Innospec Inc. (IOSP) to Post Q4 2017 Earnings of $1.13 Per Share, KeyCorp Forecasts
Innospec Inc. (NASDAQ:IOSP) – Equities researchers at KeyCorp dropped their Q4 2017 earnings per share estimates for Innospec in a report released on Tuesday. KeyCorp analyst M. Sison now forecasts that the specialty chemicals company will post earnings per share of $1.13 for the quarter, down from their prior estimate of $1.16.
Innospec (NASDAQ:IOSP) last issued its earnings results on Tuesday, August 8th. The specialty chemicals company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.08. The company had revenue of $326.30 million during the quarter. Innospec had a net margin of 7.22% and a return on equity of 14.77%. COPYRIGHT VIOLATION NOTICE: “Innospec Inc. (IOSP) to Post Q4 2017 Earnings of $1.13 Per Share, KeyCorp Forecasts” was first reported by Watch List News and is owned by of Watch List News. If you are accessing this story on another domain, it was illegally stolen and reposted in violation of US and international trademark and copyright laws. The legal version of this story can be read at https://www.watchlistnews.com/innospec-inc-iosp-to-post-q4-2017-earnings-of-1-13-per-share-keycorp-forecasts/1499199.html.
Several other research analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of Innospec from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a report on Wednesday. ValuEngine cut shares of Innospec from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Finally, BidaskClub cut shares of Innospec from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th.
Shares of Innospec (IOSP) traded down 0.35% during midday trading on Thursday, hitting $56.85. 16,534 shares of the company’s stock were exchanged. Innospec has a 52 week low of $54.45 and a 52 week high of $74.75. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 18.10 and a beta of 1.15. The company has a 50-day moving average of $63.05 and a 200-day moving average of $64.51.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in IOSP. Wasatch Advisors Inc. boosted its position in Innospec by 116.5% in the second quarter. Wasatch Advisors Inc. now owns 191,699 shares of the specialty chemicals company’s stock valued at $12,566,000 after buying an additional 103,152 shares during the period. Piedmont Investment Advisors LLC acquired a new position in shares of Innospec during the second quarter valued at approximately $1,619,000. Westwood Holdings Group Inc. acquired a new position in shares of Innospec during the second quarter valued at approximately $9,334,000. Assetmark Inc. boosted its position in shares of Innospec by 8.1% in the second quarter. Assetmark Inc. now owns 72,289 shares of the specialty chemicals company’s stock valued at $4,739,000 after buying an additional 5,430 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Innospec by 1.0% in the second quarter. The Manufacturers Life Insurance Company now owns 18,457 shares of the specialty chemicals company’s stock valued at $1,210,000 after buying an additional 182 shares during the last quarter. Institutional investors own 91.53% of the company’s stock.
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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