Element Solutions (NYSE:ESI) Issues FY 2019 Earnings Guidance

Element Solutions (NYSE:ESI) updated its FY 2019 earnings guidance on Friday. The company provided EPS guidance of $0.83-0.86 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.83. Element Solutions also updated its FY19 guidance to $0.83-0.86 EPS.

Several brokerages have recently issued reports on ESI. Royal Bank of Canada began coverage on Element Solutions in a research report on Wednesday, July 3rd. They set an outperform rating and a $8.00 target price for the company. Raymond James reaffirmed an average rating and set a $6.50 target price on shares of Element Solutions in a research report on Monday, April 8th. Finally, Zacks Investment Research lowered Element Solutions from a buy rating to a hold rating in a research report on Tuesday, April 23rd.

ESI traded up $0.45 during trading hours on Friday, hitting $9.77. The stock had a trading volume of 2,341,590 shares, compared to its average volume of 1,654,620. The firm’s fifty day simple moving average is $10.12. Element Solutions has a 1 year low of $9.26 and a 1 year high of $13.54. The stock has a market capitalization of $2.36 billion, a PE ratio of 69.79 and a beta of 2.14. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.75 and a current ratio of 2.20.

Element Solutions (NYSE:ESI) last announced its quarterly earnings data on Friday, August 2nd. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.01. Element Solutions had a positive return on equity of 6.63% and a negative net margin of 13.82%. The company had revenue of $456.70 million during the quarter, compared to analyst estimates of $468.94 million. The business’s revenue for the quarter was down 9.0% on a year-over-year basis. Analysts predict that Element Solutions will post 0.84 earnings per share for the current fiscal year.

In related news, COO Scot Benson bought 20,000 shares of Element Solutions stock in a transaction on Monday, May 13th. The stock was acquired at an average price of $10.50 per share, with a total value of $210,000.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Rakesh Sachdev sold 28,764 shares of Element Solutions stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $10.71, for a total value of $308,062.44. The disclosure for this sale can be found here. Company insiders own 13.30% of the company’s stock.

About Element Solutions

Element Solutions Inc produces and sells specialty chemical products worldwide. The company operates through two segments, Electronics and Industrial & Specialty. The Electronics segment researches, formulates, and delivers specialty chemicals and materials for various types of electronics hardware products.

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