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

Sensient Technologies (NYSE:SXT) announced 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. The business had revenue of $392.61 million during the quarter, compared to the consensus estimate of $390.64 million. Sensient Technologies had a net margin of 5.83% and a return on equity of 11.25%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.75 earnings per share. 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 Stock Performance

NYSE SXT traded up $0.93 during trading hours on Friday, hitting $78.42. 27,611 shares of the stock were exchanged, compared to its average volume of 174,268. 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 market cap of $3.32 billion, a price-to-earnings ratio of 37.43 and a beta of 0.75. Sensient Technologies has a 12-month low of $55.02 and a 12-month high of $82.99. The stock has a 50-day moving average of $76.60 and a 200 day moving average of $75.25.

Insider Buying and Selling at Sensient Technologies

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SXT shares. Robert W. Baird increased their price objective on Sensient Technologies from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. StockNews.com downgraded Sensient Technologies from a “buy” rating to a “hold” rating in a report on Thursday, July 25th.

About Sensient Technologies

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.