Innospec (NASDAQ:IOSP) Posts Quarterly Earnings Results, Beats Expectations By $0.15 EPS

Innospec (NASDAQ:IOSP) posted its quarterly earnings results on Tuesday. The specialty chemicals company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.15, reports. The company had revenue of $371.90 million for the quarter, compared to the consensus estimate of $367.65 million. Innospec had a return on equity of 15.69% and a net margin of 6.69%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.20 EPS.

IOSP stock opened at $100.00 on Friday. The stock has a market capitalization of $2.26 billion, a PE ratio of 20.70 and a beta of 1.27. Innospec has a 12-month low of $53.07 and a 12-month high of $107.10. The company has a current ratio of 2.14, a quick ratio of 1.32 and a debt-to-equity ratio of 0.19. The stock’s 50 day simple moving average is $90.54 and its 200 day simple moving average is $87.88.

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th will be given a $0.52 dividend. The ex-dividend date of this dividend is Monday, November 18th. This is a boost from Innospec’s previous Semi-Annual dividend of $0.50. Innospec’s dividend payout ratio is 20.70%.

In related news, VP Brian Watt sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $84.16, for a total value of $252,480.00. Following the transaction, the vice president now directly owns 27,888 shares of the company’s stock, valued at approximately $2,347,054.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.62% of the company’s stock.

Several research firms recently weighed in on IOSP. BidaskClub downgraded Innospec from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. Zacks Investment Research cut Innospec from a “buy” rating to a “hold” rating in a research report on Saturday, July 13th. ValuEngine raised Innospec from a “strong sell” rating to a “sell” rating in a research report on Friday. Finally, CL King assumed coverage on Innospec in a research report on Wednesday, September 4th. They issued a “buy” rating and a $95.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $90.67.

Innospec Company Profile

Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals worldwide. It operates through four segments: Fuel Specialties, Performance Chemicals, Oilfield Services, and Octane Additives. The Fuel Specialties segment offers a range of specialty chemical products used as additives in various fuels.

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Earnings History for Innospec (NASDAQ:IOSP)

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