Koppers Holdings Inc. (NYSE:KOP) Forecasted to Post Q1 2024 Earnings of $0.67 Per Share

Koppers Holdings Inc. (NYSE:KOP) – Investment analysts at Barrington Research reduced their Q1 2024 EPS estimates for Koppers in a research report issued to clients and investors on Tuesday, March 26th. Barrington Research analyst G. Prestopino now forecasts that the specialty chemicals company will earn $0.67 per share for the quarter, down from their previous forecast of $0.72. Barrington Research currently has a “Outperform” rating and a $64.00 price objective on the stock. The consensus estimate for Koppers’ current full-year earnings is $4.59 per share. Barrington Research also issued estimates for Koppers’ Q3 2024 earnings at $1.70 EPS.

Several other brokerages also recently issued reports on KOP. Singular Research raised shares of Koppers from a “hold” rating to a “buy” rating and set a $67.50 price objective on the stock in a research note on Wednesday, March 13th. StockNews.com downgraded shares of Koppers from a “hold” rating to a “sell” rating in a research note on Friday, December 29th. One research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.50.

Koppers Stock Up 0.9 %

Shares of NYSE KOP opened at $55.17 on Thursday. The company has a debt-to-equity ratio of 1.66, a current ratio of 2.14 and a quick ratio of 0.93. The company has a market capitalization of $1.16 billion, a PE ratio of 13.29 and a beta of 1.87. The firm’s 50-day moving average is $52.54 and its two-hundred day moving average is $46.13. Koppers has a 12-month low of $28.45 and a 12-month high of $58.23.

Koppers (NYSE:KOP) last announced its quarterly earnings results on Wednesday, February 28th. The specialty chemicals company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.05). Koppers had a net margin of 4.14% and a return on equity of 20.10%. The business had revenue of $513.20 million during the quarter, compared to analysts’ expectations of $483.67 million. During the same period last year, the company earned $1.09 EPS. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis.

Koppers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were given a dividend of $0.07 per share. This is a positive change from Koppers’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.28 annualized dividend and a yield of 0.51%. Koppers’s dividend payout ratio is 6.75%.

Insider Transactions at Koppers

In other news, SVP Leslie S. Hyde sold 22,403 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $53.91, for a total value of $1,207,745.73. Following the completion of the sale, the senior vice president now owns 55,658 shares of the company’s stock, valued at $3,000,522.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Leslie S. Hyde sold 22,403 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $53.91, for a total value of $1,207,745.73. Following the completion of the transaction, the senior vice president now directly owns 55,658 shares in the company, valued at $3,000,522.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO James A. Sullivan sold 700 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $54.01, for a total transaction of $37,807.00. Following the completion of the transaction, the chief operating officer now owns 111,192 shares of the company’s stock, valued at $6,005,479.92. The disclosure for this sale can be found here. Insiders sold 31,591 shares of company stock valued at $1,700,094 over the last 90 days. Corporate insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Invesco Ltd. boosted its stake in shares of Koppers by 29.2% in the third quarter. Invesco Ltd. now owns 462,789 shares of the specialty chemicals company’s stock valued at $18,303,000 after purchasing an additional 104,590 shares during the period. Skylands Capital LLC bought a new position in Koppers during the 3rd quarter valued at $1,022,000. Advisor Partners II LLC bought a new position in Koppers during the 3rd quarter valued at $459,000. Dark Forest Capital Management LP bought a new position in Koppers during the 3rd quarter valued at $439,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in Koppers by 617.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 63,727 shares of the specialty chemicals company’s stock valued at $2,520,000 after acquiring an additional 54,841 shares during the last quarter. 92.75% of the stock is currently owned by hedge funds and other institutional investors.

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.