Sensient Technologies (NYSE:SXT) Issues Earnings Results, Beats Expectations By $0.02 EPS

Sensient Technologies (NYSE:SXT) issued its earnings results on Friday. The specialty chemicals company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.02, Briefing.com reports. Sensient Technologies had a net margin of 5.83% and a return on equity of 11.25%. The company had revenue of $392.61 million for the quarter, compared to analyst estimates of $390.64 million. During the same period in the prior year, the business posted $0.75 earnings per share. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. Sensient Technologies updated its FY 2024 guidance to 2.770-2.870 EPS and its FY24 guidance to $2.77 to $2.87 EPS.

Sensient Technologies Price Performance

Shares of SXT traded up $0.93 during mid-day trading on Friday, reaching $78.42. 27,611 shares of the company’s stock were exchanged, compared to its average volume of 174,268. Sensient Technologies has a 52-week low of $55.02 and a 52-week high of $82.99. The company has a quick ratio of 1.72, a current ratio of 4.16 and a debt-to-equity ratio of 0.60. The company has a 50-day simple moving average of $76.60 and a two-hundred day simple moving average of $75.25. The company has a market cap of $3.32 billion, a price-to-earnings ratio of 37.43 and a beta of 0.75.

Analysts Set New Price Targets

SXT has been the topic of a number of research reports. StockNews.com cut Sensient Technologies from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Robert W. Baird lifted their price target on Sensient Technologies from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th.

Insider Buying and Selling at Sensient Technologies

In related news, Director Gebhardt Deborah Mckeithan sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $71.08, for a total transaction of $142,160.00. Following the transaction, the director now owns 15,162 shares of the company’s stock, valued at approximately $1,077,714.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.40% of the stock is owned by insiders.

Sensient Technologies Company Profile

Sensient Technologies Corporation, together with its subsidiaries, develops, manufactures, and markets colors, flavors, and other specialty ingredients in North America, Europe, Asia, Australia, South America, and Africa. The company offers flavor-delivery systems, and compounded and blended products; ingredient products, such as essential oils, natural and synthetic flavors, and natural extracts; and chili powder, paprika, and chili pepper, as well as dehydrated vegetables comprising parsley, celery, and spinach to the food, beverage, and personal care industries.