Zacks: Brokerages Anticipate Innospec Inc. (IOSP) Will Post Earnings of $0.85 Per Share
Wall Street analysts forecast that Innospec Inc. (NASDAQ:IOSP) will post earnings per share of $0.85 for the current quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Innospec’s earnings. Innospec reported earnings of $0.78 per share during the same quarter last year, which indicates a positive year over year growth rate of 9%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, November 1st.
On average, analysts expect that Innospec will report full-year earnings of $4.15 per share for the current financial year. For the next fiscal year, analysts anticipate that the company will report earnings of $4.35 per share. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Innospec.
Innospec (NASDAQ:IOSP) last announced its quarterly earnings data on Tuesday, August 8th. The specialty chemicals company reported $1.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.08. Innospec had a net margin of 7.22% and a return on equity of 14.77%. The firm had revenue of $326.30 million during the quarter.
IOSP has been the subject of several recent analyst reports. Monness Crespi & Hardt upgraded Innospec from a “neutral” rating to a “buy” rating and set a $65.00 price target for the company in a report on Tuesday, August 22nd. Zacks Investment Research upgraded Innospec from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a report on Wednesday, August 16th. ValuEngine cut Innospec from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Finally, BidaskClub cut Innospec from a “hold” rating to a “sell” rating in a report on Thursday, June 22nd.
A number of institutional investors and hedge funds have recently bought and sold shares of IOSP. SG Americas Securities LLC purchased a new stake in Innospec in the 2nd quarter valued at about $106,000. Ameritas Investment Partners Inc. purchased a new stake in Innospec in the 1st quarter valued at about $132,000. Victory Capital Management Inc. grew its holdings in Innospec by 18.1% in the 1st quarter. Victory Capital Management Inc. now owns 2,311 shares of the specialty chemicals company’s stock valued at $150,000 after buying an additional 354 shares during the period. State of Alaska Department of Revenue grew its holdings in Innospec by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 2,660 shares of the specialty chemicals company’s stock valued at $172,000 after buying an additional 70 shares during the period. Finally, Pinebridge Investments L.P. grew its holdings in Innospec by 1.3% in the 2nd quarter. Pinebridge Investments L.P. now owns 3,180 shares of the specialty chemicals company’s stock valued at $209,000 after buying an additional 41 shares during the period. Institutional investors own 91.70% of the company’s stock.
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Shares of Innospec (IOSP) traded down 1.89% on Thursday, reaching $54.40. 46,745 shares of the company’s stock traded hands. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 17.32 and a beta of 1.18. Innospec has a 52 week low of $54.10 and a 52 week high of $74.75. The stock’s 50-day moving average price is $59.31 and its 200-day moving average price is $63.01.
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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