Koppers (KOP) Scheduled to Post Earnings on Friday

Posted by Defense World Staff on Apr 28th, 2023

Koppers (NYSE:KOP – Get Rating) is set to issue its quarterly earnings data before the market opens on Friday, May 5th. Analysts expect the company to announce earnings of $0.76 per share for the quarter. Koppers has set its FY23 guidance at approx $4.40 EPS and its FY 2023 guidance at $4.40-$4.40 EPS.Parties interested in registering for the company’s conference call can do so using this link.

Koppers (NYSE:KOP – Get Rating) last released its earnings results on Monday, February 27th. The specialty chemicals company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.19. Koppers had a net margin of 3.20% and a return on equity of 22.39%. The company had revenue of $482.60 million for the quarter, compared to analyst estimates of $503.25 million. During the same period in the prior year, the business earned $0.77 EPS. The firm’s quarterly revenue was up 19.1% on a year-over-year basis. On average, analysts expect Koppers to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Koppers Price Performance

Shares of NYSE KOP opened at $32.28 on Friday. The stock’s 50-day moving average is $34.01 and its two-hundred day moving average is $30.88. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.97 and a quick ratio of 0.87. The company has a market cap of $671.75 million, a price-to-earnings ratio of 10.83 and a beta of 1.82. Koppers has a 1-year low of $20.11 and a 1-year high of $38.42.

Koppers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 27th. Stockholders of record on Friday, March 10th were given a dividend of $0.06 per share. This is a boost from Koppers’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Thursday, March 9th. Koppers’s payout ratio is 8.05%.

Institutional Investors Weigh In On Koppers

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KOP. Fuller & Thaler Asset Management Inc. raised its position in Koppers by 9.4% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 2,126,729 shares of the specialty chemicals company’s stock valued at $58,528,000 after purchasing an additional 181,916 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Koppers by 225.4% during the second quarter. Millennium Management LLC now owns 221,056 shares of the specialty chemicals company’s stock worth $5,005,000 after purchasing an additional 153,118 shares during the period. Invesco Ltd. raised its position in Koppers by 17.9% during the 1st quarter. Invesco Ltd. now owns 414,730 shares of the specialty chemicals company’s stock worth $11,414,000 after buying an additional 63,088 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Koppers by 86.0% during the second quarter. Goldman Sachs Group Inc. now owns 126,109 shares of the specialty chemicals company’s stock worth $2,855,000 after purchasing an additional 58,304 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new stake in Koppers in the second quarter valued at about $889,000. Hedge funds and other institutional investors own 88.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on KOP. StockNews.com downgraded Koppers from a “buy” rating to a “hold” rating in a report on Tuesday, March 14th. Barrington Research increased their target price on shares of Koppers to $40.00 in a research report on Tuesday, February 28th.

Koppers Company Profile

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Koppers Holdings, Inc engages in the provision of treated wood products, wood treatment chemicals and carbon compounds. It operates through the following segments: Carbon Materials and Chemicals, Railroad and Utility Products and Services, and Performance Chemicals. The Carbon Materials and Chemicals segment manufactures carbon pitch naphthalene, creosote, and carbon black feedstock.