Sensient Technologies (NYSE:SXT) Issues FY24 Earnings Guidance

Sensient Technologies (NYSE:SXT) updated its FY24 earnings guidance on Friday. The company provided earnings per share guidance of $2.77 to $2.87 for the period, compared to the consensus earnings per share estimate of $3.02. Sensient Technologies also updated its FY 2024 guidance to 2.770-2.870 EPS.

Sensient Technologies Price Performance

NYSE:SXT traded down $0.04 during mid-day trading on Friday, hitting $77.45. 112,972 shares of the stock traded hands, compared to its average volume of 174,667. The business’s 50-day moving average price is $76.60 and its 200 day moving average price is $75.25. The company has a quick ratio of 1.72, a current ratio of 4.16 and a debt-to-equity ratio of 0.60. The company has a market cap of $3.28 billion, a PE ratio of 36.02 and a beta of 0.75. Sensient Technologies has a 12-month low of $55.02 and a 12-month high of $82.99.

Sensient Technologies (NYSE:SXT) last released its quarterly earnings results on Friday, October 25th. The specialty chemicals company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. Sensient Technologies had a net margin of 5.83% and a return on equity of 11.25%. The firm had revenue of $392.61 million during the quarter, compared to analyst estimates of $390.64 million. During the same period in the previous year, the business earned $0.75 EPS. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, analysts expect that Sensient Technologies will post 2.82 EPS for the current fiscal year.

Sensient Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be paid a $0.41 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.64 dividend on an annualized basis and a yield of 2.12%. Sensient Technologies’s dividend payout ratio is presently 76.28%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, Director Gebhardt Deborah Mckeithan sold 2,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $71.08, for a total value of $142,160.00. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.40% of the company’s stock.

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.