Sunday, June 24, 2018

Brokerages Expect Innospec Inc. (IOSP) Will Post Earnings of $1.11 Per Share

Equities research analysts forecast that Innospec Inc. (NASDAQ:IOSP) will announce $1.11 earnings per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Innospec’s earnings. Innospec reported earnings of $1.16 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 4.3%. The company is expected to report its next quarterly earnings report on Tuesday, August 14th.

According to Zacks, analysts expect that Innospec will report full year earnings of $4.40 per share for the current financial year. For the next year, analysts expect that the firm will report earnings of $4.65 per share. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Innospec.

Get Innospec alerts:

Innospec (NASDAQ:IOSP) last released its quarterly earnings data on Tuesday, May 8th. The specialty chemicals company reported $1.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.11. The business had revenue of $360.70 million during the quarter, compared to analysts’ expectations of $308.90 million. Innospec had a net margin of 4.86% and a return on equity of 14.91%. The company’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.00 EPS.

Several equities research analysts have recently issued reports on the stock. BidaskClub raised shares of Innospec from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 7th. Zacks Investment Research raised shares of Innospec from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Friday, May 18th. ValuEngine cut shares of Innospec from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 2nd. Finally, Johnson Rice raised shares of Innospec from an “accumulate” rating to a “buy” rating in a research report on Tuesday, April 24th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $75.00.

In related news, VP Brian Watt sold 3,500 shares of the business’s stock in a transaction on Thursday, May 24th. The shares were sold at an average price of $75.32, for a total value of $263,620.00. Following the completion of the sale, the vice president now directly owns 26,349 shares of the company’s stock, valued at $1,984,606.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Ian Malcolm Mcrobbie sold 5,000 shares of the business’s stock in a transaction on Thursday, May 31st. The shares were sold at an average price of $76.71, for a total transaction of $383,550.00. Following the completion of the sale, the vice president now directly owns 35,889 shares of the company’s stock, valued at $2,753,045.19. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,841 shares of company stock valued at $1,209,657. Corporate insiders own 2.02% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in IOSP. Schwab Charles Investment Management Inc. lifted its position in Innospec by 5.7% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 167,152 shares of the specialty chemicals company’s stock valued at $11,801,000 after acquiring an additional 9,061 shares during the last quarter. Aperio Group LLC lifted its position in Innospec by 36.0% in the fourth quarter. Aperio Group LLC now owns 7,638 shares of the specialty chemicals company’s stock valued at $539,000 after acquiring an additional 2,022 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in Innospec in the fourth quarter valued at $586,000. California Public Employees Retirement System lifted its position in Innospec by 11.7% in the fourth quarter. California Public Employees Retirement System now owns 32,788 shares of the specialty chemicals company’s stock valued at $2,315,000 after acquiring an additional 3,437 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in Innospec by 2.0% in the fourth quarter. Wells Fargo & Company MN now owns 1,085,422 shares of the specialty chemicals company’s stock valued at $76,630,000 after acquiring an additional 21,708 shares during the last quarter. 91.72% of the stock is owned by hedge funds and other institutional investors.

Shares of Innospec traded up $0.85, hitting $79.85, during trading on Friday, Marketbeat reports. 179,136 shares of the stock were exchanged, compared to its average volume of 91,591. The stock has a market cap of $1.93 billion, a P/E ratio of 17.14 and a beta of 1.06. Innospec has a 12-month low of $54.10 and a 12-month high of $81.05. The company has a current ratio of 2.13, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24.

The company also recently disclosed a semiannual dividend, which was paid on Thursday, May 31st. Stockholders of record on Monday, May 21st were given a dividend of $0.44 per share. This is a boost from Innospec’s previous semiannual dividend of $0.39. This represents a dividend yield of 1.18%. The ex-dividend date of this dividend was Friday, May 18th. Innospec’s payout ratio is 37.77%.

Innospec Company Profile

Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals for use as fuel additives, ingredients for personal care, home care, agrochemical, mining and other applications, and oilfield chemicals worldwide. It operates through four segments: Fuel Specialties, Performance Chemicals, Oilfield Services, and Octane Additives.

Get a free copy of the Zacks research report on Innospec (IOSP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com