International Flavors & Fragrances (NYSE:IFF) Issues Quarterly Earnings Results, Beats Estimates By $0.27 EPS

International Flavors & Fragrances (NYSE:IFF) issued its quarterly earnings data on Monday. The specialty chemicals company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.27, Briefing.com reports. International Flavors & Fragrances had a negative net margin of 22.36% and a positive return on equity of 5.09%. The firm had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same period in the prior year, the firm earned $0.87 earnings per share. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. International Flavors & Fragrances updated its FY 2024 guidance to EPS.

International Flavors & Fragrances Stock Up 2.3 %

International Flavors & Fragrances stock opened at $88.66 on Tuesday. The company has a 50 day moving average of $82.84 and a 200-day moving average of $79.10. The company has a quick ratio of 1.02, a current ratio of 1.67 and a debt-to-equity ratio of 0.63. International Flavors & Fragrances has a twelve month low of $62.11 and a twelve month high of $97.49. The stock has a market capitalization of $22.64 billion, a PE ratio of -8.83, a price-to-earnings-growth ratio of 1.94 and a beta of 1.21.

International Flavors & Fragrances Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Friday, June 21st will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, June 21st. This represents a $1.60 annualized dividend and a yield of 1.80%. International Flavors & Fragrances’s dividend payout ratio (DPR) is currently -15.94%.

Wall Street Analysts Forecast Growth

IFF has been the subject of a number of recent analyst reports. Wolfe Research initiated coverage on International Flavors & Fragrances in a report on Friday, March 1st. They set an “underperform” rating for the company. Robert W. Baird increased their price objective on shares of International Flavors & Fragrances from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. Barclays raised shares of International Flavors & Fragrances from an “underweight” rating to an “equal weight” rating in a research note on Thursday, April 18th. Wells Fargo & Company increased their price target on International Flavors & Fragrances from $90.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Finally, Jefferies Financial Group raised International Flavors & Fragrances from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $73.00 to $112.00 in a research note on Friday, January 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, International Flavors & Fragrances has an average rating of “Hold” and a consensus price target of $86.76.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures and sells cosmetic active and natural health ingredients for use in various consumer products in the United States, Europe, and internationally. It operates through four segments: Nourish, Health & Biosciences, Scent, and Pharma Solutions.