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Ingredion Inc. (INGR) Has Dropped To A New Low For The Year

Ingredion Inc. (INGR) announced Thursday that it expects to report second quarter adjusted EPS of $1.63 to $1.68. Analysts are expecting EPS of $1.92. The company also lowered its full year adjusted EPS forecast to between $7.50 and $7.80 from prior expectations of $7.90 to $8.20. The consensus estimate is for EPS of $7.92.

Ingredion gapped open sharply lower Friday morning and is now down 9.27 at $101.50 on above average volume. The stock has dropped below over a 2-month trading range and has set a new low for the year.

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