Analysts Anticipate NewMarket Corp. (NEU) to Post $3.87 Earnings Per Share
Shares of NewMarket Corp. (NYSE:NEU) have earned an average broker rating score of 3.00 (Hold) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a hold recommendation.
Analysts have set a twelve-month consensus target price of $440.00 for the company and are predicting that the company will post $3.87 earnings per share for the current quarter, according to Zacks. Zacks has also given NewMarket Corp. an industry rank of 199 out of 265 based on the ratings given to related companies.
Several research firms have issued reports on NEU. Zacks Investment Research upgraded NewMarket Corp. from a “hold” rating to a “buy” rating and set a $481.00 price objective for the company in a research report on Tuesday, August 2nd. BMO Capital Markets cut NewMarket Corp. from an “outperform” rating to a “market perform” rating in a research report on Friday, September 30th.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital One National Association boosted its position in NewMarket Corp. by 9.7% in the second quarter. Capital One National Association now owns 1,997 shares of the company’s stock valued at $828,000 after buying an additional 176 shares during the last quarter. Trust Co. of Virginia VA acquired a new position in NewMarket Corp. during the second quarter valued at about $207,000. Capital Analysts LLC boosted its position in NewMarket Corp. by 1,549.2% in the second quarter. Capital Analysts LLC now owns 11,528 shares of the company’s stock valued at $1,214,000 after buying an additional 10,829 shares during the last quarter. Denali Advisors LLC acquired a new position in NewMarket Corp. during the second quarter valued at about $4,061,000. Finally, Capstone Asset Management Co. boosted its position in NewMarket Corp. by 0.5% in the second quarter. Capstone Asset Management Co. now owns 1,072 shares of the company’s stock valued at $444,000 after buying an additional 5 shares during the last quarter. Hedge funds and other institutional investors own 57.52% of the company’s stock.
Shares of NewMarket Corp. (NYSE:NEU) traded up 0.12% on Wednesday, hitting $422.84. 25,630 shares of the stock traded hands. The company has a market cap of $5.01 billion, a PE ratio of 19.97 and a beta of 0.65. The firm’s 50 day moving average is $404.65 and its 200-day moving average is $414.54. NewMarket Corp. has a 12 month low of $322.54 and a 12 month high of $447.97.
NewMarket Corp. (NYSE:NEU) last released its quarterly earnings data on Wednesday, October 26th. The company reported $6.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.22 by $0.78. The firm earned $516.09 million during the quarter, compared to analysts’ expectations of $521.10 million. NewMarket Corp. had a return on equity of 60.19% and a net margin of 12.41%. NewMarket Corp.’s revenue was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.08 earnings per share. Equities analysts predict that NewMarket Corp. will post $21.07 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 2nd. Shareholders of record on Thursday, December 15th will be given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Tuesday, December 13th. NewMarket Corp.’s payout ratio is 30.22%.
NewMarket Corp. Company Profile
NewMarket Corporation is a holding company. The Company is the parent company of Afton Chemical Corporation (Afton), Ethyl Corporation (Ethyl), NewMarket Services Corporation (NewMarket Services) and NewMarket Development Corporation (NewMarket Development). It operates in petroleum additives segment, which is primarily represented by Afton.
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