Inter Parfums (NASDAQ:IPAR) Updates FY24 Earnings Guidance

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

Inter Parfums Stock Down 3.9 %

Shares of IPAR traded down $4.79 during mid-day trading on Wednesday, hitting $118.48. 339,994 shares of the company’s stock were exchanged, compared to its average volume of 144,285. Inter Parfums has a twelve month low of $114.71 and a twelve month high of $156.75. The firm has a fifty day moving average of $131.38 and a two-hundred day moving average of $134.95. The stock has a market cap of $3.79 billion, a price-to-earnings ratio of 24.94 and a beta of 1.19. The company has a quick ratio of 1.44, a current ratio of 2.58 and a debt-to-equity ratio of 0.14.

Inter Parfums (NASDAQ:IPAR) last released its earnings results on Tuesday, May 7th. The company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.29). Inter Parfums had a return on equity of 17.62% and a net margin of 11.59%. The firm had revenue of $323.96 million for the quarter, compared to analyst estimates of $324.00 million. During the same period last year, the business earned $1.68 earnings per share. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, sell-side analysts forecast that Inter Parfums will post 5.15 earnings per share for the current year.

Inter Parfums Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.53%. This is a boost from Inter Parfums’s previous quarterly dividend of $0.63. Inter Parfums’s dividend payout ratio (DPR) is 63.16%.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, Director Gilbert Harrison sold 250 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $150.42, for a total value of $37,605.00. Following the completion of the transaction, the director now 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. Insiders own 43.90% of the company’s stock.

About Inter Parfums

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.