Ingredion (INGR) to Release Earnings on Tuesday

Ingredion (NYSE:INGR - Get Free Report) is scheduled to announce its earnings results before the market opens on Tuesday, November 5th. Analysts expect the company to announce earnings of $2.51 per share for the quarter. Ingredion has set its FY 2024 guidance at 9.700-10.200 EPS.Persons interested in participating in the company's earnings conference call can do so using this link.

Ingredion (NYSE:INGR - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.34. The business had revenue of $1.88 billion during the quarter, compared to analysts' expectations of $1.98 billion. Ingredion had a net margin of 8.47% and a return on equity of 17.18%. The firm's revenue for the quarter was down 9.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.32 EPS. On average, analysts expect Ingredion to post $10 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Ingredion Trading Down 1.1 %

Shares of NYSE:INGR traded down $1.48 during midday trading on Tuesday, hitting $133.36. 254,276 shares of the stock traded hands, compared to its average volume of 371,503. The company has a quick ratio of 1.51, a current ratio of 2.52 and a debt-to-equity ratio of 0.47. The business's 50 day moving average is $134.65 and its two-hundred day moving average is $123.67. The stock has a market capitalization of $8.75 billion, a PE ratio of 13.51, a P/E/G ratio of 1.22 and a beta of 0.72. Ingredion has a one year low of $91.60 and a one year high of $138.37.

Ingredion Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend was Tuesday, October 1st. This is an increase from Ingredion's previous quarterly dividend of $0.78. Ingredion's payout ratio is currently 32.06%.

Insider Buying and Selling

In related news, CEO James P. Zallie sold 22,550 shares of the firm's stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $134.14, for a total transaction of $3,024,857.00. Following the completion of the transaction, the chief executive officer now owns 52,530 shares of the company's stock, valued at $7,046,374.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO James P. Zallie sold 22,550 shares of the company's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $134.14, for a total value of $3,024,857.00. Following the transaction, the chief executive officer now owns 52,530 shares in the company, valued at $7,046,374.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Robert A. Ritchie sold 1,195 shares of the firm's stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $125.00, for a total transaction of $149,375.00. Following the sale, the senior vice president now owns 15,906 shares of the company's stock, valued at approximately $1,988,250. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,551 shares of company stock valued at $3,550,084 over the last quarter. Corporate insiders own 1.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on INGR shares. StockNews.com cut Ingredion from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, August 7th. BMO Capital Markets upped their price objective on shares of Ingredion from $120.00 to $128.00 and gave the stock a "market perform" rating in a report on Wednesday, August 7th. UBS Group lifted their target price on shares of Ingredion from $141.00 to $148.00 and gave the company a "buy" rating in a research note on Thursday, August 15th. Barclays raised shares of Ingredion from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $122.00 to $145.00 in a research note on Friday, August 9th. Finally, Oppenheimer lifted their price objective on Ingredion from $138.00 to $147.00 and gave the company an "outperform" rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Ingredion has a consensus rating of "Moderate Buy" and an average price target of $138.83.

About Ingredion

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.