Ingredion (INGR) Projected to Post Quarterly Earnings on Tuesday

Ingredion (NYSE:INGR) is expected to post its quarterly earnings results 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.Individual interested in listening to the company’s earnings conference call can do so using this link.

Ingredion (NYSE:INGR) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.47. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The firm had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the prior year, the business posted $2.33 earnings per share. The company’s revenue was down 8.0% on a year-over-year basis. 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

INGR stock opened at $136.40 on Monday. The company has a current ratio of 2.67, a quick ratio of 1.69 and a debt-to-equity ratio of 0.44. Ingredion has a 12 month low of $107.40 and a 12 month high of $155.44. The firm has a market capitalization of $8.89 billion, a P/E ratio of 13.31, a price-to-earnings-growth ratio of 1.12 and a beta of 0.75. The firm has a 50 day moving average of $139.51 and a 200-day moving average of $135.94.

Ingredion Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Thursday, January 2nd were issued a $0.80 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $3.20 annualized dividend and a dividend yield of 2.35%. Ingredion’s payout ratio is currently 31.22%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on INGR shares. Oppenheimer lifted their price target on Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Barclays upped their target price on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Stephens raised shares of Ingredion to a “hold” rating in a research note on Monday, December 2nd. 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. Finally, UBS Group lifted their target price on shares of Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $155.17.

Insider Buying and Selling at Ingredion

In related news, SVP Larry Fernandes sold 6,122 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $140.66, for a total value of $861,120.52. Following the completion of the sale, the senior vice president now owns 29,034 shares of the company’s stock, valued at $4,083,922.44. This trade represents a 17.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO James D. Gray sold 54,869 shares of Ingredion stock in a transaction on Friday, November 29th. The shares were sold at an average price of $146.76, for a total transaction of $8,052,574.44. Following the completion of the sale, the chief financial officer now owns 12,795 shares in the company, valued at approximately $1,877,794.20. This trade represents a 81.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 65,692 shares of company stock valued at $9,634,868 in the last quarter. Company insiders own 1.80% of the company’s stock.

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.