Analysts Anticipate Innospec Inc. (IOSP) Will Post Earnings of $1.32 Per Share

Wall Street analysts expect that Innospec Inc. (NASDAQ:IOSP) will post earnings of $1.32 per share for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Innospec’s earnings. Innospec reported earnings per share of $1.47 during the same quarter last year, which suggests a negative year over year growth rate of 10.2%. The firm is expected to report its next quarterly earnings results on Tuesday, February 12th.

According to Zacks, analysts expect that Innospec will report full-year earnings of $4.35 per share for the current year. For the next financial year, analysts forecast that the firm will post earnings of $4.75 per share. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Innospec.

Innospec (NASDAQ:IOSP) last posted its quarterly earnings data on Tuesday, November 6th. The specialty chemicals company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.14. Innospec had a return on equity of 14.13% and a net margin of 4.17%. The firm had revenue of $363.10 million during the quarter, compared to analysts’ expectations of $362.50 million. During the same period in the prior year, the business earned $1.00 EPS. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year.

A number of research firms have recently issued reports on IOSP. BidaskClub upgraded Innospec from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 11th. KeyCorp boosted their target price on Innospec from $80.00 to $86.00 and gave the company an “overweight” rating in a research note on Friday, July 13th. Zacks Investment Research raised Innospec from a “sell” rating to a “hold” rating in a research note on Wednesday, September 26th. Finally, ValuEngine raised Innospec from a “hold” rating to a “buy” rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Innospec currently has a consensus rating of “Buy” and an average target price of $85.50.

Shares of IOSP traded up $1.24 during midday trading on Thursday, reaching $76.25. The stock had a trading volume of 1,898 shares, compared to its average volume of 71,588. Innospec has a 12-month low of $62.13 and a 12-month high of $83.20. The company has a current ratio of 2.28, a quick ratio of 1.34 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $1.66 billion, a P/E ratio of 16.36 and a beta of 1.10.

The firm also recently declared a dividend, which will be paid on Thursday, November 29th. Shareholders of record on Monday, November 19th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, November 16th. Innospec’s payout ratio is 17.81%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. bought a new position in Innospec during the 2nd quarter valued at approximately $116,000. First Hawaiian Bank bought a new position in Innospec during the 3rd quarter valued at approximately $147,000. UBS Group AG raised its position in Innospec by 69.3% during the 1st quarter. UBS Group AG now owns 2,771 shares of the specialty chemicals company’s stock valued at $190,000 after purchasing an additional 1,134 shares during the last quarter. Burney Co. bought a new position in Innospec during the 2nd quarter valued at approximately $207,000. Finally, First Citizens Bank & Trust Co. bought a new position in Innospec during the 2nd quarter valued at approximately $210,000. 93.02% of the stock is owned by institutional investors and hedge funds.

About Innospec

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.

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