Ingredion (INGR) Set to Announce Quarterly Earnings on Wednesday

Ingredion (NYSE:INGR) is scheduled to post its quarterly earnings results before the market opens on Wednesday, May 8th. Analysts expect Ingredion to post earnings of $2.08 per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Ingredion (NYSE:INGR) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.10. Ingredion had a net margin of 7.88% and a return on equity of 18.57%. The company had revenue of $1.92 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same period in the prior year, the business posted $1.65 EPS. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. On average, analysts expect Ingredion to post $10 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Ingredion Price Performance

Shares of NYSE:INGR opened at $115.37 on Tuesday. The stock’s 50 day moving average price is $115.21 and its 200 day moving average price is $109.13. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.92 and a quick ratio of 1.10. The stock has a market cap of $7.57 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 1.08 and a beta of 0.81. Ingredion has a 12 month low of $89.54 and a 12 month high of $118.83.

Ingredion Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 23rd. Investors of record on Monday, April 1st were paid a dividend of $0.78 per share. The ex-dividend date was Thursday, March 28th. This represents a $3.12 annualized dividend and a yield of 2.70%. Ingredion’s dividend payout ratio is currently 32.50%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on INGR shares. The Goldman Sachs Group raised Ingredion from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $122.00 to $135.00 in a research note on Thursday, February 15th. Stephens restated an “overweight” rating and issued a $130.00 price objective on shares of Ingredion in a research note on Wednesday, February 7th. StockNews.com upgraded shares of Ingredion from a “buy” rating to a “strong-buy” rating in a report on Friday, March 22nd. Finally, Barclays raised their price objective on shares of Ingredion from $115.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 6th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $126.67.

Insider Activity at Ingredion

In other Ingredion news, CEO James P. Zallie sold 54,581 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $117.24, for a total transaction of $6,399,076.44. Following the completion of the transaction, the chief executive officer now owns 99,246 shares in the company, valued at $11,635,601.04. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, VP Davida Marie Gable sold 1,968 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $117.38, for a total transaction of $231,003.84. Following the completion of the sale, the vice president now owns 1,723 shares in the company, valued at approximately $202,245.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James P. Zallie sold 54,581 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $117.24, for a total transaction of $6,399,076.44. Following the completion of the transaction, the chief executive officer now owns 99,246 shares in the company, valued at $11,635,601.04. The disclosure for this sale can be found here. Insiders have sold a total of 58,921 shares of company stock valued at $6,903,045 over the last quarter. 1.80% of the stock is owned by company insiders.

About Ingredion

Ingredion Incorporated, together with its subsidiaries, manufactures and sells sweeteners, starches, nutrition ingredients, and biomaterial solutions derived from wet milling and processing corn, and other starch-based materials to a range of industries in North America, South America, the Asia Pacific, Europe, the Middle East, and Africa.