Ingredion (INGR) Scheduled to Post Earnings on Tuesday

Ingredion (NYSE:INGR) is set to issue its quarterly earnings data 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.Investors interested in registering for the company’s conference call can do so using this link.

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

Ingredion Price Performance

Shares of NYSE INGR opened at $133.77 on Monday. The business has a 50 day moving average price of $134.74 and a two-hundred day moving average price of $124.31. Ingredion has a fifty-two week low of $93.26 and a fifty-two week high of $138.37. The firm has a market cap of $8.70 billion, a PE ratio of 13.68, a price-to-earnings-growth ratio of 1.20 and a beta of 0.73. The company has a quick ratio of 1.51, a current ratio of 2.52 and a debt-to-equity ratio of 0.47.

Ingredion Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were given a dividend of $0.80 per share. The ex-dividend date was Tuesday, October 1st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.39%. This is an increase from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s dividend payout ratio (DPR) is presently 32.72%.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, CEO James P. Zallie sold 22,550 shares of the business’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 in the company, valued at $7,046,374.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Ingredion news, CEO James P. Zallie sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $134.02, for a total value of $134,020.00. Following the sale, the chief executive officer now owns 52,530 shares in the company, valued at approximately $7,040,070.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James P. Zallie sold 22,550 shares of the business’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 value of $3,024,857.00. Following the transaction, the chief executive officer now owns 52,530 shares of the company’s stock, valued at approximately $7,046,374.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,356 shares of company stock valued at $3,400,709. 1.80% of the stock is currently owned by insiders.

Ingredion Company Profile

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.