Ingredion (NYSE:INGR) Releases FY 2024 Earnings Guidance

Ingredion (NYSE:INGR) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 10.350-10.650 for the period, compared to the consensus earnings per share estimate of 9.970. The company issued revenue guidance of -. Ingredion also updated its FY24 guidance to $10.35-$10.65 EPS.

Wall Street Analyst Weigh In

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

Ingredion Trading Down 3.2 %

Shares of NYSE:INGR traded down $5.01 during trading on Wednesday, reaching $149.85. The stock had a trading volume of 719,796 shares, compared to its average volume of 376,513. Ingredion has a 52 week low of $96.20 and a 52 week high of $155.44. 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 firm’s fifty day moving average is $135.21 and its 200 day moving average is $124.75. The stock has a market cap of $9.75 billion, a price-to-earnings ratio of 15.69, a P/E/G ratio of 1.21 and a beta of 0.73.

Ingredion (NYSE:INGR) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.47. Ingredion had a net margin of 8.47% and a return on equity of 17.18%. The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the prior year, the firm posted $2.33 earnings per share. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. As a group, equities analysts forecast that Ingredion will post 10.05 EPS for the current fiscal year.

Ingredion Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $3.20 annualized dividend and a yield of 2.14%. This is a boost from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s dividend payout ratio (DPR) is currently 32.72%.

Insiders Place Their Bets

In related news, CEO James P. Zallie sold 1,000 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $134.02, for a total transaction of $134,020.00. Following the transaction, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at $7,040,070.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO James P. Zallie sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $134.02, for a total transaction of $134,020.00. Following the transaction, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at approximately $7,040,070.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James P. Zallie sold 22,550 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at $7,046,374.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,356 shares of company stock worth $3,400,709. 1.80% of the stock is owned by corporate insiders.

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.