Ingredion (INGR) Set to Announce Quarterly Earnings on Wednesday

Ingredion (NYSE:INGR) is scheduled to post its quarterly earnings results before the market opens on Wednesday, May 8th. Analysts expect Ingredion to post earnings of $2.08 per share for the quarter. Ingredion has set its FY 2024 guidance at 9.150-9.850 EPS and its FY24 guidance at $9.15-9.85 EPS.Parties that are interested in participating in the company’s conference call can do so using this link.

Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, February 6th. The company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.10. Ingredion had a net margin of 7.88% and a return on equity of 18.57%. The firm had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter last year, the firm earned $1.65 EPS. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. On average, analysts expect Ingredion to post $10 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Ingredion Trading Down 0.6 %

INGR opened at $114.56 on Monday. Ingredion has a 52 week low of $89.54 and a 52 week high of $118.83. The company has a quick ratio of 1.10, a current ratio of 1.92 and a debt-to-equity ratio of 0.49. The business has a fifty day simple moving average of $115.19 and a 200-day simple moving average of $108.95. The firm has a market cap of $7.52 billion, a P/E ratio of 11.93, a P/E/G ratio of 1.08 and a beta of 0.81.

Ingredion Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 23rd. Investors of record on Monday, April 1st were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date was Thursday, March 28th. Ingredion’s dividend payout ratio (DPR) is 32.50%.

Insider Transactions at Ingredion

In related news, SVP Larry Fernandes sold 2,369 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $115.08, for a total value of $272,624.52. Following the completion of the transaction, the senior vice president now directly owns 28,966 shares of the company’s stock, valued at $3,333,407.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Larry Fernandes sold 2,369 shares of Ingredion stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $115.08, for a total transaction of $272,624.52. Following the sale, the senior vice president now directly owns 28,966 shares in the company, valued at approximately $3,333,407.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Davida Marie Gable sold 1,968 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $117.38, for a total transaction of $231,003.84. Following the completion of the transaction, the vice president now owns 1,723 shares of the company’s stock, valued at approximately $202,245.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,921 shares of company stock valued at $6,903,045. Corporate insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on INGR shares. The Goldman Sachs Group raised shares of Ingredion from a “neutral” rating to a “buy” rating and raised their price objective for the company from $122.00 to $135.00 in a research note on Thursday, February 15th. Stephens reiterated an “overweight” rating and issued a $130.00 target price on shares of Ingredion in a report on Wednesday, February 7th. StockNews.com upgraded Ingredion from a “buy” rating to a “strong-buy” rating in a report on Friday, March 22nd. Finally, Barclays lifted their price objective on Ingredion from $115.00 to $122.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 6th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $126.67.

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.