Innospec (NASDAQ:IOSP) Announces Earnings Results, Beats Expectations By $0.03 EPS

Innospec (NASDAQ:IOSP) released its quarterly earnings results on Tuesday. The specialty chemicals company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03, FiscalAI reports. Innospec had a return on equity of 9.42% and a net margin of 7.49%. The business had revenue of $473.60 million for the quarter, compared to analyst estimates of $479.17 million. During the same period in the prior year, the company earned $1.12 EPS. Innospec’s revenue for the quarter was up 7.2% on a year-over-year basis.

Innospec Stock Down 2.4%

IOSP stock traded down $1.93 during trading on Thursday, hitting $78.72. The company had a trading volume of 141,304 shares, compared to its average volume of 209,499. The firm has a 50-day moving average price of $95.97 and a 200-day moving average price of $84.59. Innospec has a 12 month low of $65.51 and a 12 month high of $102.00. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 2.64 and a beta of 0.88.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Wall Street Zen lowered Innospec from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 26th. Weiss Ratings upgraded Innospec from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Finally, Seaport Research Partners reaffirmed a “buy” rating and issued a $110.00 price target on shares of Innospec in a report on Thursday, August 6th. Two investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the company currently has an average rating of “Hold”.

Innospec Company Profile

Innospec Inc (NASDAQ: IOSP) is a global specialty chemicals company that develops, manufactures and markets products used in the fuel, oilfield, personal care and industrial markets. The company serves customers through a portfolio of chemical additives, formulations and technical services designed to improve product performance, efficiency and reliability.

Innospec operates through businesses focused on fuel specialties, performance chemicals and oilfield services. Its fuel-related products include fuel additives for gasoline, diesel, marine and other applications, including detergents, lubricity improvers, cetane improvers and other performance-enhancing formulations.