Monness Crespi & Hardt decreased their price target on shares of Koppers Holdings (NYSE: KOP)
The analysts wrote, ?KOP ended a difficult 2012 with a nice earnings beat in 4Q, even though it was driven by a lower tax rate. We believe 2013 will be a better year for KOP, with a number of headwinds for the key Carbon Materials business dissipating. That said, the caution management displayed yesterday on both lingering demand weakness in Europe and via lower than expected guidance for 1Q, have us trimming our estimate for 2013 and commensurately lowering our target. KOP has a couple of very good business but needs to see the Carbon Materials business get back on track, both through better pitch demand but also better margins. We see 2013 as helping KOP move forward on both those issues and thus given the current valuation, maintain our Buy rating.? Koppers Holdings opened at 41.42 on Friday. Koppers Holdings has a 52-week low of $29.30 and a 52-week high of $43.71. The stock?s 50-day moving average is currently $40.55. The company has a market cap of $852.4 million and a price-to-earnings ratio of 22.90.
Koppers Holdings last posted its quarterly earnings results on Thursday, February 14th. The company reported $0.65 earnings per share for the quarter, beating the analysts? consensus estimate of $0.60 by $0.05. The company had revenue of $374.90 million for the quarter, compared to the consensus estimate of $382.47 million. During the same quarter in the previous year, the company posted $0.37 earnings per share. The company?s revenue for the quarter was up 1.6% on a year-over-year basis. Analysts expect that Koppers Holdings will post $3.76 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, April 8th. Shareholders of record on Tuesday, February 19th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Thursday, February 14th. This is a positive change from Koppers Holdings?s previous quarterly dividend of $0.24.
Koppers Holdings Inc. (Koppers Holdings) is an integrated provider of carbon compounds and commercial wood treatment products.