Ingles Markets, Incorporated (IMKTA) Expected to Earn FY2018 Earnings of $2.95 Per Share

Ingles Markets, Incorporated (NASDAQ:IMKTA) – Equities research analysts at Gabelli raised their FY2018 earnings estimates for Ingles Markets in a research report issued on Monday. Gabelli analyst D. Witkowski now forecasts that the company will post earnings of $2.95 per share for the year, up from their prior estimate of $2.85. Gabelli also issued estimates for Ingles Markets’ FY2019 earnings at $3.30 EPS, FY2020 earnings at $3.60 EPS and FY2022 earnings at $4.30 EPS.

IMKTA has been the topic of several other research reports. Zacks Investment Research cut Ingles Markets from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. BidaskClub upgraded Ingles Markets from a “hold” rating to a “buy” rating in a research note on Tuesday, December 12th. Finally, TheStreet upgraded Ingles Markets from a “c+” rating to a “b-” rating in a research note on Tuesday, December 26th.

Ingles Markets (NASDAQ IMKTA) traded down $1.40 during trading hours on Tuesday, hitting $30.55. The stock had a trading volume of 130,100 shares, compared to its average volume of 109,919. Ingles Markets has a fifty-two week low of $20.75 and a fifty-two week high of $48.35. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.81 and a quick ratio of 0.37. The company has a market cap of $647.28, a PE ratio of 7.26, a PEG ratio of 3.50 and a beta of 0.60.

Ingles Markets (NASDAQ:IMKTA) last released its quarterly earnings data on Thursday, December 7th. The company reported $0.96 earnings per share for the quarter. Ingles Markets had a return on equity of 16.66% and a net margin of 2.11%. The business had revenue of $1.09 billion for the quarter.

The company also recently announced a quarterly dividend, which was paid on Thursday, January 18th. Shareholders of record on Thursday, January 11th were paid a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend was Wednesday, January 10th. Ingles Markets’s payout ratio is 15.68%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. increased its position in shares of Ingles Markets by 27.2% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 191,278 shares of the company’s stock worth $4,916,000 after purchasing an additional 40,946 shares during the last quarter. Teton Advisors Inc. increased its position in shares of Ingles Markets by 5.5% during the 3rd quarter. Teton Advisors Inc. now owns 177,224 shares of the company’s stock worth $4,555,000 after purchasing an additional 9,224 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Ingles Markets by 29.9% during the 3rd quarter. Prudential Financial Inc. now owns 347,596 shares of the company’s stock worth $8,933,000 after purchasing an additional 79,940 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Ingles Markets by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,032,352 shares of the company’s stock worth $34,378,000 after purchasing an additional 33,192 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Ingles Markets by 2.2% during the 2nd quarter. Northern Trust Corp now owns 282,597 shares of the company’s stock worth $9,410,000 after purchasing an additional 5,976 shares during the last quarter. Hedge funds and other institutional investors own 59.15% of the company’s stock.

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About Ingles Markets

Ingles Markets, Incorporated (Ingles) is a supermarket chain in the southeast United States. The Company’s segments include retail grocery and other. Its other segment consists of fluid dairy operations and shopping center rentals. As of September 24, 2016, the Company operated 201 supermarkets in Georgia, North Carolina, South Carolina, Tennessee, Virginia and Alabama.

Earnings History and Estimates for Ingles Markets (NASDAQ:IMKTA)

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