Ingredion (NYSE:INGR) Issues FY 2024 Earnings Guidance

Ingredion (NYSE:INGR) updated its FY 2024 earnings guidance on Tuesday. 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 -. Ingredion also updated its FY24 guidance to $10.35-$10.65 EPS.

Analysts Set New Price Targets

Several brokerages have issued reports on INGR. BMO Capital Markets increased their target price on shares of Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a report on Wednesday. StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Barclays increased their target price on shares of Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday. Oppenheimer increased their target price on shares of Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, UBS Group increased their target price on shares of Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $151.00.

Ingredion Stock Down 0.3 %

NYSE:INGR opened at $150.00 on Friday. Ingredion has a fifty-two week low of $100.01 and a fifty-two week high of $155.44. The stock has a market capitalization of $9.76 billion, a P/E ratio of 15.34, a P/E/G ratio of 1.21 and a beta of 0.73. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.51 and a current ratio of 2.52. The company’s 50-day simple moving average is $135.87 and its 200-day simple moving average is $125.11.

Ingredion (NYSE:INGR) last released its earnings results on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.47. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Ingredion had a net margin of 8.47% and a return on equity of 17.18%. Ingredion’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period last year, the business earned $2.33 EPS. On average, equities analysts anticipate that Ingredion will post 10.05 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st were paid a $0.80 dividend. The ex-dividend date was Tuesday, October 1st. This is a boost from Ingredion’s previous quarterly dividend of $0.78. This represents a $3.20 dividend on an annualized basis and a yield of 2.13%. Ingredion’s dividend payout ratio (DPR) is 32.72%.

Insider Buying and Selling

In other Ingredion news, SVP Larry Fernandes sold 4,700 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $153.41, for a total transaction of $721,027.00. Following the completion of the transaction, the senior vice president now directly owns 29,034 shares of the company’s stock, valued at approximately $4,454,105.94. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO James P. Zallie sold 22,550 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $134.14, for a total value of $3,024,857.00. Following the completion of the transaction, the chief executive officer now directly owns 52,530 shares in the company, valued at $7,046,374.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Larry Fernandes sold 4,700 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $153.41, for a total transaction of $721,027.00. Following the completion of the transaction, the senior vice president now owns 29,034 shares of the company’s stock, valued at approximately $4,454,105.94. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,056 shares of company stock worth $4,121,736 in the last three months. Corporate insiders own 1.80% of the company’s stock.

Ingredion Company Profile

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.