Ingredion (NYSE:INGR) Releases FY22 Earnings Guidance

Ingredion (NYSE:INGRGet Rating) issued an update on its FY22 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $6.85-7.45 for the period, compared to the consensus estimate of $7.02.

INGR stock opened at $88.42 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.78. Ingredion has a 1 year low of $81.25 and a 1 year high of $101.89. The firm has a market cap of $5.88 billion, a P/E ratio of 52.01 and a beta of 0.79. The stock has a 50-day simple moving average of $87.05 and a 200-day simple moving average of $92.44.

Ingredion (NYSE:INGRGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.14. Ingredion had a return on equity of 15.42% and a net margin of 1.70%. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the firm earned $1.85 EPS. Ingredion’s quarterly revenue was up 17.2% on a year-over-year basis. On average, equities research analysts predict that Ingredion will post 7.08 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 26th. Stockholders of record on Friday, April 1st were given a $0.65 dividend. The ex-dividend date was Thursday, March 31st. This represents a $2.60 annualized dividend and a dividend yield of 2.94%. Ingredion’s payout ratio is 152.94%.

Several research analysts have recently commented on INGR shares. TheStreet upgraded Ingredion from a c+ rating to a b- rating in a research report on Tuesday, April 19th. Credit Suisse Group downgraded Ingredion from an outperform rating to a neutral rating and cut their price target for the stock from $102.00 to $94.00 in a report on Tuesday, April 12th. Zacks Investment Research raised Ingredion from a sell rating to a hold rating in a report on Wednesday. Finally, StockNews.com downgraded Ingredion from a buy rating to a hold rating in a research note on Tuesday, April 19th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Ingredion has an average rating of Hold and an average price target of $105.60.

Several hedge funds have recently modified their holdings of INGR. Canada Pension Plan Investment Board acquired a new position in shares of Ingredion in the 4th quarter worth $48,000. Penserra Capital Management LLC grew its holdings in shares of Ingredion by 482.0% in the 4th quarter. Penserra Capital Management LLC now owns 1,356 shares of the company’s stock worth $130,000 after acquiring an additional 1,123 shares during the last quarter. Toroso Investments LLC acquired a new position in shares of Ingredion in the 4th quarter worth $238,000. Two Sigma Investments LP acquired a new position in shares of Ingredion in the 3rd quarter worth $268,000. Finally, JustInvest LLC grew its holdings in shares of Ingredion by 92.4% in the 4th quarter. JustInvest LLC now owns 4,581 shares of the company’s stock worth $443,000 after acquiring an additional 2,200 shares during the last quarter. Institutional investors own 86.77% of the company’s stock.

About Ingredion (Get Rating)

Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. It operates through four segments: North America; South America; Asia-Pacific; and Europe, Middle East and Africa. The company offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, and glucose syrup solids, as well as food-grade and industrial starches, biomaterials, and nutrition ingredients.

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