Ingredion (INGR) Expected to Announce Earnings on Tuesday

Ingredion (NYSE:INGR) is expected to release 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 $1,816,340.00 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.Investors that are 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, November 5th. The company reported $3.05 EPS for the quarter, beating the consensus estimate of $2.58 by $0.47. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.94 billion. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.33 EPS. On average, analysts expect Ingredion to post $11 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Ingredion Trading Up 0.5 %

Shares of Ingredion stock opened at $136.43 on Tuesday. The stock has a 50 day moving average of $140.16 and a 200 day moving average of $135.22. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.69 and a current ratio of 2.67. The firm has a market capitalization of $8.89 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 1.10 and a beta of 0.75. Ingredion has a fifty-two week low of $107.40 and a fifty-two week high of $155.44.

Ingredion Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have commented on INGR shares. Stephens raised shares of Ingredion to a “hold” rating in a research report on Monday, December 2nd. Oppenheimer upped their price objective on shares of Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. UBS Group lifted their target price on shares of Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a report on Friday, November 15th. Barclays upped their price target on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Finally, BMO Capital Markets lifted their price objective on Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a research note on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $155.17.

Insiders Place Their Bets

In other Ingredion news, SVP Larry Fernandes sold 4,700 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $153.41, for a total transaction of $721,027.00. Following the completion of the transaction, the senior vice president now owns 29,034 shares in the company, valued at $4,454,105.94. The trade was a 13.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO James D. Gray sold 54,869 shares of the firm’s 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 $1,877,794.20. The trade was a 81.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 65,692 shares of company stock worth $9,634,868 over the last 90 days. Corporate 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.