Tate & Lyle (LON:TATE) Issues Quarterly Earnings Results

Tate & Lyle (LON:TATE) posted its earnings results on Thursday. The company reported GBX 12.60 earnings per share (EPS) for the quarter, Digital Look Earnings reports. Tate & Lyle had a return on equity of 15.37% and a net margin of 11.41%.

Tate & Lyle Stock Up 0.7%

TATE traded up GBX 2.80 on Thursday, hitting GBX 380.80. The company had a trading volume of 135,947,938 shares, compared to its average volume of 3,583,407. The company has a debt-to-equity ratio of 47.66, a current ratio of 3.22 and a quick ratio of 1.77. Tate & Lyle has a 52-week low of GBX 358 and a 52-week high of GBX 793.50. The stock has a fifty day simple moving average of GBX 436.86 and a 200-day simple moving average of GBX 507.42. The firm has a market capitalization of £1.68 billion, a P/E ratio of 11.04, a P/E/G ratio of 1.37 and a beta of 0.50.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TATE shares. Berenberg Bank cut their price objective on Tate & Lyle from GBX 620 to GBX 450 and set a “hold” rating on the stock in a research report on Monday, October 13th. Deutsche Bank Aktiengesellschaft dropped their price target on Tate & Lyle from GBX 800 to GBX 460 and set a “buy” rating for the company in a research note on Thursday, October 2nd. Citigroup reduced their price objective on shares of Tate & Lyle from GBX 670 to GBX 540 and set a “buy” rating on the stock in a research report on Thursday, October 2nd. Finally, UBS Group decreased their price objective on shares of Tate & Lyle from GBX 590 to GBX 390 and set a “neutral” rating for the company in a report on Friday, October 31st. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Tate & Lyle presently has an average rating of “Moderate Buy” and a consensus target price of GBX 460.

Insider Activity

In other Tate & Lyle news, insider Steve Foots purchased 16,000 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The stock was bought at an average cost of GBX 370 per share, for a total transaction of £59,200. Also, insider Nick Hampton purchased 25,000 shares of the firm’s stock in a transaction that occurred on Friday, October 3rd. The stock was acquired at an average price of GBX 369 per share, with a total value of £92,250. Company insiders own 1.66% of the company’s stock.

About Tate & Lyle

Tate & Lyle PLC, together with its subsidiaries, provides ingredients and solutions to the food, beverage, and other industries in the United States, the United Kingdom, other European countries, and internationally. It operates through three segments: Food & Beverage Solutions, Sucralose, and Primary Products.