International Flavors & Fragrances Inc. to Issue Quarterly Dividend of $0.40 (NYSE:IFF)

International Flavors & Fragrances Inc. (NYSE:IFF) announced a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Investors of record on Friday, June 21st will be given a dividend of 0.40 per share by the specialty chemicals company on Wednesday, July 10th. This represents a $1.60 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Friday, June 21st.

International Flavors & Fragrances has increased its dividend payment by an average of 2.2% annually over the last three years. International Flavors & Fragrances has a dividend payout ratio of 38.9% meaning its dividend is sufficiently covered by earnings. Analysts expect International Flavors & Fragrances to earn $4.23 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 37.8%.

International Flavors & Fragrances Price Performance

NYSE:IFF traded up $2.82 during midday trading on Thursday, hitting $86.81. 2,140,453 shares of the stock were exchanged, compared to its average volume of 2,086,952. The business has a 50-day moving average price of $82.34 and a two-hundred day moving average price of $78.58. The company has a current ratio of 1.67, a quick ratio of 1.02 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $22.16 billion, a price-to-earnings ratio of -8.37, a P/E/G ratio of 1.90 and a beta of 1.21. International Flavors & Fragrances has a one year low of $62.11 and a one year high of $97.49.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings data on Tuesday, February 20th. The specialty chemicals company reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.03). The company had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.70 billion. International Flavors & Fragrances had a negative net margin of 22.36% and a positive return on equity of 5.09%. International Flavors & Fragrances’s revenue was down 5.0% on a year-over-year basis. During the same quarter last year, the company posted $0.97 EPS. Sell-side analysts predict that International Flavors & Fragrances will post 3.68 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Wolfe Research started coverage on International Flavors & Fragrances in a research note on Friday, March 1st. They issued an “underperform” rating on the stock. Argus lowered shares of International Flavors & Fragrances from a “buy” rating to a “hold” rating in a report on Friday, March 8th. Wells Fargo & Company raised their price objective on shares of International Flavors & Fragrances from $90.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Barclays upgraded International Flavors & Fragrances from an “underweight” rating to an “equal weight” rating in a report on Thursday, April 18th. Finally, Stifel Nicolaus dropped their price target on International Flavors & Fragrances from $87.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $86.35.

About International Flavors & Fragrances

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures and sells cosmetic active and natural health ingredients for use in various consumer products in the United States, Europe, and internationally. It operates through four segments: Nourish, Health & Biosciences, Scent, and Pharma Solutions.