Analyst Coverage

Firm Analyst
BMO Capital Markets
Ken Zaslow
Credit Suisse
Robert Moskow
Goldman Sachs
Adam Samuelson
Heather Jones Research LLC
Heather Jones
Morningstar
Seth Goldstein
Seaport Global
Brett Hundley
Stephens Inc.
Ben Bienvenu

Ingredion Incorporated is followed by the analysts listed above. Please note that any opinions, estimates or forecasts regarding Ingredion Incorporated's performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of Ingredion Incorporated or its management. Ingredion Incorporated does not by its reference above or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations.

First Call Estimates

Information on this page has been provided by First Call for information purposes only and has not been verified by Ingredion Incorporated or its management.

Mean Recommendation:

2.50

Sell

Strong Buy

Reference Information - Earnings Per Share

Last Actual (FY0): 6.92
FY0 End Date: 12/1/18
Ind. Annual Div: 2.52
Hist (5 Yr) Growth %: 4.20
Yield (%): 2.76

Analyst Forecasts - Earnings Per Share

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual 12/1/21 7.27 7.80 6.74 7.27 2 -- -- 1.11
Annual 12/1/20 6.89 7.25 6.30 7.05 7 2 -- 0.21
Annual 12/1/19 6.52 6.58 6.46 6.52 7 -- 1 -0.02
Quarterly 3/1/20 1.53 1.57 1.48 1.55 3 1 1 --
Quarterly 6/1/20 1.72 1.80 1.60 1.76 3 1 -- 1.18
Quarterly 9/1/20 1.88 1.99 1.75 1.89 3 1 1 1.08
Quarterly 12/1/19 1.49 1.55 1.45 1.48 6 -- 1 -0.11

Actuals - Earnings Per Share

Reported Mean Estimate Surprise % Change
Annual 12/1/18 6.92 6.88 0.62
Annual 12/1/17 7.70 7.71 -0.17
Annual 12/1/16 7.86 7.06 11.33
Quarterly 9/1/19 1.82 1.69 7.81
Quarterly 6/1/19 1.66 1.62 2.57
Quarterly 3/1/19 1.54 1.64 -5.96
Quarterly 12/1/18 1.61 1.57 2.88

Reference Information - Book Value Per Share

Last Actual (FY0): 36.20
FY0 End Date: 12/1/18
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Book Value Per Share

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual 12/1/20 45.03 53.23 36.82 45.03 2 -- -- --
Annual 12/1/19 42.68 46.68 38.69 42.68 2 -- -- --

Actuals - Book Value Per Share

Reported Mean Estimate Surprise % Change
Annual 12/1/18 36.20 43.32 -16.44
Annual 12/1/17 40.15 39.16 2.53
Annual 12/1/16 35.42 34.49 2.71

Reference Information - Cash Flow Per Share

Last Actual (FY0): 9.79
FY0 End Date: 12/1/18
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Cash Flow Per Share

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual 12/1/20 7.78 12.99 2.57 7.78 2 -- -- --
Annual 12/1/19 9.41 9.41 9.41 9.41 1 -- -- --
Quarterly 12/1/19 2.14 2.14 2.14 2.14 1 -- -- --

Actuals - Cash Flow Per Share

Reported Mean Estimate Surprise % Change
Annual 12/1/18 9.79 10.65 -8.06
Annual 12/1/17 10.46 10.16 2.95
Annual 12/1/16 10.40 10.32 0.78
Quarterly 9/1/19 3.52 4.11 -14.40
Quarterly 6/1/19 3.49 4.72 -26.12
Quarterly 3/1/19 0.27 3.68 -92.65
Quarterly 12/1/18 1.79 2.69 -33.51

Reference Information - Dividend Per Share

Last Actual (FY0): 2.45
FY0 End Date: 12/1/18
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Dividend Per Share

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual 12/1/21 2.65 2.65 2.65 2.65 1 -- -- --
Annual 12/1/20 2.43 2.69 1.87 2.59 4 -- -- --
Annual 12/1/19 2.37 2.61 1.76 2.56 4 -- -- --

Actuals - Dividend Per Share

Reported Mean Estimate Surprise % Change
Annual 12/1/18 2.45 2.40 2.12
Annual 12/1/17 2.20 2.09 5.20
Annual 12/1/16 1.90 1.90 0.16

Reference Information - EBIT

Last Actual (FY0): 767.00
FY0 End Date: 12/1/18
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - EBIT

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual 12/1/21 753.89 817.20 690.58 753.89 2 1 -- 0.35
Annual 12/1/20 737.27 764.40 693.31 751.90 7 3 -- 0.23
Annual 12/1/19 706.84 710.40 702.00 707.00 7 2 -- 0.05
Quarterly 3/1/20 170.10 170.20 170.00 170.10 2 -- 1 -0.58
Quarterly 6/1/20 189.25 190.90 187.60 189.25 2 1 -- 0.80
Quarterly 9/1/20 203.85 208.70 199.00 203.85 2 2 -- 1.29
Quarterly 12/1/19 171.58 173.80 169.50 171.50 4 1 -- 0.32

Actuals - EBIT

Reported Mean Estimate Surprise % Change
Annual 12/1/18 767.00 777.80 -1.39
Annual 12/1/17 884.00 885.69 -0.19
Annual 12/1/16 830.50 834.05 -0.43
Quarterly 9/1/19 193.00 183.80 5.01
Quarterly 6/1/19 178.00 178.10 -0.06
Quarterly 3/1/19 166.00 179.83 -7.69
Quarterly 12/1/18 177.00 185.33 -4.50

Reference Information - EBITDA

Last Actual (FY0): 984.00
FY0 End Date: 12/1/18
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - EBITDA

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual 12/1/21 975.27 1,037.20 913.34 975.27 2 2 -- 0.47
Annual 12/1/20 967.00 1,005.00 914.41 975.90 7 3 -- 0.35
Annual 12/1/19 930.60 964.00 914.00 923.40 7 2 -- 0.09
Quarterly 3/1/20 226.45 227.70 225.20 226.45 2 1 1 0.22
Quarterly 6/1/20 244.35 246.10 242.60 244.35 2 2 -- 1.24
Quarterly 9/1/20 259.25 263.70 254.80 259.25 2 2 -- 1.61
Quarterly 12/1/19 232.06 250.00 221.50 228.80 5 1 -- 0.45

Actuals - EBITDA

Reported Mean Estimate Surprise % Change
Annual 12/1/18 984.00 1,006.62 -2.25
Annual 12/1/17 1,093.00 1,098.39 -0.49
Annual 12/1/16 1,026.50 1,035.26 -0.85
Quarterly 9/1/19 248.00 238.70 3.90
Quarterly 6/1/19 230.00 234.07 -1.74
Quarterly 3/1/19 217.00 236.83 -8.37
Quarterly 12/1/18 236.00 235.00 0.43

Reference Information - GAAP Earnings Per Share

Last Actual (FY0): 6.17
FY0 End Date: 12/1/18
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - GAAP Earnings Per Share

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual 12/1/21 7.80 7.80 7.80 7.80 1 -- -- 2.09
Annual 12/1/20 6.97 7.21 6.30 7.08 6 2 -- 0.24
Annual 12/1/19 6.00 6.06 5.89 6.02 5 -- 1 -0.03
Quarterly 3/1/20 1.56 1.57 1.55 1.56 2 1 1 --
Quarterly 6/1/20 1.78 1.80 1.76 1.78 2 1 -- 1.71
Quarterly 9/1/20 1.94 1.99 1.89 1.94 2 2 -- 1.57
Quarterly 12/1/19 1.51 1.55 1.47 1.50 4 -- 1 -0.17

Actuals - GAAP Earnings Per Share

Reported Mean Estimate Surprise % Change
Annual 12/1/18 6.17 6.48 -4.73
Annual 12/1/17 7.06 7.45 -5.21
Annual 12/1/16 6.55 6.86 -4.52
Quarterly 9/1/19 1.47 1.68 -12.37
Quarterly 6/1/19 1.56 1.63 -4.29
Quarterly 3/1/19 1.48 1.63 -9.20
Quarterly 12/1/18 1.36 1.54 -11.40

Reference Information - Net Asset Value

Last Actual (FY0): 2,408.00
FY0 End Date: 12/1/18
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Net Asset Value

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual 12/1/20 3,087.00 3,593.00 2,581.00 3,087.00 2 -- -- --
Annual 12/1/19 2,816.00 3,151.00 2,481.00 2,816.00 2 -- -- --

Actuals - Net Asset Value

Reported Mean Estimate Surprise % Change
Annual 12/1/18 2,408.00 2,941.00 -18.12
Annual 12/1/17 2,917.00 2,881.90 1.22
Annual 12/1/16 2,595.00 2,585.30 0.38

Reference Information - Net Debt

Last Actual (FY0): 1,766.00
FY0 End Date: 12/1/18
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Net Debt

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual 12/1/21 1,913.42 1,913.42 1,913.42 1,913.42 1 1 -- 0.08
Annual 12/1/20 1,726.16 1,764.66 1,687.67 1,726.16 2 1 -- 2.28
Annual 12/1/19 1,712.14 1,732.47 1,691.81 1,712.14 2 1 -- 0.00

Actuals - Net Debt

Reported Mean Estimate Surprise % Change
Annual 12/1/18 1,766.00 1,461.57 20.83
Annual 12/1/17 1,260.00 1,310.65 -3.86
Annual 12/1/16 1,440.00 1,294.00 11.28

Reference Information - Net Income

Last Actual (FY0): 497.00
FY0 End Date: 12/1/18
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Net Income

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual 12/1/21 477.92 525.50 430.35 477.92 2 1 -- 0.39
Annual 12/1/20 464.33 485.20 428.70 475.40 7 3 -- 0.26
Annual 12/1/19 440.17 443.30 437.90 440.00 7 1 1 -0.02
Quarterly 3/1/20 105.05 106.00 104.10 105.05 2 -- 1 -0.71
Quarterly 6/1/20 119.95 121.40 118.50 119.95 2 1 -- 1.01
Quarterly 9/1/20 130.70 134.30 127.10 130.70 2 2 -- 1.48
Quarterly 12/1/19 101.50 104.10 99.40 101.25 4 -- 1 -0.25

Actuals - Net Income

Reported Mean Estimate Surprise % Change
Annual 12/1/18 497.00 495.07 0.39
Annual 12/1/17 566.00 566.00 0.00
Annual 12/1/16 582.40 522.34 11.50
Quarterly 9/1/19 123.00 114.60 7.33
Quarterly 6/1/19 112.00 111.60 0.36
Quarterly 3/1/19 104.00 112.75 -7.76
Quarterly 12/1/18 111.00 107.77 3.00

Reference Information - Operating Profit

Last Actual (FY0): --
FY0 End Date:
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Operating Profit

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual 12/1/20 818.00 818.00 818.00 818.00 1 -- -- --
Annual 12/1/19 685.00 685.00 685.00 685.00 1 -- -- --

Actuals - Operating Profit

Reported Mean Estimate Surprise % Change

Reference Information - Return On Equity

Last Actual (FY0): 18.83
FY0 End Date: 12/1/18
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Return On Equity

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual 12/1/20 17.94 19.10 16.77 17.94 2 -- -- --
Annual 12/1/19 17.02 17.53 16.50 17.02 2 -- -- --

Actuals - Return On Equity

Reported Mean Estimate Surprise % Change
Annual 12/1/18 18.83 16.79 2.04
Annual 12/1/17 20.75 20.35 0.40
Annual 12/1/16 22.44 21.87 0.57

Reference Information - Sales

Last Actual (FY0): 5,841.00
FY0 End Date: 12/1/18
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Sales

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual 12/1/21 6,015.95 6,036.70 5,995.19 6,015.95 2 1 -- 0.55
Annual 12/1/20 5,862.67 6,049.00 5,722.87 5,831.00 7 2 -- 0.66
Annual 12/1/19 5,748.58 5,824.80 5,704.00 5,749.00 7 1 1 0.00
Quarterly 3/1/20 1,466.79 1,496.30 1,440.60 1,463.47 3 2 -- 1.89
Quarterly 6/1/20 1,491.61 1,521.20 1,475.50 1,478.14 3 2 -- 2.10
Quarterly 9/1/20 1,499.95 1,510.50 1,483.40 1,505.94 3 2 -- 1.29
Quarterly 12/1/19 1,445.02 1,513.80 1,406.10 1,440.80 6 1 1 -0.09

Actuals - Sales

Reported Mean Estimate Surprise % Change
Annual 12/1/18 5,841.00 5,842.45 -0.02
Annual 12/1/17 5,832.00 5,831.42 0.01
Annual 12/1/16 5,703.60 5,716.22 -0.22
Quarterly 9/1/19 1,457.00 1,463.41 -0.44
Quarterly 6/1/19 1,434.00 1,498.97 -4.33
Quarterly 3/1/19 1,420.00 1,445.16 -1.74
Quarterly 12/1/18 1,426.00 1,420.74 0.37

Reference Information - Earnings Per Share (Parent)

Last Actual (FY0): --
FY0 End Date:
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Earnings Per Share (Parent)

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual 12/1/21 -- -- -- -- -- -- -- --
Annual 12/1/20 -- -- -- -- -- -- -- --
Annual 12/1/19 -- -- -- -- -- -- -- --
Quarterly 9/1/20 -- -- -- -- -- -- -- --
Quarterly 6/1/20 -- -- -- -- -- -- -- --
Quarterly 3/1/20 -- -- -- -- -- -- -- --
Quarterly 12/1/19 -- -- -- -- -- -- -- --

Actuals - Earnings Per Share (Parent)

Reported Mean Estimate Surprise % Change
12/1/00 -- -- --
12/1/00 -- -- --
12/1/00 -- -- --
12/1/00 -- -- --
12/1/00 -- -- --
12/1/00 -- -- --
12/1/00 -- -- --

Reference Information - Net Income (Parent)

Last Actual (FY0): --
FY0 End Date:
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Net Income (Parent)

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual 12/1/21 -- -- -- -- -- -- -- --
Annual 12/1/20 -- -- -- -- -- -- -- --
Annual 12/1/19 -- -- -- -- -- -- -- --
Quarterly 9/1/20 -- -- -- -- -- -- -- --
Quarterly 6/1/20 -- -- -- -- -- -- -- --
Quarterly 3/1/20 -- -- -- -- -- -- -- --
Quarterly 12/1/19 -- -- -- -- -- -- -- --

Actuals - Net Income (Parent)

Reported Mean Estimate Surprise % Change
12/1/00 -- -- --
12/1/00 -- -- --
12/1/00 -- -- --
12/1/00 -- -- --
12/1/00 -- -- --
12/1/00 -- -- --
12/1/00 -- -- --

Reference Information - Operating Profit (Parent)

Last Actual (FY0): --
FY0 End Date:
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Operating Profit (Parent)

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual 12/1/21 -- -- -- -- -- -- -- --
Annual 12/1/20 -- -- -- -- -- -- -- --
Annual 12/1/19 -- -- -- -- -- -- -- --
Quarterly 9/1/20 -- -- -- -- -- -- -- --
Quarterly 6/1/20 -- -- -- -- -- -- -- --
Quarterly 3/1/20 -- -- -- -- -- -- -- --
Quarterly 12/1/19 -- -- -- -- -- -- -- --

Actuals - Operating Profit (Parent)

Reported Mean Estimate Surprise % Change
12/1/00 -- -- --
12/1/00 -- -- --
12/1/00 -- -- --
12/1/00 -- -- --
12/1/00 -- -- --
12/1/00 -- -- --
12/1/00 -- -- --

Reference Information - Sales (Parent)

Last Actual (FY0): --
FY0 End Date:
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Sales (Parent)

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change

Actuals - Sales (Parent)

Reported Mean Estimate Surprise % Change
12/1/00 -- -- --
12/1/00 -- -- --
12/1/00 -- -- --
12/1/00 -- -- --
12/1/00 -- -- --
12/1/00 -- -- --
12/1/00 -- -- --

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About Ingredion

Ingredion Incorporated (NYSE: INGR) headquartered in the suburbs of Chicago, is a leading global ingredient solutions provider serving customers in more than 120 countries. With annual net sales of nearly $6 billion, the Company turns grains, fruits, vegetables and other plant-based materials into value-added ingredient solutions for the food, beverage, animal nutrition, brewing and industrial markets. With Ingredion Idea Labs® innovation centers around the world and more than 11,000 employees, the Company co-creates with customers and fulfills its purpose of bringing together the potential of people, nature and technology to create ingredient solutions that make life better. Visit ingredion.com for more information and the latest Company news.


The INGREDION and INGREDION IDEA LABS marks and logos are trademarks of the Ingredion group of companies.
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