Equities Analysts Issue Forecasts for Inter Parfums, Inc.’s Q1 2024 Earnings (NASDAQ:IPAR)

Inter Parfums, Inc. (NASDAQ:IPAR) – Research analysts at DA Davidson dropped their Q1 2024 EPS estimates for Inter Parfums in a research report issued on Friday, April 26th. DA Davidson analyst L. Weiser now forecasts that the company will post earnings per share of $1.55 for the quarter, down from their prior forecast of $1.81. DA Davidson currently has a “Buy” rating and a $192.00 target price on the stock. The consensus estimate for Inter Parfums’ current full-year earnings is $5.15 per share.

IPAR has been the subject of several other reports. BWS Financial reissued a “buy” rating and issued a $172.00 target price on shares of Inter Parfums in a research note on Wednesday, April 17th. Piper Sandler reduced their price objective on shares of Inter Parfums from $176.00 to $172.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th.

Inter Parfums Price Performance

NASDAQ:IPAR opened at $116.38 on Monday. Inter Parfums has a 1-year low of $115.58 and a 1-year high of $156.75. The company has a current ratio of 2.58, a quick ratio of 1.44 and a debt-to-equity ratio of 0.14. The firm has a fifty day simple moving average of $135.20 and a 200 day simple moving average of $135.30. The stock has a market capitalization of $3.73 billion, a PE ratio of 24.50 and a beta of 1.13.

Inter Parfums (NASDAQ:IPAR) last released 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). Inter Parfums had a net margin of 11.59% and a return on equity of 17.62%. The firm had revenue of $328.74 million during the quarter, compared to the consensus estimate of $329.00 million. During the same period in the prior year, the business posted $0.71 earnings per share. Inter Parfums’s quarterly revenue was up 5.8% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of IPAR. SG Americas Securities LLC acquired a new position in Inter Parfums in the third quarter valued at about $1,294,000. Raymond James & Associates raised its stake in Inter Parfums by 2.2% during the third quarter. Raymond James & Associates now owns 102,298 shares of the company’s stock worth $13,743,000 after acquiring an additional 2,236 shares in the last quarter. Redwood Investments LLC acquired a new position in Inter Parfums during the third quarter worth about $6,865,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Inter Parfums by 13.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,905 shares of the company’s stock worth $525,000 after acquiring an additional 478 shares in the last quarter. Finally, Strs Ohio raised its stake in Inter Parfums by 2.7% during the third quarter. Strs Ohio now owns 7,600 shares of the company’s stock worth $1,020,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 55.57% of the company’s stock.

Insider Activity

In other news, Director Gilbert Harrison sold 250 shares of the business’s stock in a transaction dated 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 sale, the director now owns 1,000 shares of the company’s stock, valued at $150,420. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 43.90% of the stock is currently owned by company insiders.

Inter Parfums Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Inter Parfums’s previous quarterly dividend of $0.63. Inter Parfums’s payout ratio is presently 63.16%.

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.