Here’s all you need to know about Ingredion (NYSE: INGR) stock

March 14, 2023 12:03 AM PDT | By Raza Naqvi

Here’s all you need to know about Ingredion (NYSE: INGR) stock — Image source: © Pichitbo | Megapixl.com

What are the latest financials of INGR?

In the fourth quarter of 2022, Ingredion's reported and adjusted earnings per share (EPS) stood at US$ 1.71 and US$ 1.65 compared to US$ 0.99 and US$ 1.09 in Q4 2021.

In 2022, the reported adjusted EPS of Ingredion were US$ 7.34, significantly up from US$ 1.73 in 2021.

The company also returned US$ 288 million to shareholders and increased its dividend rate by nine per cent.

Notably, the net sales of the multinational ingredient provider jumped to US$ 1,987 million in 2022 from US$ 1,755 million in 2021.

Key data of INGR stock

INGR stock generally pays a dividend to its shareholders on a quarterly basis. The company last announced a dividend of US$ 0.71 apiece, and its dividend yield was 2.98 per cent as on March 14, 2023.

At the time of writing, the market capitalization of Ingredion was US$ 6.27 billion and its price-to-earnings ratio stood at 13.1.

At market close on Monday, March 13, the INGR share closed at US$ 95.07 per share after declining 0.8 per cent during the trading session.

Bottom line

In 2023, Ingredion expects its reported and adjusted EPS to be in the range of US$ 7.7 to US$ 8.4.

Meanwhile, the company anticipates mid-double-digit growth in net sales for the entire 2023 fiscal year and high single-digit to low double-digit growth in adjusted operating income.

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