Ingredion Incorporated (NYSE:INGR) Releases FY17 Earnings Guidance

Ingredion Incorporated (NYSE:INGR) updated its FY17 earnings guidance on Tuesday. The company provided earnings per share guidance of $7.50-7.80 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $7.58.

Several analysts recently issued reports on the company. BidaskClub raised Ingredion from a strong sell rating to a sell rating in a research note on Wednesday. Zacks Investment Research raised Ingredion from a hold rating to a buy rating and set a $137.00 target price on the stock in a research note on Friday, August 4th. BMO Capital Markets reissued a hold rating and set a $125.00 target price on shares of Ingredion in a research note on Tuesday, June 27th. Finally, Jefferies Group LLC reaffirmed a buy rating and issued a $145.00 price objective on shares of Ingredion in a research note on Wednesday, June 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The company has an average rating of Hold and an average target price of $140.50.

Ingredion Incorporated (NYSE INGR) opened at 121.74 on Friday. The company’s 50-day moving average price is $121.02 and its 200-day moving average price is $119.88. Ingredion Incorporated has a 12-month low of $113.07 and a 12-month high of $140.00. The stock has a market cap of $8.73 billion, a PE ratio of 18.31 and a beta of 0.60.

Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, August 1st. The company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.03. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Ingredion had a return on equity of 20.84% and a net margin of 8.35%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.53 earnings per share. On average, equities analysts expect that Ingredion Incorporated will post $7.64 EPS for the current fiscal year.

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Ingredion Company Profile

Ingredion Incorporated is an ingredients solutions provider. The Company manufactures and sells sweetener, starches, nutrition ingredients and biomaterial solutions derived from the wet milling and processing of corn and other starch-based materials to a range of industries, both domestically and internationally.

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