Analysts Issue Forecasts for Ingredion Inc’s FY2022 Earnings (INGR)
Ingredion Inc (NYSE:INGR) – Equities researchers at Jefferies Financial Group issued their FY2022 earnings per share (EPS) estimates for shares of Ingredion in a report issued on Monday, November 19th. Jefferies Financial Group analyst A. Jagdale expects that the company will earn $10.40 per share for the year. Jefferies Financial Group currently has a “Buy” rating and a $145.00 price objective on the stock.
Ingredion (NYSE:INGR) last released its quarterly earnings data on Thursday, November 1st. The company reported $1.70 EPS for the quarter, meeting analysts’ consensus estimates of $1.70. The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.46 billion. Ingredion had a return on equity of 17.55% and a net margin of 7.40%. The firm’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.21 earnings per share.
NYSE INGR opened at $104.21 on Tuesday. The stock has a market capitalization of $7.38 billion, a P/E ratio of 13.53, a P/E/G ratio of 1.37 and a beta of 0.64. The company has a quick ratio of 1.53, a current ratio of 2.50 and a debt-to-equity ratio of 0.55. Ingredion has a 12 month low of $89.48 and a 12 month high of $146.28.
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 25th. Shareholders of record on Monday, October 1st were paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 2.40%. This is a boost from Ingredion’s previous quarterly dividend of $0.60. The ex-dividend date was Friday, September 28th. Ingredion’s payout ratio is presently 32.47%.
In other Ingredion news, VP Christine M. Castellano sold 37,267 shares of the business’s stock in a transaction dated Tuesday, November 6th. The stock was sold at an average price of $105.30, for a total value of $3,924,215.10. Following the completion of the transaction, the vice president now directly owns 28,168 shares of the company’s stock, valued at $2,966,090.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Barbara A. Klein sold 1,775 shares of the business’s stock in a transaction dated Wednesday, November 14th. The shares were sold at an average price of $103.46, for a total value of $183,641.50. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the company. Point72 Hong Kong Ltd acquired a new position in shares of Ingredion during the second quarter worth about $153,000. Legacy Financial Advisors Inc. boosted its position in shares of Ingredion by 382.7% during the third quarter. Legacy Financial Advisors Inc. now owns 1,559 shares of the company’s stock worth $163,000 after buying an additional 1,236 shares during the period. Fuller & Thaler Asset Management Inc. boosted its position in shares of Ingredion by 42.2% during the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,685 shares of the company’s stock worth $187,000 after buying an additional 500 shares during the period. People s United Financial Inc. acquired a new position in shares of Ingredion during the third quarter worth about $202,000. Finally, Lido Advisors LLC acquired a new position in shares of Ingredion during the third quarter worth about $248,000. 86.25% of the stock is owned by institutional investors.
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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