Equities research analysts expect Innospec Inc. (NASDAQ:IOSP – Get Rating) to post sales of $396.35 million for the current quarter, Zacks reports. Two analysts have made estimates for Innospec’s earnings, with the highest sales estimate coming in at $405.20 million and the lowest estimate coming in at $387.50 million. Innospec posted sales of $339.60 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 16.7%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Monday, January 1st.
According to Zacks, analysts expect that Innospec will report full-year sales of $1.66 billion for the current financial year, with estimates ranging from $1.65 billion to $1.68 billion. For the next fiscal year, analysts forecast that the company will report sales of $1.75 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Innospec.
Innospec (NASDAQ:IOSP – Get Rating) last posted its quarterly earnings data on Tuesday, February 15th. The specialty chemicals company reported $1.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.29. Innospec had a net margin of 6.28% and a return on equity of 12.06%. The business had revenue of $413.20 million for the quarter, compared to analysts’ expectations of $378.60 million. During the same quarter in the previous year, the business posted $1.27 earnings per share.
IOSP stock opened at $95.31 on Monday. The firm’s fifty day simple moving average is $94.02 and its two-hundred day simple moving average is $92.30. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 25.48 and a beta of 1.30. Innospec has a twelve month low of $81.00 and a twelve month high of $107.14.
In related news, CEO Patrick Williams sold 11,448 shares of the company’s stock in a transaction dated Friday, February 25th. The shares were sold at an average price of $96.77, for a total value of $1,107,822.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Ian Malcolm Mcrobbie sold 374 shares of the company’s stock in a transaction dated Tuesday, February 22nd. The stock was sold at an average price of $99.31, for a total transaction of $37,141.94. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,713 shares of company stock valued at $1,521,521. 1.52% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in shares of Innospec by 9.5% during the fourth quarter. BlackRock Inc. now owns 4,268,047 shares of the specialty chemicals company’s stock valued at $385,574,000 after buying an additional 370,154 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Innospec during the fourth quarter valued at about $219,891,000. Royce & Associates LP lifted its position in shares of Innospec by 12.8% during the fourth quarter. Royce & Associates LP now owns 1,351,487 shares of the specialty chemicals company’s stock valued at $122,093,000 after buying an additional 153,469 shares during the last quarter. Champlain Investment Partners LLC lifted its position in shares of Innospec by 18.0% during the fourth quarter. Champlain Investment Partners LLC now owns 988,195 shares of the specialty chemicals company’s stock valued at $89,274,000 after buying an additional 150,615 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of Innospec by 12.2% during the third quarter. Alliancebernstein L.P. now owns 972,962 shares of the specialty chemicals company’s stock valued at $81,943,000 after buying an additional 105,526 shares during the last quarter. 98.99% of the stock is owned by institutional investors and hedge funds.
About Innospec (Get Rating)
Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals in the United States, rest of North America, the United Kingdom, rest of Europe, and internationally. The company's Fuel Specialties segment offers a range of specialty chemical products that are used as additives in various fuels.
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