Mizuho Forecasts Strong Price Appreciation for Element Solutions (NYSE:ESI) Stock

Element Solutions (NYSE:ESI - Free Report) had its price target increased by Mizuho from $24.00 to $27.00 in a report published on Tuesday morning,Benzinga reports. Mizuho currently has an outperform rating on the stock.

Several other research firms have also recently weighed in on ESI. KeyCorp boosted their price target on Element Solutions from $28.00 to $29.00 and gave the stock an "overweight" rating in a report on Monday. Barclays reduced their price target on Element Solutions from $30.00 to $27.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. BMO Capital Markets reduced their price target on Element Solutions from $34.00 to $30.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. UBS Group boosted their price target on Element Solutions from $25.00 to $29.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Finally, Truist Financial upgraded Element Solutions from a "hold" rating to a "buy" rating and reduced their price target for the stock from $28.00 to $24.00 in a report on Monday, April 14th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $27.13.

Element Solutions Stock Up 0.1%

Shares of NYSE:ESI traded up $0.03 during midday trading on Tuesday, hitting $24.72. The stock had a trading volume of 1,834,069 shares, compared to its average volume of 2,036,466. Element Solutions has a 12 month low of $16.77 and a 12 month high of $29.78. The company has a quick ratio of 3.16, a current ratio of 3.95 and a debt-to-equity ratio of 0.64. The business's 50-day simple moving average is $22.58 and its 200-day simple moving average is $23.28. The company has a market cap of $5.99 billion, a P/E ratio of 20.77, a PEG ratio of 1.76 and a beta of 1.23.

Element Solutions (NYSE:ESI - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.01. The company had revenue of $593.70 million during the quarter, compared to the consensus estimate of $576.73 million. Element Solutions had a return on equity of 14.42% and a net margin of 11.56%. The company's revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.34 earnings per share. On average, sell-side analysts forecast that Element Solutions will post 1.45 earnings per share for the current fiscal year.

Element Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Monday, June 2nd. Element Solutions's dividend payout ratio (DPR) is presently 26.89%.

Hedge Funds Weigh In On Element Solutions

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Element Solutions by 12.1% in the first quarter. Vanguard Group Inc. now owns 24,932,851 shares of the company's stock valued at $563,732,000 after buying an additional 2,688,056 shares during the period. Gates Capital Management Inc. lifted its stake in Element Solutions by 101.9% in the first quarter. Gates Capital Management Inc. now owns 5,424,745 shares of the company's stock valued at $122,653,000 after buying an additional 2,738,250 shares during the period. Silvercrest Asset Management Group LLC lifted its stake in Element Solutions by 3.0% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 5,026,543 shares of the company's stock valued at $127,825,000 after buying an additional 146,570 shares during the period. Locust Wood Capital Advisers LLC lifted its stake in Element Solutions by 15.9% in the first quarter. Locust Wood Capital Advisers LLC now owns 3,680,449 shares of the company's stock valued at $83,215,000 after buying an additional 505,983 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Element Solutions by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 3,555,852 shares of the company's stock valued at $90,456,000 after buying an additional 14,339 shares during the period. 92.32% of the stock is owned by institutional investors and hedge funds.

Element Solutions Company Profile

Element Solutions Inc operates as a specialty chemicals company in the United States, China, and internationally. The company operates in two segments, Electronics, and Industrial & Specialty. The Electronics segment researches, formulates, and sells specialty chemicals and materials for various types of electronics hardware products.