Inter Parfums (NASDAQ:IPAR) Releases FY24 Earnings Guidance

Inter Parfums (NASDAQ:IPAR) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $5.15 for the period, compared to the consensus estimate of $5.16. The company issued revenue guidance of $1.45 billion, compared to the consensus revenue estimate of $1.45 billion.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on IPAR. DA Davidson restated a buy rating and set a $192.00 price target on shares of Inter Parfums in a research note on Friday, April 26th. Piper Sandler cut their target price on Inter Parfums from $176.00 to $172.00 and set an overweight rating on the stock in a research note on Thursday, April 25th. Finally, BWS Financial reiterated a buy rating and issued a $172.00 target price on shares of Inter Parfums in a research note on Wednesday, April 17th.

Inter Parfums Stock Performance

NASDAQ:IPAR traded up $3.48 during trading hours on Tuesday, reaching $123.27. The company had a trading volume of 176,951 shares, compared to its average volume of 142,062. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.58 and a quick ratio of 1.44. The firm has a market cap of $3.95 billion, a PE ratio of 25.22 and a beta of 1.19. The business’s 50 day moving average price is $132.52 and its 200-day moving average price is $135.07. Inter Parfums has a 1-year low of $114.88 and a 1-year high of $156.75.

Inter Parfums (NASDAQ:IPAR) last announced its earnings results on Tuesday, February 27th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). The business had revenue of $328.74 million for the quarter, compared to analyst estimates of $329.00 million. Inter Parfums had a return on equity of 17.62% and a net margin of 11.59%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.71 earnings per share. Research analysts forecast that Inter Parfums will post 5.15 EPS for the current year.

Inter Parfums Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.43%. This is a boost from Inter Parfums’s previous quarterly dividend of $0.63. The ex-dividend date was Thursday, March 14th. Inter Parfums’s payout ratio is presently 63.16%.

Insider Buying and Selling

In other Inter Parfums news, Director Gilbert Harrison sold 250 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $150.42, for a total value of $37,605.00. Following the completion of the sale, the director now directly owns 1,000 shares in the company, valued at approximately $150,420. The sale was disclosed in a document filed with the SEC, which can be accessed 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.