Sensient Technologies (NYSE:SXT) Downgraded to “Sell” at Zacks Investment Research
According to Zacks, “Sensient Technologies Corporation is a leading global manufacturer and marketer of colors, flavors and fragrances. Sensient employ advanced technologies to develop specialty food and beverage systems, cosmetic ingredients, pharmaceutical excipients, inkjet and specialty inks and colors, and other specialty and fine chemicals. Sensient uses advanced proprietary technologies to produce a broad range of innovative products. Sensient is a global developer, manufacturer and supplier of flavor and fragrance systems for the food, beverage, personal care and household-products industries. Sensient is a developer, manufacturer and supplier of colors for businesses worldwide. Sensient provides natural and synthetic color systems for use in foods, beverages and pharmaceuticals; colors and other ingredients for cosmetics, such as active ingredients, solubilizers and surface treated pigments; pharmaceutical excipients, such as colors, flavors and coatings; specialty inks; and technical colors for industrial applications. “
Separately, TheStreet raised shares of Sensient Technologies from a c+ rating to a b- rating in a report on Tuesday, June 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. Sensient Technologies has an average rating of Buy and an average target price of $75.00.
Sensient Technologies (NYSE:SXT) last posted its earnings results on Friday, July 19th. The specialty chemicals company reported $0.81 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.01). The firm had revenue of $339.20 million for the quarter, compared to the consensus estimate of $361.20 million. Sensient Technologies had a return on equity of 16.15% and a net margin of 10.87%. The business’s revenue was down 6.6% on a year-over-year basis. During the same period last year, the company posted $0.92 EPS. Research analysts forecast that Sensient Technologies will post 3.19 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 2nd were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Thursday, August 1st. Sensient Technologies’s payout ratio is 40.56%.
Several large investors have recently modified their holdings of SXT. Krane Funds Advisors LLC bought a new position in shares of Sensient Technologies in the 2nd quarter worth $58,000. HM Payson & Co. bought a new position in shares of Sensient Technologies in the 2nd quarter worth $147,000. Point72 Hong Kong Ltd bought a new position in shares of Sensient Technologies in the 2nd quarter worth $172,000. Stanley Laman Group Ltd. bought a new position in shares of Sensient Technologies in the 2nd quarter worth $196,000. Finally, Wealthsource Partners LLC bought a new position in shares of Sensient Technologies in the 2nd quarter worth $201,000. 96.94% of the stock is currently owned by hedge funds and other institutional investors.
Sensient Technologies Company Profile
Sensient Technologies Corporation, together with its subsidiaries, develops, manufactures, and markets colors, flavors, and fragrances in North America, Europe, the Asia Pacific, and internationally. It operates through three segments: Flavors & Fragrances Group, Color Group, and Asia Pacific Group.
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