Ingredion (NYSE:INGR) Releases FY 2019 Earnings Guidance

Ingredion (NYSE:INGR) updated its FY 2019 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $6.60-6.90 for the period, compared to the Thomson Reuters consensus estimate of $6.81. Ingredion also updated its FY19 guidance to $6.60-6.90 EPS.

Several brokerages have recently commented on INGR. Credit Suisse Group decreased their price objective on Ingredion from $85.00 to $77.00 and set a neutral rating for the company in a report on Tuesday, July 23rd. They noted that the move was a valuation call. TheStreet lowered Ingredion from a b- rating to a c+ rating in a report on Tuesday, May 7th. Finally, Zacks Investment Research upgraded Ingredion from a sell rating to a hold rating in a report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The stock has an average rating of Hold and an average target price of $103.67.

INGR stock traded down $2.33 during midday trading on Friday, reaching $78.53. The stock had a trading volume of 611,833 shares, compared to its average volume of 677,329. The firm has a market cap of $5.39 billion, a PE ratio of 11.35 and a beta of 0.85. The company has a current ratio of 2.48, a quick ratio of 1.45 and a debt-to-equity ratio of 0.79. The firm has a fifty day simple moving average of $81.35. Ingredion has a 52-week low of $75.67 and a 52-week high of $107.52.

Ingredion (NYSE:INGR) last issued its earnings results on Thursday, August 1st. The company reported $1.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.60 by $0.06. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.47 billion. Ingredion had a return on equity of 17.23% and a net margin of 6.61%. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the business posted $1.66 EPS. As a group, research analysts forecast that Ingredion will post 6.68 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Monday, July 1st were paid a $0.625 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $2.50 dividend on an annualized basis and a yield of 3.18%. Ingredion’s dividend payout ratio (DPR) is 36.13%.

In other news, CFO James D. Gray bought 1,000 shares of Ingredion stock in a transaction that occurred on Friday, May 24th. The stock was bought at an average price of $78.37 per share, for a total transaction of $78,370.00. Following the purchase, the chief financial officer now directly owns 15,222 shares of the company’s stock, valued at approximately $1,192,948.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.56% of the company’s stock.

Ingredion Company Profile

Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. The company operates through four segments: North America, South America, Asia Pacific and Europe, and Middle East and Africa. It offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, glucose and syrup solids, as well as food-grade and industrial starches, and biomaterials.

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Earnings History and Estimates for Ingredion (NYSE:INGR)

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