A Look Ahead: Ingevity's Earnings Forecast

Ingevity (NYSE:NGVT) is preparing to release its quarterly earnings on Tuesday, 2024-10-29. Here's a brief overview of what investors should keep in mind before the announcement.

Analysts expect Ingevity to report an earnings per share (EPS) of $0.90.

Ingevity bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

Historical Earnings Performance

In the previous earnings release, the company missed EPS by $0.04, leading to a 7.08% drop in the share price the following trading session.

Here's a look at Ingevity's past performance and the resulting price change:

Quarter

Q2 2024

Q1 2024

Q4 2023

Q3 2023

EPS Estimate

1.05

0.32

-0.19

1.21

EPS Actual

1.01

0.52

0.21

1.21

Price Change %

-7.000000000000001%

6.0%

5.0%

8.0%

Tracking Ingevity's Stock Performance

Shares of Ingevity were trading at $33.65 as of October 25. Over the last 52-week period, shares are down 12.95%. Given that these returns are generally negative, long-term shareholders are likely bearish going into this earnings release.

Insights Shared by Analysts on Ingevity

Understanding market sentiments and expectations within the industry is crucial for investors. This analysis delves into the latest insights on Ingevity.

A total of 4 analyst ratings have been received for Ingevity, with the consensus rating being Neutral. The average one-year price target stands at $43.0, suggesting a potential 27.79% upside.

Understanding Analyst Ratings Among Peers

In this analysis, ...