Ingredion (NYSE:INGR - Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 10.350-10.650 for the period, compared to the consensus EPS estimate of 9.970. The company issued revenue guidance of -.
NYSE:INGR opened at $134.04 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.51 and a current ratio of 2.52. The firm has a 50-day simple moving average of $134.76 and a two-hundred day simple moving average of $124.46. Ingredion has a fifty-two week low of $95.07 and a fifty-two week high of $138.37. The firm has a market cap of $8.72 billion, a P/E ratio of 13.71, a P/E/G ratio of 1.21 and a beta of 0.73.
Ingredion (NYSE:INGR - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported $2.87 earnings per share for the quarter, topping 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 firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the prior year, the company posted $2.32 earnings per share. The business's quarterly revenue was down 9.2% compared to the same quarter last year. Analysts predict that Ingredion will post 10.05 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st were paid a dividend of $0.80 per share. The ex-dividend date was Tuesday, October 1st. This is a boost 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 payout ratio is currently 32.72%.
Several equities analysts recently issued reports on the stock. BMO Capital Markets boosted their target price on shares of Ingredion from $120.00 to $128.00 and gave the company a "market perform" rating in a research note on Wednesday, August 7th. UBS Group boosted their price objective on shares of Ingredion from $141.00 to $148.00 and gave the stock a "buy" rating in a research report on Thursday, August 15th. StockNews.com downgraded Ingredion from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, August 7th. Oppenheimer raised their price objective on shares of Ingredion from $138.00 to $147.00 and gave the company an "outperform" rating in a research note on Monday, October 21st. Finally, Barclays raised Ingredion from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $122.00 to $145.00 in a research report on Friday, August 9th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $138.83.
Check Out Our Latest Analysis on Ingredion
In related news, CEO James P. Zallie sold 1,300 shares of the company's stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $134.03, for a total value of $174,239.00. Following the completion of the transaction, the chief executive officer now directly owns 52,530 shares of the company's stock, valued at approximately $7,040,595.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Ingredion news, CEO James P. Zallie sold 1,300 shares of Ingredion stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $134.03, for a total value of $174,239.00. Following the transaction, the chief executive officer now owns 52,530 shares in the company, valued at $7,040,595.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO James P. Zallie sold 22,550 shares of the company's stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $134.14, for a total value of $3,024,857.00. Following the completion of the transaction, the chief executive officer now directly owns 52,530 shares of the company's stock, valued at $7,046,374.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,356 shares of company stock worth $3,400,709 over the last ninety days. Company insiders own 1.80% of the company's stock.
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.
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