Ingredion Inc Up 0.64% To $111.29 After Earnings

February 6, 2024 | by magnews24.com

Ingredion Inc (INGR) said before open Tuesday that it broke even in quarter four 2023.

In the same quarter a year ago, the company earned $1.65 per share on revenue of $2 billion.

The stock is up 0.64% to $111.29 after the report.

Ingredion Inc’s profit margins maintained as both earnings and revenue declined at the same pace.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Ingredion Inc a Bullish Sentiment Rank from InvestorsObserver.

Ingredion Inc has performed a little above average during the past few months. Before the report, Ingredion Inc received a Long-Term Technical Rank by InvestorsObserver of 73, putting it in the top half of stocks. The firm set a 52-week low on October 24, 2023 at $89.54 and set a 52-week high on May 22, 2023 at $113.46.

Ingredion manufactures ingredients for the food, beverage, paper, and personal-care industries. Sweeteners (syrups, maltodextrins, dextrose, and polyols) account for about 35% of sales, starches (for food and industrial use) around 45%, and co-products the balance. Value-added, specialty ingredients account for roughly one third of sales, with the balance being commodity-grade ingredients. With the majority of sales outside the U.S., Ingredion is a global player with good exposure to developing markets, including Latin America and Asia-Pacific.

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