Ingredion (INGR) Set to Announce Quarterly Earnings on Tuesday

Ingredion (NYSE:INGR) will announce its earnings results before the market opens on Tuesday, August 6th. Analysts expect the company to announce earnings of $2.53 per share for the quarter. Ingredion has set its FY 2024 guidance at 9.200-9.850 EPS and its FY24 guidance at $9.20-$9.85 EPS.Parties that wish to listen to the company’s conference call can do so using this link.

Ingredion (NYSE:INGR) last posted its earnings results on Wednesday, May 8th. The company reported $2.08 EPS for the quarter, hitting the consensus estimate of $2.08. Ingredion had a return on equity of 16.56% and a net margin of 8.45%. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter last year, the company earned $2.80 EPS. Ingredion’s revenue was down 11.9% on a year-over-year basis. On average, analysts expect Ingredion to post $10 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Ingredion Stock Performance

Shares of NYSE:INGR opened at $121.47 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.44 and a quick ratio of 1.39. The business’s fifty day moving average price is $116.04 and its two-hundred day moving average price is $114.77. Ingredion has a fifty-two week low of $89.54 and a fifty-two week high of $122.18. The stock has a market capitalization of $7.97 billion, a price-to-earnings ratio of 12.17, a price-to-earnings-growth ratio of 1.14 and a beta of 0.72.

Ingredion Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 1st were paid a $0.78 dividend. The ex-dividend date was Monday, July 1st. This represents a $3.12 annualized dividend and a dividend yield of 2.57%. Ingredion’s dividend payout ratio is presently 31.26%.

Analysts Set New Price Targets

INGR has been the subject of several analyst reports. StockNews.com downgraded shares of Ingredion from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 11th. BMO Capital Markets lifted their target price on shares of Ingredion from $117.00 to $120.00 and gave the company a “market perform” rating in a research note on Thursday, May 9th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $127.17.

Insider Buying and Selling at Ingredion

In other news, CEO James P. Zallie sold 27,500 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $116.36, for a total transaction of $3,199,900.00. Following the transaction, the chief executive officer now directly owns 52,197 shares in the company, valued at $6,073,642.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO James D. Gray sold 8,490 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $121.74, for a total value of $1,033,572.60. Following the transaction, the chief financial officer now owns 42,833 shares in the company, valued at $5,214,489.42. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James P. Zallie sold 27,500 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $116.36, for a total value of $3,199,900.00. Following the sale, the chief executive officer now directly owns 52,197 shares of the company’s stock, valued at $6,073,642.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,359 shares of company stock worth $4,515,644. 1.80% of the stock is currently owned by corporate insiders.

Ingredion Company Profile

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.