Ingredion (INGR) Expected to Announce Quarterly Earnings on Tuesday

Ingredion (NYSE:INGR) is projected to post its quarterly earnings results 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.Individual interested in registering for the company’s earnings conference call can do so using this link.

Ingredion (NYSE:INGR) last released its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.33 earnings per share. 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 %

NYSE INGR opened at $136.43 on Tuesday. Ingredion has a 1 year low of $107.40 and a 1 year high of $155.44. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.67 and a quick ratio of 1.69. The company has a market capitalization of $8.89 billion, a PE ratio of 13.31, a P/E/G ratio of 1.10 and a beta of 0.75. The company has a fifty day moving average of $140.16 and a 200 day moving average of $135.22.

Ingredion Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Thursday, January 2nd were issued a $0.80 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $3.20 annualized dividend and a dividend yield of 2.35%. Ingredion’s dividend payout ratio (DPR) is presently 31.22%.

Analysts Set New Price Targets

Several brokerages recently weighed in on INGR. BMO Capital Markets lifted their price target on Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a research report on Wednesday, November 6th. UBS Group boosted their target price on shares of Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Stephens upgraded 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 research report on Wednesday, November 6th. Finally, Barclays raised their target price on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Ingredion presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.17.

Insider Buying and Selling

In related news, SVP Larry Fernandes sold 4,700 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now owns 29,034 shares of the company’s stock, valued at approximately $4,454,105.94. This represents a 13.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James D. Gray sold 54,869 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $1,877,794.20. The trade was a 81.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 65,692 shares of company stock worth $9,634,868 in the last 90 days. Insiders own 1.80% of the company’s stock.

About Ingredion

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.