Ingredion (INGR) Set to Announce Quarterly Earnings on Tuesday

Ingredion (NYSE:INGR) will issue its quarterly earnings data before the market opens on Tuesday, November 5th. Analysts expect the company to announce earnings of $2.51 per share for the quarter. Ingredion has set its FY 2024 guidance at 9.700-10.200 EPS.Parties interested in registering for the company’s conference call can do so using this link.

Ingredion (NYSE:INGR) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.34. Ingredion had a return on equity of 17.18% and a net margin of 8.47%. The business had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same period last year, the business posted $2.32 EPS. The business’s revenue was down 9.2% compared to the same quarter last year. On average, analysts expect Ingredion to post $10 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Ingredion Trading Up 0.8 %

Shares of NYSE:INGR opened at $133.77 on Friday. Ingredion has a 12-month low of $93.26 and a 12-month high of $138.37. The business’s fifty day simple moving average is $134.74 and its 200-day simple moving average is $124.22. The company has a market capitalization of $8.70 billion, a PE ratio of 13.68, a P/E/G ratio of 1.21 and a beta of 0.72. The company has a current ratio of 2.52, a quick ratio of 1.51 and a debt-to-equity ratio of 0.47.

Ingredion Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were issued a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This is an increase from Ingredion’s previous quarterly dividend of $0.78. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.39%. Ingredion’s dividend payout ratio (DPR) is currently 32.72%.

Wall Street Analysts Forecast Growth

INGR has been the topic of several research analyst reports. StockNews.com downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. BMO Capital Markets boosted their target price on Ingredion from $120.00 to $128.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 7th. Oppenheimer boosted their target price on Ingredion from $138.00 to $147.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. UBS Group boosted their target price on Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, Barclays upgraded Ingredion from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $122.00 to $145.00 in a research note on Friday, August 9th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $138.83.

Insiders Place Their Bets

In other news, CEO James P. Zallie sold 22,550 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $134.14, for a total value of $3,024,857.00. Following the completion of the sale, the chief executive officer now directly owns 52,530 shares in the company, valued at $7,046,374.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO James P. Zallie sold 22,550 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $134.14, for a total value of $3,024,857.00. Following the completion of the sale, the chief executive officer now directly owns 52,530 shares in the company, valued at $7,046,374.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO James P. Zallie sold 371 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $133.58, for a total value of $49,558.18. Following the completion of the sale, the chief executive officer now owns 52,159 shares of the company’s stock, valued at $6,967,399.22. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 25,356 shares of company stock worth $3,400,709. Corporate 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.