Ingredion Incorporated (INGR) Set to Announce Quarterly Earnings on Wednesday
Ingredion Incorporated (NYSE:INGR) is set to announce its earnings results before the market opens on Wednesday, November 1st. Analysts expect the company to announce earnings of $2.04 per share for the quarter. Ingredion has set its FY17 guidance at $7.50-7.80 EPS.
Ingredion (NYSE:INGR) last issued its earnings results on Tuesday, August 1st. The company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.03. Ingredion had a net margin of 8.35% and a return on equity of 20.84%. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the business posted $1.53 earnings per share. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. On average, analysts expect Ingredion to post $7.61 EPS for the current fiscal year and $8.27 EPS for the next fiscal year.
Ingredion Incorporated (NYSE:INGR) opened at 124.85 on Wednesday. The firm’s 50-day moving average is $123.01 and its 200 day moving average is $120.72. Ingredion Incorporated has a 12 month low of $113.07 and a 12 month high of $137.62. The firm has a market capitalization of $8.96 billion, a price-to-earnings ratio of 18.78 and a beta of 0.59.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Monday, October 2nd will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.92%. This is an increase from Ingredion’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, September 29th. Ingredion’s payout ratio is 36.09%.
INGR has been the topic of a number of recent analyst reports. BMO Capital Markets restated a “hold” rating and set a $125.00 price target on shares of Ingredion in a research report on Tuesday, June 27th. BidaskClub upgraded shares of Ingredion from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 5th. Finally, Zacks Investment Research upgraded shares of Ingredion from a “hold” rating to a “buy” rating and set a $137.00 target price on the stock in a report on Friday, August 4th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $140.00.
In other news, VP James P. Zallie sold 21,862 shares of Ingredion stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $125.04, for a total value of $2,733,624.48. Following the transaction, the vice president now directly owns 29,306 shares of the company’s stock, valued at $3,664,422.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP James P. Zallie sold 27,972 shares of Ingredion stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $125.39, for a total transaction of $3,507,409.08. Following the completion of the transaction, the vice president now directly owns 29,429 shares in the company, valued at $3,690,102.31. The disclosure for this sale can be found here. Insiders sold a total of 52,882 shares of company stock worth $6,622,034 over the last quarter. Insiders own 1.92% of the company’s stock.
Ingredion Company Profile
Ingredion Incorporated is an ingredients solutions provider. The Company manufactures and sells sweetener, starches, nutrition ingredients and biomaterial solutions derived from the wet milling and processing of corn and other starch-based materials to a range of industries, both domestically and internationally.
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