Sensient Technologies (NYSE:SXT) Announces Quarterly Earnings Results

Sensient Technologies (NYSE:SXT) posted its earnings results on Friday. The specialty chemicals company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.02, Briefing.com reports. The company had revenue of $392.61 million for the quarter, compared to analyst estimates of $390.64 million. Sensient Technologies had a return on equity of 11.25% and a net margin of 5.83%. The business’s revenue was up 7.9% compared to the same quarter last year. During the same period last year, the company earned $0.75 earnings per share. Sensient Technologies updated its FY 2024 guidance to 2.770-2.870 EPS and its FY24 guidance to $2.77 to $2.87 EPS.

Sensient Technologies Stock Performance

SXT stock traded up $0.72 during mid-day trading on Friday, reaching $78.21. 31,777 shares of the stock traded hands, compared to its average volume of 174,288. The company has a quick ratio of 1.72, a current ratio of 4.16 and a debt-to-equity ratio of 0.60. Sensient Technologies has a 52 week low of $55.02 and a 52 week high of $82.99. The business has a 50-day moving average of $76.60 and a two-hundred day moving average of $75.25. The firm has a market capitalization of $3.31 billion, a PE ratio of 37.43 and a beta of 0.75.

Insider Buying and Selling at Sensient Technologies

In other news, Director Gebhardt Deborah Mckeithan sold 2,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $71.08, for a total transaction of $142,160.00. Following the completion of the transaction, the director now owns 15,162 shares of the company’s stock, valued at approximately $1,077,714.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Robert W. Baird upped their price target on shares of Sensient Technologies from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Monday, July 29th. StockNews.com cut shares of Sensient Technologies from a “buy” rating to a “hold” rating in a report on Thursday, July 25th.

About Sensient Technologies

Sensient Technologies Corporation, together with its subsidiaries, develops, manufactures, and markets colors, flavors, and other specialty ingredients in North America, Europe, Asia, Australia, South America, and Africa. The company offers flavor-delivery systems, and compounded and blended products; ingredient products, such as essential oils, natural and synthetic flavors, and natural extracts; and chili powder, paprika, and chili pepper, as well as dehydrated vegetables comprising parsley, celery, and spinach to the food, beverage, and personal care industries.