Innospec Inc. (NASDAQ:IOSP) – KeyCorp boosted their FY2017 earnings per share estimates for Innospec in a research note issued on Wednesday. KeyCorp analyst M. Sison now expects that the specialty chemicals company will earn $4.30 per share for the year, up from their previous estimate of $4.15. KeyCorp has a “Overweight” rating on the stock. KeyCorp also issued estimates for Innospec’s FY2018 earnings at $4.50 EPS.
A number of other equities research analysts have also weighed in on the company. BidaskClub lowered Innospec from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Zacks Investment Research lowered Innospec from a “buy” rating to a “hold” rating and set a $63.00 price objective on the stock. in a report on Tuesday, September 12th. Monness Crespi & Hardt raised Innospec from a “neutral” rating to a “buy” rating and set a $65.00 price objective on the stock in a report on Tuesday, August 22nd. Finally, ValuEngine lowered Innospec from a “buy” rating to a “hold” rating in a report on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $64.00.
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Shares of Innospec (IOSP) traded down $1.35 on Friday, reaching $66.40. The company’s stock had a trading volume of 42,653 shares, compared to its average volume of 90,310. Innospec has a 12 month low of $54.10 and a 12 month high of $74.75. The stock has a market cap of $1,600.00, a price-to-earnings ratio of 16.40 and a beta of 1.15. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.24 and a quick ratio of 1.32.
Innospec (NASDAQ:IOSP) last released its quarterly earnings results on Tuesday, November 7th. The specialty chemicals company reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.15. Innospec had a return on equity of 15.05% and a net margin of 7.45%. The firm had revenue of $332.40 million for the quarter, compared to analyst estimates of $309.40 million. During the same quarter last year, the company posted $0.78 earnings per share. The business’s revenue was up 61.8% on a year-over-year basis.
Institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of Innospec by 29,556.5% during the 1st quarter. BlackRock Inc. now owns 2,971,282 shares of the specialty chemicals company’s stock worth $192,389,000 after purchasing an additional 2,961,263 shares during the last quarter. American Century Companies Inc. raised its holdings in Innospec by 1.6% in the 2nd quarter. American Century Companies Inc. now owns 361,036 shares of the specialty chemicals company’s stock valued at $23,666,000 after acquiring an additional 5,661 shares during the last quarter. Emerald Advisers Inc. PA raised its holdings in Innospec by 4.2% in the 2nd quarter. Emerald Advisers Inc. PA now owns 257,253 shares of the specialty chemicals company’s stock valued at $16,863,000 after acquiring an additional 10,317 shares during the last quarter. Westwood Holdings Group Inc. acquired a new position in Innospec in the 2nd quarter valued at $9,334,000. Finally, Ramsey Quantitative Systems acquired a new position in Innospec in the 2nd quarter valued at $309,000. Hedge funds and other institutional investors own 89.10% of the company’s stock.
The business also recently declared a semiannual dividend, which will be paid on Monday, November 27th. Stockholders of record on Thursday, November 16th will be given a dividend of $0.39 per share. This represents a dividend yield of 1.12%. This is an increase from Innospec’s previous semiannual dividend of $0.38. The ex-dividend date is Wednesday, November 15th. Innospec’s dividend payout ratio (DPR) is presently 20.99%.
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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