Element Solutions Inc (ESI) Given Average Rating of “Buy” by Brokerages
Element Solutions Inc (NYSE:ESI) has been assigned an average broker rating score of 2.33 (Buy) from the six analysts that cover the company, Zacks Investment Research reports. Four investment analysts have rated the stock with a hold rating and two have assigned a strong buy rating to the company. Element Solutions’ rating score has declined by 5.9% from 90 days ago as a result of various analysts’ ratings changes.
Brokerages have set a 1-year consensus price objective of $13.20 for the company and are predicting that the company will post $0.18 EPS for the current quarter, according to Zacks. Zacks has also assigned Element Solutions an industry rank of 209 out of 255 based on the ratings given to its competitors.
A number of research analysts recently commented on ESI shares. Zacks Investment Research downgraded Element Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, March 13th. Raymond James reaffirmed an “average” rating and issued a $6.50 price target on shares of Element Solutions in a research note on Monday, April 8th. Finally, Barclays reaffirmed an “equal weight” rating and issued a $13.00 price target on shares of Element Solutions in a research note on Monday, February 11th.
Element Solutions (NYSE:ESI) last posted its quarterly earnings results on Thursday, February 28th. The company reported $0.02 EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.01). The company had revenue of $478.40 million during the quarter, compared to analyst estimates of $480.00 million. Element Solutions had a negative net margin of 10.98% and a positive return on equity of 6.60%. On average, analysts anticipate that Element Solutions will post 0.82 EPS for the current fiscal year.
In other Element Solutions news, CEO Benjamin Gliklich bought 5,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average price of $10.73 per share, for a total transaction of $53,650.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Pershing Square Capital Manage sold 40,451,506 shares of Element Solutions stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $11.72, for a total value of $474,091,650.32. The disclosure for this sale can be found here. Insiders own 3.80% of the company’s stock.
About Element Solutions
Element Solutions Inc produces and sells specialty chemical products worldwide. It offers a range of specialty chemicals, such as surface and coating materials, functional conversion coatings, electronic assembly materials, water-based hydraulic control fluids, and photopolymers. The company was formerly known as Platform Specialty Products Corporation and changed its name to Element Solutions Inc in January 2019.
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