Element Solutions Inc (NYSE:ESI) Announces $0.08 Quarterly Dividend

Element Solutions Inc (NYSE:ESI) declared a quarterly dividend on Tuesday, August 20th, Wall Street Journal reports. Shareholders of record on Friday, August 30th will be given a dividend of 0.08 per share on Friday, September 13th. This represents a $0.32 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Friday, August 30th.

Element Solutions has increased its dividend payment by an average of 85.7% annually over the last three years. Element Solutions has a payout ratio of 19.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Element Solutions to earn $1.68 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 19.0%.

Element Solutions Trading Up 1.9 %

Shares of ESI traded up $0.48 during midday trading on Wednesday, hitting $25.84. The stock had a trading volume of 983,895 shares, compared to its average volume of 1,392,633. The stock’s 50 day moving average is $26.62 and its 200 day moving average is $24.87. The firm has a market cap of $6.25 billion, a PE ratio of 47.85, a price-to-earnings-growth ratio of 1.20 and a beta of 1.31. The company has a debt-to-equity ratio of 0.80, a current ratio of 3.50 and a quick ratio of 2.60. Element Solutions has a 1 year low of $17.57 and a 1 year high of $28.68.

Element Solutions (NYSE:ESI) last posted its quarterly earnings data on Monday, July 29th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The company had revenue of $613.00 million for the quarter, compared to analyst estimates of $606.95 million. Element Solutions had a net margin of 8.24% and a return on equity of 14.42%. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.31 EPS. As a group, analysts forecast that Element Solutions will post 1.45 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ESI. The Goldman Sachs Group raised their price target on Element Solutions from $26.00 to $29.00 and gave the stock a “neutral” rating in a research note on Thursday, June 27th. Mizuho increased their target price on Element Solutions from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, June 12th. StockNews.com upgraded Element Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. UBS Group upped their price target on shares of Element Solutions from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $30.00 price target (up previously from $28.00) on shares of Element Solutions in a research note on Wednesday, June 12th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $29.40.

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.