Innospec (NASDAQ:IOSP) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Innospec (NASDAQ:IOSP – Get Free Report) announced its quarterly earnings data on Tuesday. The specialty chemicals company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.03, FiscalAI reports. Innospec had a return on equity of 9.22% and a net margin of 6.60%. The business had revenue of $473.60 million during the quarter, compared to analysts’ expectations of $479.17 million.

Innospec Stock Performance

Shares of IOSP stock traded down $0.32 during mid-day trading on Tuesday, hitting $99.23. 270,997 shares of the stock were exchanged, compared to its average volume of 207,872. The stock’s fifty day simple moving average is $96.15 and its two-hundred day simple moving average is $84.51. Innospec has a 12-month low of $65.51 and a 12-month high of $102.00. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 20.25, a P/E/G ratio of 2.68 and a beta of 0.88.

Wall Street Analysts Forecast Growth

IOSP has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of Innospec from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Seaport Research Partners reiterated a “buy” rating and issued a $110.00 price target on shares of Innospec in a research note on Thursday, August 6th. Finally, Wall Street Zen downgraded shares of Innospec from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 26th. Two analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, Innospec currently has an average rating of “Hold”.

Check Out Our Latest Analysis on Innospec

About Innospec

(Get Free Report)

Innospec Inc (NASDAQ: IOSP) is a global specialty chemicals company that develops, manufactures and markets products used in the fuel, oilfield, personal care and industrial markets. The company serves customers through a portfolio of chemical additives, formulations and technical services designed to improve product performance, efficiency and reliability.

Innospec operates through businesses focused on fuel specialties, performance chemicals and oilfield services. Its fuel-related products include fuel additives for gasoline, diesel, marine and other applications, including detergents, lubricity improvers, cetane improvers and other performance-enhancing formulations.

Further Reading

Earnings History for Innospec (NASDAQ:IOSP)

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