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

Innospec (NASDAQ:IOSP) posted its quarterly earnings data on Tuesday. The specialty chemicals company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.03, FiscalAI reports. The firm had revenue of $473.60 million for the quarter, compared to analyst estimates of $479.17 million. Innospec had a net margin of 6.60% and a return on equity of 9.22%.

Innospec Stock Down 0.3%

Shares of Innospec stock traded down $0.32 during trading on Tuesday, reaching $99.23. The company’s stock had a trading volume of 270,997 shares, compared to its average volume of 207,872. The business has a 50 day moving average price of $96.15 and a 200-day moving average price of $84.51. Innospec has a 12-month low of $65.51 and a 12-month high of $102.00. The company has a market capitalization of $2.44 billion, a P/E ratio of 20.25, a price-to-earnings-growth ratio of 2.68 and a beta of 0.88.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on IOSP shares. Wall Street Zen cut shares of Innospec from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 26th. Weiss Ratings raised shares of Innospec from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Finally, Seaport Research Partners reiterated a “buy” rating and set a $110.00 price target on shares of Innospec in a research note on Thursday, August 6th. Two investment analysts have rated the stock with a Hold rating. According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

About Innospec

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.