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

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

Tate & Lyle Stock Performance

TATE traded up GBX 2.80 during mid-day trading on Thursday, reaching GBX 380.80. 135,947,938 shares of the company traded hands, compared to its average volume of 3,583,407. The stock has a market capitalization of £1.68 billion, a P/E ratio of 11.04, a P/E/G ratio of 1.37 and a beta of 0.50. The company has a quick ratio of 1.77, a current ratio of 3.22 and a debt-to-equity ratio of 47.66. The company’s fifty day moving average price is GBX 436.86 and its 200-day moving average price is GBX 507.42. Tate & Lyle has a 52-week low of GBX 358 and a 52-week high of GBX 793.50.

Wall Street Analyst Weigh In

TATE has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lowered their price target 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. UBS Group cut their price objective on Tate & Lyle from GBX 590 to GBX 390 and set a “neutral” rating on the stock in a research report on Friday, October 31st. Berenberg Bank cut their price objective on Tate & Lyle from GBX 620 to GBX 450 and set a “hold” rating on the stock in a research report on Monday, October 13th. Finally, Citigroup cut their price objective on Tate & Lyle from GBX 670 to GBX 540 and set a “buy” rating on the stock in a research report on Thursday, October 2nd. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 460.

Insiders Place Their Bets

In related news, insider Steve Foots bought 16,000 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The shares were bought at an average cost of GBX 370 per share, with a total value of £59,200. Also, insider Nick Hampton bought 25,000 shares of the stock in a transaction that occurred on Friday, October 3rd. The shares were bought at an average price of GBX 369 per share, for a total transaction of £92,250. Insiders own 1.66% of the company’s stock.

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.