Ingredion Reports Middling 4Q Results and Issues Encouraging 2018 Guidance; $125 FVE Unchanged
Ingredion's fourth-quarter earnings release revealed no major surprises, as operating income rose across three of the company's four geographic reporting segments. Full-year profits were closely in line with our expectations, and we leave our fair value estimate unchanged at $125 per share. Our narrow moat rating is also unchanged.Looking forward to 2018, management is guiding to adjusted earnings per share of $8.10-$8.50. Our estimate of $8.30 sits in the middle of that range, as we expect adj...
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