Inter Parfums (NASDAQ:IPAR) Updates 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.

Analysts Set New Price Targets

Several brokerages have recently weighed in on IPAR. StockNews.com upgraded Inter Parfums from a “sell” rating to a “hold” rating in a report on Wednesday, August 7th. BWS Financial reiterated a “buy” rating and issued a $172.00 target price on shares of Inter Parfums in a research report on Wednesday, October 23rd. DA Davidson reissued a “buy” rating and set a $163.00 price objective on shares of Inter Parfums in a report on Tuesday, October 22nd. 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, Jefferies Financial Group upgraded shares of Inter Parfums from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a report on Friday, July 12th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Inter Parfums presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

Inter Parfums Stock Up 1.3 %

Shares of NASDAQ:IPAR traded up $1.61 on Wednesday, hitting $128.06. 199,022 shares of the company traded hands, compared to its average volume of 143,635. The stock has a 50 day simple moving average of $122.26 and a 200-day simple moving average of $122.37. The company has a market cap of $4.10 billion, a PE ratio of 28.80 and a beta of 1.16. Inter Parfums has a 52 week low of $108.39 and a 52 week 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.

Inter Parfums (NASDAQ:IPAR) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.09. Inter Parfums had a net margin of 10.38% and a return on equity of 15.82%. The business had revenue of $342.00 million during the quarter, compared to analyst estimates of $342.00 million. During the same period last year, the firm posted $1.09 EPS. The company’s revenue was up 10.7% on a year-over-year basis. As a group, research analysts expect that Inter Parfums will post 5.17 earnings per share for the current year.

Insider Transactions at Inter Parfums

In other Inter Parfums news, Director Veronique Gabai-Pinsky sold 1,500 shares of Inter Parfums stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $125.96, for a total transaction of $188,940.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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.