to the consensus earnings per share estimate of 6.640. The company issued revenue guidance of -. Ecolab also updated its Q4 guidance to $1.75-1.85 EPS.

Ecolab Stock Down 2.7 %

NYSE ECL traded down $6.90 on Thursday, hitting $245.70. 1,987,222 shares of the stock were exchanged, compared to its average volume of 1,088,143. The company has a quick ratio of 1.10, a current ratio of 1.50 and a debt-to-equity ratio of 0.91. Ecolab has a fifty-two week low of $159.15 and a fifty-two week high of $262.61. The company has a market cap of $69.91 billion, a PE ratio of 42.38, a PEG ratio of 2.61 and a beta of 1.13. The company has a 50-day moving average price of $252.70 and a 200-day moving average price of $241.58.

Ecolab (NYSE:ECL – Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The basic materials company reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.01. Ecolab had a net margin of 10.95% and a return on equity of 21.65%. The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter in the previous year, the firm earned $1.24 EPS. The company’s revenue was up 3.5% compared to the same quarter last year. Sell-side analysts anticipate that Ecolab will post 6.65 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on ECL. Wells Fargo & Company reissued a “market perform” rating on shares of Ecolab in a research note on Friday, October 18th. Morgan Stanley increased their price objective on shares of Ecolab from $240.00 to $263.00 and gave the stock an “equal weight” rating in a report on Wednesday. Stifel Nicolaus upgraded shares of Ecolab from a “hold” rating to a “buy” rating and increased their price objective for the stock from $233.00 to $283.00 in a report on Monday, July 8th. Jefferies Financial Group upgraded shares of Ecolab from a “hold” rating to a “buy” rating and increased their price objective for the stock from $235.00 to $310.00 in a report on Friday, October 18th. Finally, Robert W. Baird raised their price target on shares of Ecolab from $271.00 to $279.00 and gave the company a “neutral” rating in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $277.20.

Get Our Latest Analysis on ECL

Insider Transactions at Ecolab

In other news, Director David Maclennan acquired 650 shares of the stock in a transaction dated Friday, August 2nd. The shares were acquired at an average cost of $240.41 per share, for a total transaction of $156,266.50. Following the completion of the transaction, the director now owns 17,967 shares in the company, valued at approximately $4,319,446.47. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director David Maclennan purchased 650 shares of the stock in a transaction on Friday, August 2nd. The shares were purchased at an average cost of $240.41 per share, for a total transaction of $156,266.50. Following the completion of the transaction, the director now directly owns 17,967 shares of the company’s stock, valued at approximately $4,319,446.47. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Victoria Reich sold 393 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $250.00, for a total value of $98,250.00. Following the completion of the sale, the director now owns 24,041 shares in the company, valued at $6,010,250. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Ecolab Company Profile

(Get Free Report)

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.

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