Ingredion (NYSE:INGR) Releases Earnings Results

Ingredion (NYSE:INGR) issued its earnings results on Thursday. The company reported $1.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.73 by $0.09, reports. The company had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Ingredion had a net margin of 6.67% and a return on equity of 17.69%. The firm’s revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.70 earnings per share. Ingredion updated its FY19 guidance to $6.45-6.65 EPS.

Shares of Ingredion stock traded up $3.19 during trading on Friday, hitting $82.19. 1,170,875 shares of the stock were exchanged, compared to its average volume of 344,809. The stock’s fifty day moving average is $80.52 and its 200 day moving average is $81.43. The stock has a market cap of $5.27 billion, a PE ratio of 11.88 and a beta of 0.81. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.51 and a current ratio of 2.45. Ingredion has a 12 month low of $73.00 and a 12 month high of $107.52.

The company also recently declared a 0.62500 dividend, which was paid on Friday, October 25th. Stockholders of record on Tuesday, October 1st were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a dividend yield of 3%. Ingredion’s dividend payout ratio is currently 36.42%.

In other news, SVP Larry Fernandes sold 2,200 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $82.53, for a total transaction of $181,566.00. Following the completion of the transaction, the senior vice president now owns 15,172 shares in the company, valued at $1,252,145.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.56% of the stock is currently owned by corporate insiders.

A number of brokerages have weighed in on INGR. Citigroup dropped their target price on shares of Ingredion from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. Credit Suisse Group dropped their target price on shares of Ingredion from $85.00 to $77.00 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd. They noted that the move was a valuation call. Zacks Investment Research raised shares of Ingredion from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Stephens began coverage on shares of Ingredion in a research report on Monday, October 7th. They set an “overweight” rating and a $97.00 price target for the company. Finally, ValuEngine upgraded shares of Ingredion from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Ingredion currently has a consensus rating of “Hold” and an average price target of $101.00.

Ingredion Company Profile

Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. The company operates through four segments: North America, South America, Asia Pacific and Europe, and Middle East and Africa. It offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, glucose and syrup solids, as well as food-grade and industrial starches, and biomaterials.

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Earnings History for Ingredion (NYSE:INGR)

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