Sensient Technologies (NYSE:SXT) Releases Earnings Results, Beats Estimates By $0.02 EPS

Sensient Technologies (NYSE:SXT - Get Free Report) announced its earnings results on Friday. The specialty chemicals company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.78 by $0.02, Briefing.com reports. The business had revenue of $392.61 million for the quarter, compared to the consensus estimate of $390.64 million. Sensient Technologies had a return on equity of 11.25% and a net margin of 5.83%. Sensient Technologies's revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.75 EPS. Sensient Technologies updated its FY 2024 guidance to 2.770-2.870 EPS and its FY24 guidance to $2.77 to $2.87 EPS.

Sensient Technologies Trading Down 0.1 %

Shares of Sensient Technologies stock traded down $0.04 on Friday, hitting $77.45. 112,972 shares of the company's stock traded hands, compared to its average volume of 174,667. The firm's 50-day moving average price is $76.60 and its two-hundred day moving average price is $75.25. The stock has a market capitalization of $3.28 billion, a PE ratio of 36.02 and a beta of 0.75. Sensient Technologies has a one year low of $55.02 and a one year high of $82.99. The company has a debt-to-equity ratio of 0.60, a current ratio of 4.16 and a quick ratio of 1.72.

Sensient Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Monday, November 4th. Sensient Technologies's payout ratio is 76.28%.

Insider Buying and Selling at Sensient Technologies

In related news, Director Gebhardt Deborah Mckeithan sold 2,000 shares of the company's stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $71.08, for a total value of $142,160.00. Following the completion of the sale, the director now owns 15,162 shares in the company, valued at $1,077,714.96. This 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 link. Corporate insiders own 1.40% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on SXT. StockNews.com downgraded Sensient Technologies from a "buy" rating to a "hold" rating in a report on Thursday, July 25th. Robert W. Baird upped their price objective on Sensient Technologies from $80.00 to $85.00 and gave the stock an "outperform" rating in a report on Monday, July 29th.

About Sensient Technologies

Sensient Technologies Corporation, together with its subsidiaries, develops, manufactures, and markets colors, flavors, and other specialty ingredients in North America, Europe, Asia, Australia, South America, and Africa. The company offers flavor-delivery systems, and compounded and blended products; ingredient products, such as essential oils, natural and synthetic flavors, and natural extracts; and chili powder, paprika, and chili pepper, as well as dehydrated vegetables comprising parsley, celery, and spinach to the food, beverage, and personal care industries.