Inter Parfums (NASDAQ:IPAR) Issues FY24 Earnings Guidance

Inter Parfums (NASDAQ:IPAR) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $5.15 for the period, compared to the consensus earnings per share estimate of $5.17. The company issued revenue guidance of $1.45 billion, compared to the consensus revenue estimate of $1.46 billion.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Jefferies Financial Group upgraded Inter Parfums from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a report on Friday, July 12th. BWS Financial restated a “buy” rating and issued a $172.00 price objective on shares of Inter Parfums in a report on Wednesday, October 23rd. StockNews.com upgraded Inter Parfums from a “sell” rating to a “hold” rating in a report on Wednesday, August 7th. Piper Sandler reiterated an “overweight” rating and set a $151.00 price target (up previously from $150.00) on shares of Inter Parfums in a report on Tuesday, July 23rd. Finally, DA Davidson reiterated a “buy” rating and set a $163.00 price target on shares of Inter Parfums in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $156.50.

Inter Parfums Stock Performance

IPAR stock traded up $2.35 during midday trading on Friday, hitting $128.23. 206,241 shares of the company traded hands, compared to its average volume of 144,653. Inter Parfums has a twelve month low of $108.39 and a twelve month high of $156.75. The company has a quick ratio of 1.27, a current ratio of 2.58 and a debt-to-equity ratio of 0.12. The business has a 50 day simple moving average of $122.33 and a 200-day simple moving average of $122.44. The stock has a market capitalization of $4.11 billion, a price-to-earnings ratio of 26.83 and a beta of 1.16.

Inter Parfums (NASDAQ:IPAR) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.83 by $0.10. Inter Parfums had a return on equity of 15.82% and a net margin of 10.38%. The company had revenue of $425.00 million for the quarter, compared to the consensus estimate of $425.00 million. During the same quarter last year, the company posted $1.66 earnings per share. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, equities research analysts predict that Inter Parfums will post 5.17 earnings per share for the current year.

Inter Parfums Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $0.75 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $3.00 annualized dividend and a dividend yield of 2.34%. Inter Parfums’s dividend payout ratio is 64.38%.

Insider Activity

In other news, Director Veronique Gabai-Pinsky sold 1,500 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $125.96, for a total value of $188,940.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 43.90% of the stock is owned by company insiders.

Inter Parfums Company Profile

Inter Parfums, Inc, together with its subsidiaries, manufactures, markets, and distributes a range of fragrances and fragrance related products in the United States and internationally. It operates in two segments, European Based Operations and United States Based Operations. The company offers its fragrance and cosmetic products under the Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Kate Spade, Lanvin, Moncler, Montblanc, Rochas, S.T.