Inter Parfums (NASDAQ:IPAR) Releases FY24 Earnings Guidance

Inter Parfums (NASDAQ:IPAR) updated its FY24 earnings guidance on Monday. 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. Inter Parfums also updated its FY 2024 guidance to 5.150-5.150 EPS.

Inter Parfums Stock Down 1.1 %

Shares of IPAR stock opened at $119.30 on Tuesday. Inter Parfums has a 1-year low of $108.39 and a 1-year high of $156.75. The stock’s fifty day moving average price is $122.82 and its 200 day moving average price is $122.76. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.58 and a quick ratio of 1.27. The company has a market cap of $3.82 billion, a price-to-earnings ratio of 27.49 and a beta of 1.15.

Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.09. The business had revenue of $342.00 million for the quarter, compared to the consensus estimate of $342.00 million. Inter Parfums had a return on equity of 15.82% and a net margin of 10.38%. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.09 EPS. On average, research analysts expect that Inter Parfums will post 5.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on IPAR shares. StockNews.com upgraded Inter Parfums from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th. Piper Sandler reiterated an “overweight” rating and set a $151.00 price objective (up previously from $150.00) on shares of Inter Parfums in a research report on Tuesday, July 23rd. DA Davidson reiterated a “buy” rating and set a $163.00 price objective on shares of Inter Parfums in a research report on Friday, September 13th. BWS Financial reissued a “buy” rating and set a $172.00 target price on shares of Inter Parfums in a research note on Thursday, August 8th. Finally, Jefferies Financial Group raised Inter Parfums from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research note on Friday, July 12th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $156.50.

Insider Buying and Selling

In related news, Director Veronique Gabai-Pinsky sold 1,500 shares of the company’s 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 SEC, which is available at 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.