Ingredion (INGR) Set to Announce Earnings on Wednesday

Ingredion (NYSE:INGR) is set to announce 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 wish to register for the company’s conference call can do so using this link.

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

Ingredion Stock Down 0.6 %

NYSE:INGR opened at $114.56 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.10 and a current ratio of 1.92. The company has a market capitalization of $7.52 billion, a price-to-earnings ratio of 11.93, a price-to-earnings-growth ratio of 1.08 and a beta of 0.81. Ingredion has a one year low of $89.54 and a one year high of $118.83. The stock has a 50-day simple moving average of $115.19 and a 200 day simple moving average of $108.95.

Ingredion Announces Dividend

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

Insider Buying and Selling

In other Ingredion news, SVP Larry Fernandes sold 2,369 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $115.08, for a total transaction 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 approximately $3,333,407.28. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Ingredion news, SVP Larry Fernandes sold 2,369 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $115.08, for a total value of $272,624.52. Following the sale, the senior vice president now directly owns 28,966 shares in the company, valued at $3,333,407.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James P. Zallie sold 54,581 shares of the firm’s 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 transaction, the chief executive officer now owns 99,246 shares of the company’s stock, valued at approximately $11,635,601.04. The disclosure for this sale can be found here. Insiders have sold a total of 58,921 shares of company stock valued at $6,903,045 over the last quarter. Corporate insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on INGR shares. The Goldman Sachs Group raised Ingredion from a “neutral” rating to a “buy” rating and upped their price target for the company from $122.00 to $135.00 in a research report on Thursday, February 15th. Stephens restated an “overweight” rating and issued a $130.00 price target on shares of Ingredion in a research report on Wednesday, February 7th. StockNews.com raised shares of Ingredion from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 22nd. Finally, Barclays upped their price objective on Ingredion from $115.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 6th. Two research 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus 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.