Tate & Lyle (LON:TATE) Posts Quarterly Earnings Results

Tate & Lyle (LON:TATE) issued its quarterly earnings results on Thursday. The company reported GBX 12.60 earnings per share (EPS) for the quarter, Digital Look Earnings reports. Tate & Lyle had a return on equity of 15.37% and a net margin of 11.41%.

Tate & Lyle Stock Up 1.1%

Shares of TATE opened at GBX 385 on Friday. The stock has a market capitalization of £1.70 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 1.37 and a beta of 0.50. The company has a debt-to-equity ratio of 47.66, a quick ratio of 1.77 and a current ratio of 3.22. The stock has a fifty day moving average of GBX 430.75 and a 200-day moving average of GBX 505.46. Tate & Lyle has a 52 week low of GBX 358 and a 52 week high of GBX 793.50.

Insider Buying and Selling

In other Tate & Lyle news, insider Nick Hampton bought 25,000 shares of Tate & Lyle stock in a transaction on Friday, October 3rd. The shares were purchased at an average cost of GBX 369 per share, with a total value of £92,250. Also, insider Steve Foots purchased 16,000 shares of the firm’s stock in a transaction on Monday, October 6th. The stock was acquired at an average price of GBX 370 per share, with a total value of £59,200. 1.66% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TATE. Deutsche Bank Aktiengesellschaft cut their target price on Tate & Lyle from GBX 800 to GBX 460 and set a “buy” rating for the company in a research report on Thursday, October 2nd. Citigroup decreased their target price on shares of Tate & Lyle from GBX 670 to GBX 540 and set a “buy” rating on the stock in a report on Thursday, October 2nd. Berenberg Bank decreased their price objective on shares of Tate & Lyle from GBX 620 to GBX 450 and set a “hold” rating on the stock in a research note on Monday, October 13th. Finally, UBS Group decreased their price target on Tate & Lyle from GBX 590 to GBX 390 and set a “neutral” rating on the stock in a research note on Friday, October 31st. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Tate & Lyle currently has an average rating of “Moderate Buy” and an average target price of GBX 460.

About Tate & Lyle

Tate & Lyle PLC, together with its subsidiaries, provides ingredients and solutions to the food, beverage, and other industries in the United States, the United Kingdom, other European countries, and internationally. It operates through three segments: Food & Beverage Solutions, Sucralose, and Primary Products.