Ingredion (NYSE:INGR) Releases FY 2024 Earnings Guidance

by · The Markets Daily

Ingredion (NYSE:INGR – Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 10.350-10.650 for the period, compared to the consensus estimate of 9.970. The company issued revenue guidance of -. Ingredion also updated its FY24 guidance to $10.35-$10.65 EPS.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Oppenheimer lifted their target price on Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a research note on Wednesday. Barclays upped their price objective on shares of Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday. StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. UBS Group lifted their target price on shares of Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Finally, BMO Capital Markets increased their price target on shares of Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a report on Wednesday. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Ingredion currently has a consensus rating of “Moderate Buy” and an average price target of $151.00.

View Our Latest Stock Report on INGR

Ingredion Stock Performance

Shares of Ingredion stock traded down $5.01 during trading on Wednesday, reaching $149.85. The company’s stock had a trading volume of 719,796 shares, compared to its average volume of 376,513. The company has a quick ratio of 1.51, a current ratio of 2.52 and a debt-to-equity ratio of 0.47. The business’s 50-day moving average price is $135.21 and its 200-day moving average price is $124.75. Ingredion has a 52 week low of $96.20 and a 52 week high of $155.44. The firm has a market cap of $9.75 billion, a PE ratio of 15.69, a P/E/G ratio of 1.21 and a beta of 0.73.

Ingredion (NYSE:INGR – Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.47. Ingredion had a net margin of 8.47% and a return on equity of 17.18%. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the firm posted $2.33 EPS. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. Equities analysts forecast that Ingredion will post 10.05 earnings per share for the current year.

Ingredion Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date was Tuesday, October 1st. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s dividend payout ratio (DPR) is 32.72%.

Insider Activity

In related news, CEO James P. Zallie sold 371 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $133.58, for a total transaction of $49,558.18. Following the completion of the sale, the chief executive officer now owns 52,159 shares of the company’s stock, valued at $6,967,399.22. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Ingredion news, CEO James P. Zallie sold 371 shares of the company’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $133.58, for a total transaction of $49,558.18. Following the completion of the sale, the chief executive officer now directly owns 52,159 shares in the company, valued at $6,967,399.22. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James P. Zallie sold 22,550 shares of Ingredion stock in a transaction on Friday, August 30th. The shares were sold at an average price of $134.14, for a total value of $3,024,857.00. Following the completion of the transaction, the chief executive officer now owns 52,530 shares in the company, valued at approximately $7,046,374.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 25,356 shares of company stock worth $3,400,709. 1.80% of the stock is currently owned by company insiders.

Ingredion Company Profile

(Get Free Report)

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.

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