Innospec (NASDAQ:IOSP) issued its quarterly earnings results on Tuesday. The specialty chemicals company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.04, MarketWatch Earnings reports. The company had revenue of $339.30 million for the quarter, compared to analyst estimates of $306.20 million. Innospec had a return on equity of 9.14% and a net margin of 2.92%. The company’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same period last year, the company earned $1.42 earnings per share.
Shares of Innospec stock traded up $0.33 during trading on Tuesday, hitting $98.69. The stock had a trading volume of 96,976 shares, compared to its average volume of 96,708. The business has a fifty day moving average of $101.38 and a two-hundred day moving average of $91.93. Innospec has a fifty-two week low of $61.48 and a fifty-two week high of $107.73. The firm has a market cap of $2.43 billion, a P/E ratio of 66.23 and a beta of 1.34.
Several equities analysts have commented on the stock. CL King raised their target price on shares of Innospec from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, January 15th. Zacks Investment Research upgraded shares of Innospec from a “strong sell” rating to a “hold” rating in a report on Tuesday.
Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals in the United States, rest of North America, the United Kingdom, rest of Europe, and internationally. It operates through Fuel Specialties, Performance Chemicals, and Oilfield Services segments. The Fuel Specialties segment offers a range of specialty chemical products used as additives in various fuels.
Read More: How to invest in a bear market
Receive News & Ratings for Innospec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Innospec and related companies with MarketBeat.com's FREE daily email newsletter.