Ingredion (INGR) to Release Quarterly Earnings on Wednesday

Ingredion (NYSE:INGR) will be announcing its earnings results before the market opens on Wednesday, May 8th. Analysts expect the company to announce 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.Investors that are interested in participating in the company’s conference call can do so using this link.

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

Ingredion Stock Performance

Ingredion stock opened at $114.59 on Wednesday. The company has a market cap of $7.52 billion, a PE ratio of 11.94, a P/E/G ratio of 1.07 and a beta of 0.81. The company has a fifty day moving average price of $115.21 and a two-hundred day moving average price of $108.49. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.92 and a quick ratio of 1.10. Ingredion has a 12 month low of $89.54 and a 12 month high of $118.83.

Ingredion Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 23rd. Shareholders of record on Monday, April 1st were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend was Thursday, March 28th. Ingredion’s dividend payout ratio is presently 32.50%.

Insider Buying and Selling at Ingredion

In related news, CEO James P. Zallie sold 54,581 shares of Ingredion stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $117.24, for a total transaction of $6,399,076.44. Following the sale, the chief executive officer now directly owns 99,246 shares in the company, valued at $11,635,601.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO James P. Zallie sold 54,581 shares of Ingredion stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $117.24, for a total transaction of $6,399,076.44. Following the sale, the chief executive officer now directly owns 99,246 shares in the company, valued at $11,635,601.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Davida Marie Gable sold 1,968 shares of Ingredion stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $117.38, for a total transaction of $231,003.84. Following the sale, the vice president now owns 1,723 shares in the company, valued at $202,245.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,921 shares of company stock worth $6,903,045. 1.80% of the stock is owned by insiders.

Analysts Set New Price Targets

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

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.