Ingredion (NYSE:INGR) Issues FY 2022 Earnings Guidance

Ingredion (NYSE:INGRGet Rating) updated its FY 2022 earnings guidance on Monday. The company provided EPS guidance of $6.85-$7.45 for the period, compared to the consensus EPS estimate of $7.02. The company issued revenue guidance of -.

A number of research firms recently issued reports on INGR. Zacks Investment Research raised shares of Ingredion from a sell rating to a hold rating in a research note on Wednesday, May 4th. TheStreet upgraded shares of Ingredion from a c+ rating to a b- rating in a research note on Tuesday, April 19th. StockNews.com raised Ingredion from a hold rating to a buy rating in a report on Friday. Finally, Credit Suisse Group downgraded shares of Ingredion from an outperform rating to a neutral rating and reduced their price target for the company from $102.00 to $94.00 in a research report on Tuesday, April 12th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Buy and an average target price of $105.60.

INGR stock traded down $1.37 on Monday, reaching $86.94. The company had a trading volume of 8,677 shares, compared to its average volume of 414,328. Ingredion has a 1 year low of $81.25 and a 1 year high of $101.89. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.01 and a current ratio of 1.82. The company’s fifty day moving average is $87.04 and its 200 day moving average is $92.31. The company has a market cap of $5.78 billion, a P/E ratio of 11.86 and a beta of 0.79.

Ingredion (NYSE:INGRGet Rating) last released its quarterly earnings data on Thursday, May 5th. The company reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.14. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.77 billion. Ingredion had a return on equity of 14.80% and a net margin of 6.87%. The business’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.85 EPS. On average, sell-side analysts predict that Ingredion will post 7.08 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 26th. Stockholders of record on Friday, April 1st were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Thursday, March 31st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.99%. Ingredion’s payout ratio is 35.71%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. JustInvest LLC increased its holdings in Ingredion by 92.4% in the 4th quarter. JustInvest LLC now owns 4,581 shares of the company’s stock valued at $443,000 after purchasing an additional 2,200 shares in the last quarter. BlackRock Inc. lifted its position in shares of Ingredion by 2.9% during the fourth quarter. BlackRock Inc. now owns 5,683,001 shares of the company’s stock worth $549,206,000 after purchasing an additional 157,497 shares during the last quarter. Vident Investment Advisory LLC lifted its position in shares of Ingredion by 4.3% during the fourth quarter. Vident Investment Advisory LLC now owns 24,606 shares of the company’s stock worth $2,378,000 after purchasing an additional 1,014 shares during the last quarter. William Blair Investment Management LLC lifted its position in shares of Ingredion by 43.3% during the fourth quarter. William Blair Investment Management LLC now owns 4,964 shares of the company’s stock worth $480,000 after purchasing an additional 1,499 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Ingredion by 6.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 212,770 shares of the company’s stock worth $20,562,000 after purchasing an additional 12,256 shares during the last quarter. Hedge funds and other institutional investors own 86.77% of the company’s stock.

Ingredion Company Profile (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.

Featured Stories

Receive News & Ratings for Ingredion Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingredion and related companies with MarketBeat.com's FREE daily email newsletter.