Ingredion (NYSE:INGR - Get Free Report) is expected to be releasing its earnings data before the market opens on Tuesday, February 4th. Analysts expect Ingredion to post earnings of $2.54 per share and revenue of $1.82 billion for the quarter. Ingredion has set its FY 2024 guidance at 10.350-10.650 EPS and its FY24 guidance at $10.35-$10.65 EPS.Parties that are interested in registering for the company's conference call can do so using this link.
Ingredion (NYSE:INGR - Get Free Report) last announced its earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share for the quarter, topping analysts' consensus estimates of $2.58 by $0.47. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the company earned $2.33 EPS. The company's quarterly revenue was down 8.0% compared to the same quarter last year. On average, analysts expect Ingredion to post $11 EPS for the current fiscal year and $11 EPS for the next fiscal year.
Ingredion Price Performance
Shares of NYSE INGR traded down $0.96 during midday trading on Friday, hitting $136.40. 315,175 shares of the company's stock were exchanged, compared to its average volume of 483,016. The company has a current ratio of 2.67, a quick ratio of 1.69 and a debt-to-equity ratio of 0.44. The business's fifty day moving average price is $139.86 and its two-hundred day moving average price is $135.52. The company has a market cap of $8.89 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 1.12 and a beta of 0.75. Ingredion has a 12-month low of $107.40 and a 12-month high of $155.44.
Ingredion Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Thursday, January 2nd were paid a $0.80 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $3.20 dividend on an annualized basis and a yield of 2.35%. Ingredion's dividend payout ratio is presently 31.22%.
Insider Activity
In related news, CFO James D. Gray sold 54,869 shares of the firm's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $146.76, for a total value of $8,052,574.44. Following the sale, the chief financial officer now directly owns 12,795 shares of the company's stock, valued at $1,877,794.20. This trade represents a 81.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Larry Fernandes sold 6,122 shares of the business's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $140.66, for a total value of $861,120.52. Following the transaction, the senior vice president now owns 29,034 shares in the company, valued at approximately $4,083,922.44. This represents a 17.41 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,692 shares of company stock valued at $9,634,868. 1.80% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
INGR has been the subject of a number of research analyst reports. Barclays lifted their price objective on shares of Ingredion from $145.00 to $168.00 and gave the stock an "overweight" rating in a report on Wednesday, November 6th. Stephens upgraded Ingredion to a "hold" rating in a report on Monday, December 2nd. UBS Group raised their price objective on Ingredion from $165.00 to $173.00 and gave the company a "buy" rating in a report on Friday, November 15th. Oppenheimer upped their target price on Ingredion from $147.00 to $178.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 6th. Finally, BMO Capital Markets upped their price objective on shares of Ingredion from $128.00 to $147.00 and gave the company a "market perform" rating in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $155.17.
Read Our Latest Stock Report on INGR
Ingredion Company Profile
(
Get Free Report)
Ingredion Incorporated, together with its subsidiaries, manufactures and sells sweeteners, starches, nutrition ingredients, and biomaterial solutions derived from wet milling and processing corn, and other starch-based materials to a range of industries in North America, South America, the Asia Pacific, Europe, the Middle East, and Africa.
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