Q3 2017 Earnings Estimate for Innospec Inc. (IOSP) Issued By KeyCorp
Innospec Inc. (NASDAQ:IOSP) – Research analysts at KeyCorp dropped their Q3 2017 earnings estimates for shares of Innospec in a research report issued on Tuesday. KeyCorp analyst M. Sison now anticipates that the specialty chemicals company will post earnings of $0.85 per share for the quarter, down from their previous estimate of $0.86. KeyCorp also issued estimates for Innospec’s FY2017 earnings at $4.15 EPS.
Several other research firms have also commented on IOSP. Zacks Investment Research lowered Innospec from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 12th. BidaskClub lowered Innospec from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Finally, ValuEngine lowered Innospec from a “buy” rating to a “hold” rating in a report on Monday, August 7th.
Innospec (NASDAQ:IOSP) opened at 57.15 on Wednesday. The company’s 50-day moving average price is $63.23 and its 200 day moving average price is $64.56. The stock has a market capitalization of $1.38 billion, a P/E ratio of 18.19 and a beta of 1.15. Innospec has a 52 week low of $54.45 and a 52 week high of $74.75.
Innospec (NASDAQ:IOSP) last announced its earnings results on Tuesday, August 8th. The specialty chemicals company reported $1.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.08. Innospec had a return on equity of 14.77% and a net margin of 7.22%. The firm had revenue of $326.30 million for the quarter.
Several institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in Innospec during the second quarter worth about $106,000. Ameritas Investment Partners Inc. bought a new position in Innospec during the first quarter worth about $132,000. Victory Capital Management Inc. raised its position in Innospec by 18.1% in the first quarter. Victory Capital Management Inc. now owns 2,311 shares of the specialty chemicals company’s stock worth $150,000 after buying an additional 354 shares in the last quarter. State of Alaska Department of Revenue raised its position in Innospec by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 2,660 shares of the specialty chemicals company’s stock worth $172,000 after buying an additional 70 shares in the last quarter. Finally, Pinebridge Investments L.P. raised its position in Innospec by 1.3% in the second quarter. Pinebridge Investments L.P. now owns 3,180 shares of the specialty chemicals company’s stock worth $209,000 after buying an additional 41 shares in the last quarter. 91.53% of the stock is currently owned by hedge funds and other institutional investors.
Innospec Company Profile
Innospec Inc is a specialty chemicals company engaged in developing, manufacturing, blending, marketing and supplying of specialty chemicals for use as fuel additives and ingredients for personal care, home care, agrochemical, mining and other applications and oilfield chemicals. The Company operates through four business segments: Fuel Specialties, Performance Chemicals, Oilfield Services and Octane Additives.
Receive News & Ratings for Innospec Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Innospec Inc. and related companies with MarketBeat.com's FREE daily email newsletter.