International Flavors & Fragrances (NYSE:IFF) Shares Gap Up After Strong Earnings

International Flavors & Fragrances Inc. (NYSE:IFF) gapped up prior to trading on Tuesday following a stronger than expected earnings report. The stock had previously closed at $88.66, but opened at $92.60. International Flavors & Fragrances shares last traded at $93.87, with a volume of 468,954 shares traded.

The specialty chemicals company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.27. The company had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.78 billion. International Flavors & Fragrances had a positive return on equity of 5.09% and a negative net margin of 22.36%. International Flavors & Fragrances’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.87 EPS.

International Flavors & Fragrances Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Friday, June 21st will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Friday, June 21st. International Flavors & Fragrances’s payout ratio is -15.94%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on IFF shares. Morgan Stanley upped their price target on International Flavors & Fragrances from $89.00 to $96.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. Wells Fargo & Company upped their price target on International Flavors & Fragrances from $90.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Wolfe Research started coverage on International Flavors & Fragrances in a research note on Friday, March 1st. They issued an “underperform” rating on the stock. StockNews.com upgraded International Flavors & Fragrances from a “sell” rating to a “hold” rating in a research note on Monday, March 25th. Finally, UBS Group lifted their target price on International Flavors & Fragrances from $78.00 to $82.00 and gave the stock a “neutral” rating in a report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $87.65.

Institutional Investors Weigh In On International Flavors & Fragrances

Several large investors have recently modified their holdings of IFF. Blue Bell Private Wealth Management LLC raised its holdings in shares of International Flavors & Fragrances by 3,000.0% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 310 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 300 shares in the last quarter. Riverview Trust Co purchased a new position in shares of International Flavors & Fragrances in the 1st quarter worth approximately $27,000. Quent Capital LLC grew its position in shares of International Flavors & Fragrances by 183.2% in the 1st quarter. Quent Capital LLC now owns 371 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 240 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in shares of International Flavors & Fragrances in the 4th quarter worth approximately $41,000. Finally, Principal Securities Inc. purchased a new stake in International Flavors & Fragrances during the 4th quarter worth approximately $43,000. Institutional investors own 96.02% of the company’s stock.

International Flavors & Fragrances Price Performance

The firm’s fifty day moving average price is $82.84 and its 200 day moving average price is $79.10. The firm has a market capitalization of $23.54 billion, a PE ratio of -9.30, a P/E/G ratio of 1.94 and a beta of 1.21. The company has a current ratio of 1.67, a quick ratio of 1.02 and a debt-to-equity ratio of 0.63.

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.