Ingredion (NYSE:INGR) Releases FY 2024 Earnings Guidance

Ingredion (NYSE:INGR) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 10.350-10.650 for the period, compared to the consensus EPS estimate of 9.970. The company issued revenue guidance of -.

Analysts Set New Price Targets

Several research firms have commented on INGR. UBS Group boosted their price target on shares of Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Oppenheimer lifted their price target on Ingredion from $138.00 to $147.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Barclays upgraded Ingredion from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $122.00 to $145.00 in a report on Friday, August 9th. StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Finally, BMO Capital Markets increased their price target on shares of Ingredion from $120.00 to $128.00 and gave the company a “market perform” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $138.83.

Ingredion Price Performance

Shares of INGR stock opened at $134.04 on Tuesday. Ingredion has a twelve month low of $95.07 and a twelve month high of $138.37. The company has a current ratio of 2.52, a quick ratio of 1.51 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $8.72 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 1.21 and a beta of 0.73. The firm has a fifty day simple moving average of $134.76 and a 200-day simple moving average of $124.46.

Ingredion (NYSE:INGR) last released its quarterly earnings data on Tuesday, August 6th. The company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.34. Ingredion had a net margin of 8.47% and a return on equity of 17.18%. The business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter last year, the company earned $2.32 EPS. The company’s revenue for the quarter was down 9.2% compared to the same quarter last year. Equities research analysts anticipate that Ingredion will post 10.05 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were issued a $0.80 dividend. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $3.20 annualized dividend and a dividend yield of 2.39%. Ingredion’s dividend payout ratio is 32.72%.

Insider Transactions at Ingredion

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