Ingredion Inc (INGR) Releases FY14 Earnings Guidance
Ingredion Inc (NASDAQ:INGR) updated its FY14 earnings guidance on Thursday. The company provided EPS guidance of $5.35-5.75 for the period, compared to the Thomson Reuters consensus EPS estimate of $5.69, American Banking & Market News reports.
On a related note, analysts at BMO Capital Markets downgraded shares of Ingredion from an outperform rating to a market perform rating in a research note to investors on Wednesday, January 8th. They now have a $74.00 price target on the stock, down previously from $75.00. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $74.55.
Ingredion Inc (NASDAQ:INGR) opened at 58.95 on Thursday. Ingredion Inc has a 52-week low of $58.28 and a 52-week high of $74.31. The stock has a 50-day moving average of $65.94 and a 200-day moving average of $66.32. The company has a market cap of $4.520 billion and a price-to-earnings ratio of 11.51.
Ingredion (NASDAQ:INGR) last announced its earnings results on Thursday, February 6th. The company reported $1.35 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.36 by $0.01. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the previous year, the company posted $1.47 earnings per share. The company’s revenue for the quarter was down 8.8% on a year-over-year basis. Analysts expect that Ingredion Inc will post $5.06 EPS for the current fiscal year.
Ingredion Incorporated (NASDAQ:INGR), formerly Corn Products International, Inc is a global manufacturer and supplier of starch and sweetener ingredients to a range of industries, including packaged food, beverage, brewing and industrial customers.
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