Sensient Technologies Co. (SXT) Forecasted to Post Q1 2018 Earnings of $0.90 Per Share
Sensient Technologies Co. (NYSE:SXT) – KeyCorp reduced their Q1 2018 earnings per share (EPS) estimates for shares of Sensient Technologies in a research note issued on Monday. KeyCorp analyst M. Sison now anticipates that the specialty chemicals company will post earnings of $0.90 per share for the quarter, down from their previous estimate of $0.93. KeyCorp has a “Buy” rating and a $90.00 price objective on the stock. KeyCorp also issued estimates for Sensient Technologies’ Q2 2018 earnings at $0.97 EPS, Q4 2018 earnings at $0.95 EPS, FY2018 earnings at $3.80 EPS and FY2019 earnings at $4.15 EPS.
SXT has been the topic of a number of other research reports. Off Wall Street assumed coverage on Sensient Technologies in a research note on Monday, December 18th. They set a “sell” rating on the stock. TheStreet cut Sensient Technologies from a “b” rating to a “c+” rating in a research note on Thursday, February 8th. Finally, Gabelli raised Sensient Technologies from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $90.77.
Sensient Technologies (NYSE:SXT) last released its earnings results on Thursday, February 8th. The specialty chemicals company reported $0.84 EPS for the quarter, meeting analysts’ consensus estimates of $0.84. The firm had revenue of $328.87 million for the quarter. Sensient Technologies had a return on equity of 17.37% and a net margin of 6.58%.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Tuesday, February 6th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Monday, February 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.90%. Sensient Technologies’s payout ratio is 65.02%.
Sensient Technologies announced that its board has authorized a share repurchase program on Thursday, October 19th that authorizes the company to buyback 3,000,000 shares. This buyback authorization authorizes the specialty chemicals company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, Director Essie Whitelaw sold 667 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $75.15, for a total value of $50,125.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.95% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in SXT. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Sensient Technologies by 44.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,556 shares of the specialty chemicals company’s stock valued at $187,000 after purchasing an additional 782 shares during the period. Jane Street Group LLC purchased a new stake in shares of Sensient Technologies in the third quarter valued at approximately $221,000. Public Employees Retirement System of Ohio lifted its holdings in Sensient Technologies by 4.4% during the second quarter. Public Employees Retirement System of Ohio now owns 2,825 shares of the specialty chemicals company’s stock worth $227,000 after buying an additional 119 shares during the period. FDx Advisors Inc. purchased a new stake in Sensient Technologies during the third quarter worth $231,000. Finally, Oakbrook Investments LLC purchased a new stake in Sensient Technologies during the fourth quarter worth $234,000. Hedge funds and other institutional investors own 88.12% of the company’s stock.
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About Sensient Technologies
Sensient Technologies Corporation is a manufacturer and marketer of colors, flavors and fragrances. The Company uses technologies at facilities around the world to develop specialty food and beverage systems, cosmetic and pharmaceutical systems, specialty inks and colors, and other specialty and fine chemicals.
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