Ingredion (NYSE:INGR) Issues Quarterly Earnings Results, Beats Estimates By $0.23 EPS

Ingredion (NYSE:INGR) announced its earnings results on Tuesday. The company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.23, MarketWatch Earnings reports. The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Ingredion had a net margin of 5.75% and a return on equity of 15.30%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.59 EPS. Ingredion updated its Q2 2021 guidance to – EPS.

Shares of NYSE:INGR traded down $0.33 during trading on Tuesday, hitting $94.13. The company’s stock had a trading volume of 18,134 shares, compared to its average volume of 491,546. Ingredion has a fifty-two week low of $68.71 and a fifty-two week high of $95.00. The business has a 50 day moving average price of $91.57 and a two-hundred day moving average price of $83.13. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.59 and a current ratio of 2.54. The company has a market capitalization of $6.33 billion, a PE ratio of 18.38 and a beta of 0.74.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 26th. Shareholders of record on Thursday, April 1st were given a $0.64 dividend. The ex-dividend date was Wednesday, March 31st. This represents a $2.56 annualized dividend and a yield of 2.72%. Ingredion’s dividend payout ratio is presently 38.50%.

Several research firms have recently weighed in on INGR. Credit Suisse Group boosted their price target on shares of Ingredion from $77.00 to $82.00 and gave the stock a “neutral” rating in a research report on Thursday, February 4th. Zacks Investment Research lowered shares of Ingredion from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, TheStreet upgraded Ingredion from a “c+” rating to a “b” rating in a research report on Thursday, February 4th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $95.25.

In other Ingredion news, SVP Larry Fernandes sold 750 shares of the stock in a transaction dated Wednesday, February 24th. The stock was sold at an average price of $92.00, for a total value of $69,000.00. Following the sale, the senior vice president now owns 16,393 shares of the company’s stock, valued at approximately $1,508,156. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 1,502 shares of company stock worth $132,923. Insiders own 1.15% of the company’s stock.

Ingredion Company Profile

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

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Earnings History for Ingredion (NYSE:INGR)

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