Innospec (NASDAQ:IOSP) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Innospec (NASDAQ:IOSP) released its quarterly earnings results on Tuesday. The specialty chemicals company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.03, FiscalAI reports. Innospec had a return on equity of 9.22% and a net margin of 6.60%. The company had revenue of $473.60 million for the quarter, compared to analysts’ expectations of $479.17 million.

Innospec Price Performance

Shares of IOSP stock traded down $0.32 during trading hours on Tuesday, reaching $99.23. The company had a trading volume of 270,998 shares, compared to its average volume of 208,543. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 20.25, a price-to-earnings-growth ratio of 2.68 and a beta of 0.88. Innospec has a 12 month low of $65.51 and a 12 month high of $102.00. The business has a fifty day simple moving average of $96.15 and a 200-day simple moving average of $84.51.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on IOSP. Wall Street Zen downgraded shares of Innospec from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 26th. Seaport Research Partners reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Innospec in a research note on Thursday, August 6th. Finally, Weiss Ratings upgraded shares of Innospec from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Two analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Innospec Company Profile

Innospec Inc (NASDAQ: IOSP) is a global specialty chemicals company that develops, manufactures and markets products used in the fuel, oilfield, personal care and industrial markets. The company serves customers through a portfolio of chemical additives, formulations and technical services designed to improve product performance, efficiency and reliability.

Innospec operates through businesses focused on fuel specialties, performance chemicals and oilfield services. Its fuel-related products include fuel additives for gasoline, diesel, marine and other applications, including detergents, lubricity improvers, cetane improvers and other performance-enhancing formulations.