Sensient Technologies (NYSE:SXT) Posts Earnings Results, Beats Expectations By $0.03 EPS – MarketBeat
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Sensient Technologies (NYSE:SXT – Get Rating) issued its quarterly earnings results on Friday. The specialty chemicals company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03, Briefing.com reports. Sensient Technologies had a return on equity of 14.96% and a net margin of 9.69%. The business had revenue of $361.10 million during the quarter, compared to the consensus estimate of $364.28 million. During the same period in the previous year, the business earned $0.85 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis.
Sensient Technologies Stock Performance
SXT traded down $0.88 during trading on Friday, reaching $68.94. 270,402 shares of the company were exchanged, compared to its average volume of 175,058. The stock has a market cap of $2.90 billion, a P/E ratio of 20.89 and a beta of 0.90. The firm has a 50 day moving average of $76.09 and a 200 day moving average of $80.44. The company has a current ratio of 3.11, a quick ratio of 1.40 and a debt-to-equity ratio of 0.52. Sensient Technologies has a 52 week low of $67.63 and a 52 week high of $106.32.
Sensient Technologies Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 7th will be paid a dividend of $0.41 per share. The ex-dividend date is Friday, November 4th. This represents a $1.64 dividend on an annualized basis and a yield of 2.38%. Sensient Technologies’s payout ratio is currently 49.70%.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in SXT. Covestor Ltd boosted its position in Sensient Technologies by 88.1% during the 1st quarter. Covestor Ltd now owns 489 shares of the specialty chemicals company’s stock worth $41,000 after acquiring an additional 229 shares during the period. Mackenzie Financial Corp boosted its position in Sensient Technologies by 5.1% during the 1st quarter. Mackenzie Financial Corp now owns 2,573 shares of the specialty chemicals company’s stock worth $216,000 after acquiring an additional 124 shares during the period. Penserra Capital Management LLC acquired a new position in Sensient Technologies during the 1st quarter worth $219,000. Vanguard Personalized Indexing Management LLC acquired a new position in Sensient Technologies during the 2nd quarter worth $220,000. Finally, Bridgewater Associates LP acquired a new position in Sensient Technologies during the 1st quarter worth $251,000. Institutional investors and hedge funds own 88.92% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on SXT. Sidoti upgraded Sensient Technologies from a “neutral” rating to a “buy” rating and set a $92.00 price target for the company in a report on Monday, October 10th. StockNews.com upgraded Sensient Technologies from a “hold” rating to a “buy” rating in a research note on Saturday.
About Sensient Technologies
(Get Rating)
Sensient Technologies Corporation, together with its subsidiaries, develops, manufactures, and markets colors, flavors, and other specialty ingredients in North America, Europe, the Asia Pacific, and internationally. It operates through three segments: Flavors & Extracts Group, Color Group, and Asia Pacific Group.
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