Inter Parfums (NASDAQ:IPAR) Issues Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Inter Parfums (NASDAQ:IPAR) issued its quarterly earnings data on Wednesday. The company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.10, Briefing.com reports. The company had revenue of $425.00 million during the quarter, compared to analyst estimates of $425.00 million. Inter Parfums had a return on equity of 16.72% and a net margin of 10.60%. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.66 earnings per share. Inter Parfums updated its FY24 guidance to $5.15 EPS.

Inter Parfums Trading Up 1.9 %

Shares of IPAR traded up $2.35 during midday trading on Friday, hitting $128.23. 206,459 shares of the stock were exchanged, compared to its average volume of 130,017. The firm has a market cap of $4.11 billion, a P/E ratio of 27.52 and a beta of 1.16. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.27 and a current ratio of 2.58. Inter Parfums has a 52-week low of $108.39 and a 52-week high of $156.75. The stock has a fifty day simple moving average of $122.32 and a 200 day simple moving average of $122.43.

Inter Parfums Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $3.00 annualized dividend and a dividend yield of 2.34%. Inter Parfums’s dividend payout ratio is currently 64.38%.

Insider Activity

In other news, Director Veronique Gabai-Pinsky sold 1,500 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $125.96, for a total value of $188,940.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 43.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on IPAR shares. Piper Sandler reiterated an “overweight” rating and issued a $151.00 price objective (up from $150.00) on shares of Inter Parfums in a research report on Tuesday, July 23rd. BWS Financial reiterated a “buy” rating and issued a $172.00 price objective on shares of Inter Parfums in a research report on Wednesday, October 23rd. DA Davidson reiterated a “buy” rating and issued a $163.00 price objective on shares of Inter Parfums in a research report on Tuesday, October 22nd. StockNews.com upgraded Inter Parfums from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group upgraded Inter Parfums from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a research report on Friday, July 12th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

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.