Zacks: Brokerages Expect Innospec Inc. (IOSP) Will Post Earnings of $0.85 Per Share
Analysts expect Innospec Inc. (NASDAQ:IOSP) to post $0.85 earnings per share (EPS) for the current quarter, Zacks reports. Zero analysts have issued estimates for Innospec’s earnings. Innospec posted earnings per share of $0.78 during the same quarter last year, which suggests a positive year over year growth rate of 9%. The business is expected to report its next earnings results on Wednesday, November 1st.
On average, analysts expect that Innospec will report full-year earnings of $4.15 per share for the current fiscal year. For the next fiscal year, analysts forecast that the company will report earnings of $4.35 per share. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Innospec.
Innospec (NASDAQ:IOSP) last posted its quarterly earnings data on Tuesday, August 8th. The specialty chemicals company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.08. Innospec had a return on equity of 14.77% and a net margin of 7.22%. The company had revenue of $326.30 million for the quarter.
Several equities analysts have commented on the company. Zacks Investment Research raised Innospec from a “hold” rating to a “strong-buy” rating and set a $73.00 price target for the company in a report on Tuesday, May 16th. ValuEngine cut Innospec from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Finally, BidaskClub cut Innospec from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th.
A number of institutional investors have recently bought and sold shares of IOSP. Pinebridge Investments L.P. boosted its position in Innospec by 1.3% in the second quarter. Pinebridge Investments L.P. now owns 3,180 shares of the specialty chemicals company’s stock valued at $209,000 after buying an additional 41 shares during the period. Amalgamated Bank boosted its position in Innospec by 1.8% in the second quarter. Amalgamated Bank now owns 3,257 shares of the specialty chemicals company’s stock valued at $213,000 after buying an additional 57 shares during the period. State of Alaska Department of Revenue boosted its position in Innospec by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 2,660 shares of the specialty chemicals company’s stock valued at $172,000 after buying an additional 70 shares during the period. Arizona State Retirement System boosted its position in Innospec by 0.8% in the second quarter. Arizona State Retirement System now owns 12,600 shares of the specialty chemicals company’s stock valued at $826,000 after buying an additional 100 shares during the period. Finally, Loews Corp boosted its position in Innospec by 2.0% in the second quarter. Loews Corp now owns 5,192 shares of the specialty chemicals company’s stock valued at $340,000 after buying an additional 100 shares during the period. 91.53% of the stock is owned by hedge funds and other institutional investors.
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Innospec (IOSP) remained flat at $55.30 during midday trading on Friday. The company had a trading volume of 84,693 shares. Innospec has a 12-month low of $54.45 and a 12-month high of $74.75. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 17.61 and a beta of 1.15. The company’s 50 day moving average price is $62.49 and its 200 day moving average price is $64.32.
Innospec Company Profile
Innospec Inc is a specialty chemicals company engaged in developing, manufacturing, blending, marketing and supplying of specialty chemicals for use as fuel additives and ingredients for personal care, home care, agrochemical, mining and other applications and oilfield chemicals. The Company operates through four business segments: Fuel Specialties, Performance Chemicals, Oilfield Services and Octane Additives.
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