Innospec (NASDAQ:IOSP) released its quarterly earnings data on Tuesday. The specialty chemicals company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.04, MarketWatch Earnings reports. Innospec had a net margin of 2.92% and a return on equity of 9.14%. The company had revenue of $339.30 million during the quarter, compared to analysts’ expectations of $306.20 million. During the same quarter in the previous year, the company earned $1.42 earnings per share. The firm’s revenue for the quarter was down 8.9% on a year-over-year basis.
IOSP traded up $0.33 during mid-day trading on Tuesday, hitting $98.69. 96,976 shares of the stock were exchanged, compared to its average volume of 96,708. The company has a market cap of $2.43 billion, a PE ratio of 66.23 and a beta of 1.34. Innospec has a 1-year low of $61.48 and a 1-year high of $107.73. The firm’s fifty day moving average is $101.38 and its two-hundred day moving average is $91.93.
A number of research analysts have recently issued reports on IOSP shares. CL King increased their target price on Innospec from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, January 15th. Zacks Investment Research raised shares of Innospec from a “strong sell” rating to a “hold” rating in a research note on Tuesday.
Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals in the United States, rest of North America, the United Kingdom, rest of Europe, and internationally. It operates through Fuel Specialties, Performance Chemicals, and Oilfield Services segments. The Fuel Specialties segment offers a range of specialty chemical products used as additives in various fuels.
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