Q4 2017 EPS Estimates for Innospec Inc. Lowered by Analyst (IOSP)
Innospec Inc. (NASDAQ:IOSP) – Equities researchers at KeyCorp dropped their Q4 2017 earnings per share estimates for Innospec in a research note issued on Tuesday. KeyCorp analyst M. Sison now forecasts that the specialty chemicals company will post earnings per share of $1.13 for the quarter, down from their previous estimate of $1.16.
Other research analysts have also issued reports about the company. Zacks Investment Research upgraded Innospec from a “hold” rating to a “strong-buy” rating and set a $73.00 price target for the company in a research report on Tuesday, May 16th. ValuEngine lowered Innospec from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Finally, BidaskClub lowered Innospec from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th.
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Shares of Innospec (IOSP) traded down 0.35% during midday trading on Thursday, hitting $56.85. The company’s stock had a trading volume of 16,534 shares. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 18.10 and a beta of 1.15. The firm has a 50-day moving average of $63.05 and a 200 day moving average of $64.51. Innospec has a 12-month low of $54.45 and a 12-month high of $74.75.
Innospec (NASDAQ:IOSP) last issued 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 business had revenue of $326.30 million during the quarter.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wasatch Advisors Inc. raised its position in Innospec by 116.5% in the second quarter. Wasatch Advisors Inc. now owns 191,699 shares of the specialty chemicals company’s stock worth $12,566,000 after buying an additional 103,152 shares during the period. Piedmont Investment Advisors LLC bought a new position in Innospec during the second quarter worth about $1,619,000. Westwood Holdings Group Inc. bought a new position in Innospec during the second quarter worth about $9,334,000. Assetmark Inc. raised its position in Innospec by 8.1% in the second quarter. Assetmark Inc. now owns 72,289 shares of the specialty chemicals company’s stock worth $4,739,000 after buying an additional 5,430 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in Innospec by 1.0% in the second quarter. The Manufacturers Life Insurance Company now owns 18,457 shares of the specialty chemicals company’s stock worth $1,210,000 after buying an additional 182 shares during the period. Hedge funds and other institutional investors own 91.53% of the company’s stock.
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.
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