NewMarket Corporation (NEU) Releases Quarterly Earnings Results, Misses Estimates By $0.66 EPS
NewMarket Corporation (NYSE:NEU) announced its earnings results on Wednesday. The specialty chemicals company reported $5.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $5.70 by ($0.66), Bloomberg Earnings reports. The company had revenue of $584.41 million for the quarter, compared to analysts’ expectations of $546.40 million. NewMarket Corporation had a net margin of 11.57% and a return on equity of 46.94%. The firm’s quarterly revenue was up 13.2% on a year-over-year basis. During the same period in the previous year, the firm earned $6.00 EPS.
Shares of NewMarket Corporation (NYSE:NEU) traded down 5.04% on Thursday, hitting $402.06. The company had a trading volume of 21,211 shares. NewMarket Corporation has a 52 week low of $382.04 and a 52 week high of $483.86. The firm’s 50 day moving average price is $426.26 and its 200-day moving average price is $446.45. The stock has a market capitalization of $4.77 billion, a PE ratio of 19.54 and a beta of 0.75.
The business also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 15th were given a dividend of $1.75 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $7.00 annualized dividend and a dividend yield of 1.65%. NewMarket Corporation’s payout ratio is 34.03%.
Separately, BidaskClub cut NewMarket Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th.
About NewMarket Corporation
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). The Company operates through petroleum additives segment, which is primarily represented by Afton.
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