Foods and food ingredients suddenly in the spotlight. corn products international saw (CPO-snapshot report) enormous sales rebound from deep recession. It is expected to grow by 25 per cent in 2011 profits.
The Zacks # 1 rank (strong buy) is the world's largest producer of dixtrosi and manufactures starch and high fructose corn syrup and sugar.
The company provides a variety of components for customers in 60 industries including food and beverages, pharmaceuticals, animal feed, korogating, paper and textiles in 50 countries around the world.
BT corn products jobs in the fourth quarter of 2010
On 17 February, corn products Q4 results and easily surprised rated Zacks consensus 44%. Earnings per share were $ 1.05 compared with consensus 73 cents only.
CPO 74 cents made only a year ago. The acquisition of "starch" 23 cents per share in the quarter. Full-year EPS also rose to $ 3.24 from $ 2.01, excluding acquisition costs "starch" and integration.
Sales in the fourth quarter jumped 47 per cent to $ 1.41 billion from $ 959 million, with 416 million dollars coming from higher volumes, including $ 351 million from sales of "starch". CPO was able to manage the input costs due to higher volumes increased in all regions.
Remains the largest North American market. Sales rose 33% to $ 738 million volumes, stronger than $ 203 million, including $ 168 million from national starch. "
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And sales of South America, the second largest market for CPO, 23 per cent. Asia rose 119 percent. At the same time, Europe only "starch" sales where there was no year over year comparison.
Guide 2011
Ascending maize products in 2011, which will be the first full year with "starch".
Expected earnings per share in the range of $ 3.60 to 3.90 dollars but which also includes procurement costs.
Climb the Zacks consensus estimates
Analysts may move their highest based on Q4 and full year Outlook. It cost was excluded "starch" which means that estimates come above company instruction set.
Transfer of five top-2011 estimate last week paid Zacks consensus estimate for 2011 up to $ 4.06 per share from $ 3.65.
Stock price of CPO
Maize products have attractive valuations. Is trading at just 12 x forward estimates under S & P 500 average of 14.5 x.? It also has a price to book, just 1.9 within the parameters value under 3.0.
Price to sales ratio from 0.9 also refers to the value. Additionally, is the return year 1 on strong 13.2 per cent.
CPO in highs year 1
Shares pulled from one of the highest in recent market sale. But the schema for 6 months is still very impressive.
Rinik Tracey is a strategic shareholder value for Zacks.com. It is also the editor in charge of Zacks value trader service hit the market. You can follow her at twitter.com/traceyryniec.
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