Innospec Inc. (IOSP) Forecasted to Post Q1 2019 Earnings of $1.15 Per Share

Innospec Inc. (NASDAQ:IOSP) – Equities research analysts at KeyCorp issued their Q1 2019 earnings per share (EPS) estimates for Innospec in a report issued on Thursday, April 11th. KeyCorp analyst M. Sison forecasts that the specialty chemicals company will post earnings of $1.15 per share for the quarter. KeyCorp also issued estimates for Innospec’s Q2 2019 earnings at $1.12 EPS, Q3 2019 earnings at $1.25 EPS, Q4 2019 earnings at $1.48 EPS and FY2020 earnings at $5.35 EPS.

Several other brokerages also recently commented on IOSP. BidaskClub upgraded shares of Innospec from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 23rd. Zacks Investment Research downgraded shares of Innospec from a “buy” rating to a “hold” rating in a report on Friday, January 4th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $88.50.

IOSP opened at $84.40 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.40 and a current ratio of 2.24. Innospec has a 1-year low of $53.07 and a 1-year high of $86.53. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of 17.47 and a beta of 1.33.

Innospec (NASDAQ:IOSP) last released its quarterly earnings data on Tuesday, February 19th. The specialty chemicals company reported $1.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.27. Innospec had a net margin of 5.76% and a return on equity of 14.34%. The firm had revenue of $395.00 million for the quarter.

Several hedge funds have recently made changes to their positions in the company. Piedmont Investment Advisors Inc. raised its holdings in shares of Innospec by 3.4% in the fourth quarter. Piedmont Investment Advisors Inc. now owns 5,830 shares of the specialty chemicals company’s stock valued at $360,000 after purchasing an additional 189 shares during the last quarter. Diversified Trust Co increased its holdings in Innospec by 6.0% during the fourth quarter. Diversified Trust Co now owns 3,550 shares of the specialty chemicals company’s stock worth $219,000 after buying an additional 200 shares during the last quarter. Mondrian Investment Partners LTD increased its holdings in Innospec by 0.4% during the fourth quarter. Mondrian Investment Partners LTD now owns 67,564 shares of the specialty chemicals company’s stock worth $4,173,000 after buying an additional 245 shares during the last quarter. Prudential Financial Inc. increased its holdings in Innospec by 0.7% during the fourth quarter. Prudential Financial Inc. now owns 41,305 shares of the specialty chemicals company’s stock worth $2,551,000 after buying an additional 279 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Innospec by 27.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,986 shares of the specialty chemicals company’s stock worth $123,000 after buying an additional 428 shares during the last quarter. Institutional investors own 92.77% of the company’s stock.

In other news, CEO Patrick Williams sold 3,362 shares of the stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $80.51, for a total value of $270,674.62. Following the completion of the sale, the chief executive officer now owns 204,834 shares in the company, valued at $16,491,185.34. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Ian Cleminson sold 5,059 shares of the stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $80.51, for a total transaction of $407,300.09. Following the completion of the sale, the chief financial officer now owns 26,707 shares of the company’s stock, valued at approximately $2,150,180.57. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,984 shares of company stock valued at $2,382,501. 1.62% of the stock is currently owned by corporate insiders.

About Innospec

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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